Russian central bank reveals how it braced for Western dollar grab ...News

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Russian central bank reveals how it braced for Western dollar grab
Moscow stockpiled gold, yuan and foreign currency in cash to offset Western sanctions, the regulator has revealed The Bank of Russia had been preparing for an escalation of Western sanctions since 2014 and was beefing up additional funds as a hedge against future restrictions on its foreign exchange reserves, the regulator revealed on Wednesday. Amid “increasing geopolitical risks” the central bank ramped up investments in assets “that cannot be blocked by unfriendly nations” and transferred part of its reserves to gold, Chinese yuan and foreign currency in cash, the regulator announced in its annual report. The c

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