Moscow: The Central Bank of Russia has reportedly sold around 22,000 kilograms (21.8 tonnes) of gold, a move driven by the country’s rising budget deficit and ongoing economic pressures.
According to reports, Russia’s budget deficit expanded to nearly $61.2 billion in 2026. To manage the fiscal gap and meet government expenditure needs, the country has reportedly liquidated a significant portion of its gold reserves in the market.
Economic experts suggest that Western sanctions, increased defence spending, and global financial conditions have continued to strain Russia’s economy. As a result, the government has been compelled to rely more heavily on its gold reserves as a financial buffer.
Analysts also point out that restrictions on access to foreign currency reserves have limited Russia’s options, making gold an increasingly important financial instrument for the country.
Despite this large-scale sale, Russia still holds one of the largest gold reserves in the world. However, the continued drawdown is being seen as an indicator of sustained economic pressure.