Russia Says Gold Hoard Grew as West Imposed Sanctions
- Central bank holdings rose 1 million ounces over the past year
- Russian gold was blocked from Western markets by an import ban
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Russia’s central bank said its bullion holdings jumped by 1 million ounces over the past year as it bought gold in the face of Western sanctions.
The Bank of Russia said it held 74.9 million ounces of gold at the end of February, unchanged from the previous month but up from 73.9 million a year earlier. That bullion hoard was worth $135.6 billion, it said.