Official reports from the Russian Ministry of Finance or Central Bank of Russia

Russia to Boost Silver Reserves in Major Strategy Shift Amid G7 Sanctions

Oct 6, 2024, 12:53 PM

Russia is set to boost its silver reserves as part of a major shift in its precious metals strategy. This move, reported by Jpost, will see silver added to Russia's state reserves alongside gold, platinum, and palladium. The decision is seen as a counter-reaction to G7 sanctions and is expected to impact global markets as central banks reconsider the value of silver. Observers note that this strategy could increase Russia's wealth and profits, particularly through the Russia National Wealth Fund.