Russia's Central Bank sold approximately 15 metric tons (500,000 troy ounces) of gold reserves in January and February 2026—the largest drawdown since 2002—to address budget shortfalls amid ongoing war spending in Ukraine and Western sanctions that froze $300 billion in assets. This marked the first open-market physical gold sales in 25 years, reducing reserves to 74.3 million troy ounces, the lowest since March 2022, while generating an estimated 120 billion rubles ($1.46 billion). Analysts link the move to fiscal pressures, including depleted National Wealth Fund liquidity and a shift from internal transactions to direct market sales, as gold prices surged past $5,000 per ounce. Additional reports note continued sales into April 2026 (another 0.7 million ounces) for rebalancing toward yuan amid sanctions, alongside separate sales of gold mining rights in occupied Ukrainian territories. No major developments reported after mid-April 2026 as of available data.[1][2][3][4][5][7]
Russia has sold physical gold from its central bank reserves for the first time in 25 years to address a widening budget deficit fueled by sustained military spending. This move marks a significant…
economictimes.comRussia sold about 15 metric tons of gold from its reserves in the first two months of the year, the largest such drawdown since 2002, World Gold Council data indicated, as authorities tap state assets amid mounting budget pressures.
www.themoscowtimes.comRussia sells 15 tons of gold to plug war-hit finances, pressuring prices Moscows bullion offloads signal cash squeeze as global central bank sales weigh on prices
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