Russia Sells 22 Tons of Gold to Curb Growing Federal Budget Deficit

The Bank of Russia has sold approximately 22 tons of gold since the start of 2026 to help fund its budget deficit. By the end of March, this deficit reached 4.6 trillion rubles ($61.3 billion) due to low oil and gas revenues at the beginning of the year.

Official data shows that gold reserves fell by 0.7 million troy ounces to 74.1 million troy ounces as of April 1, according to The Moscow Times.