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Bangkok Post
Bangkok Post
Business

What Sanctions Mean for Russia's $140 Billion in Gold

Marked ingots of 99.99% pure gold are placed in a cart at the Krastsvetmet non-ferrous metals plant in the Siberian city of Krasnoyarsk, Russia on March 10. REUTERS

The U.S. is clamping down on Russia's ability to sell its gold reserves and raise money, the latest effort to cripple the country's war chest while the invasion of Ukraine continues.

The Treasury Department clarified last week that any transaction involving gold related to Russia's central bank falls under existing sanctions, its latest step to limit Russia's capacity to raise money.

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