Ministry of Finance: gold should replace the dollars lying with the Russians in the “banks in the gardens”

Deputy Finance Minister Alexei Moiseev said that the volume of gold sales to the population in 2022 increased tenfold. According to the minister, this is still not enough to replace the hundreds of billions of dollars lying with the Russians “in the banks in the gardens.”

“The measures that have been taken have nevertheless had an impact: our sales of gold to the population have increased 10 times … But this is not enough anyway. Gold should replace dollars, of which the population has several hundred billion precisely lying in banks in gardens, and so on. It is clear that all this must be exchanged for gold, which we ourselves produce, ”said the deputy minister at a meeting with the chairman of the Federation Council, Valentina Matvienko (quoted by RIA Novosti).

In September, a bill was submitted to the State Duma allowing citizens to buy precious metal bars without VAT, not only from refineries and Goznak structures. According to the authors of the bill, this will increase the number of participants in the retail market of investment precious metals, lead to an increase in the liquidity of bullion, and will also contribute to the de-dollarization of the Russian economy.

Will the precious metal be able to replace the dollar in Russia – in the publication “Kommersant” “Gold will go hand in hand”.

Anastasia Larina