Russia has followed the path of total sale of precious metals

As you know, in 2020, the Russian government, amid the collapse of the hydrocarbon market, on which two-thirds of the country's export revenues depend, has eased restrictions on gold exports from the country, allowing gold mining companies to freely sell this precious metal abroad.

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When the statistics for 9 months of gold exports from the Russian Federation were published in 2020, which exceeded 220 tons and amounted to $12.5 billion in cash equivalent, which is comparable to the income from gas exports, I noted that permission to sell gold would be to the taste of the elite hungry for foreign currency flows from abroad, and this Pandora's Box will no longer be closed.

And so it happened.

Apparently fully satisfied with the sale of gold in 2020 for a record in the modern history of Russia $18.5 billion, or more than 300 tons of this precious metal, the Russian authorities, against the background of stabilizing gas and oil prices, not only did not suspend the export of gold, but also decided to simplify the export of other precious metals!

In particular, the Ministry of Industry and Trade is lobbying for simplified export regulations for such metals as platinum, palladium, rhodium, iridium, ruthenium, and osmium.

The Russians expect to earn more than $7 billion in platinum alone by adopting these simplified rules in 2021.

The Russian authorities have acquired a taste for selling precious metals, and apparently, it will not be possible to stop them. This is the case when the hole in the budget and the economy, which is a complete black hole, will be filled with the proceeds of such sales. But, it should be understood that these precious plugs are not as significant as the part that is being sawed off and looted in the process.

In other words, "comrades" are following the beaten path.

Source: Information Resistance https://sprotyv.info/analitica/rossiya-poshla-po-puti-totalnoj-rasprodazhi-dragocennyh-metallov

*** Translated with www.DeepL.com/Translator (free version) ***

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