US warns that sanctions apply to gold transactions CBR US

The US Treasury issued clarifications that limit the ability of the Bank of Russia to use gold and foreign exchange reserves. They are published on the agency's website.

“These instructions make it clear that any gold transactions relating to the Central Bank of the Russian Federation are covered by existing sanctions,” the materials say.

Thus, the Ministry of Finance explains, those who directly or indirectly participate in transactions with the aim of circumventing US sanctions , including those involving the use of gold, may fall under the previously introduced restrictions.

“US citizens are prohibited from participating in any transactions, including those related to gold, with the participation of the Central Bank of the Russian Federation, the National Welfare Fund of the Russian Federation or the Ministry of Finance of the Russian Federation,” the Ministry of Finance noted.