Russia’s gold stockpile targeted in new G7 sanctions

Russia holds roughly 130 billion dollars in gold reserves

New sanctions target Russia’s use of gold in transactions (Royal Mint/PA)

G7 leaders have announced they are restricting the Russian Central Bank’s use of gold in transactions.

Previously, sanctions against Russian elites, the country’s Central Bank and President Vladimir Putin did not affect Russia’s gold stockpile, which Mr Putin has been accumulating for several years.