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Ukraine has sold more than $12 billion of its gold during war with Russia
Gold still represents the ultimate form of payment in the world. Fiat money in extremis is accepted by nobody. Gold is always accepted. -- Alan Greenspan, former chairman of the Federal Reserve Board.
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By Max Hunder
Sunday, July 17, 2022
KYIV -- Ukraine's central bank has sold $12.4 billion of gold reserves since the beginning of Russia's invasion on Feb. 24, the bank's deputy head said on Sunday.
"We are selling (this gold) so that our importers are able to buy necessary goods for the country," Deputy Governor Kateryna Rozhkova told national television. She said the gold was not being sold to shore up Ukraine's hryvnia currency.
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