Russia to resume domestic FX, gold sales after over a year's hiatus

By Emre Gurkan Abay and Tuba Ongun

MOSCOW (AA) - Russia’s Finance Ministry announced on Thursday that it will resume foreign exchange and gold sales in the domestic market for the first time since January 2024.

In a statement, the ministry confirmed its decision to lift the suspension on these sales, which had been in place for over a year.

Sales will resume on April 7 in line with existing budget regulations.

Analysts attribute the move to a decline in Russia’s oil revenues, which has likely prompted the ministry to restart foreign exchange and gold sales to stabilize the market.