Washington Examiner – by Brady Knox
Ukraine’s central bank has sold $12.4 billion in gold reserves since the beginning of Russia’s invasion in February, the country’s central bank’s deputy head revealed on Sunday.
The gold reserves weren’t sold to shore up Ukraine’s hryvnia currency, Deputy Gov. Kateryna Rozhkova said, according to Reuters.
“We are selling [this gold] so that our importers are able to buy necessary goods for the country,” she said.
The claimed amount far exceeds Ukraine’s gold reserves just prior to the war. For the first quarter of 2022, Ukraine’s gold reserves totaled 27.06 tons, valued at $1.69 billion, according to the World Gold Council. The $12.4 billion in gold reserves the nation claims to have sold since the start of the war is the equivalent of 491 tons, or 18 times larger than the first quarter gold reserves.
The most recent estimate of Ukraine’s gold reserves, from the renowned Computer and Enterprise Investigations Conference, found that Ukraine’s total gold reserves in May amounted to $1.605 billion. The most in gold reserves the country has held was $1.978 billion in September 2012.
Russia and Ukraine have poured huge amounts of treasure into the war. Russia is spending $900 million a day on the war, Sean Spoonts, editor-in-chief of SOFREP, a military-focused media outlet, estimated in early May. In contrast, Ukraine spends around $10 billion per month on the war, or roughly $333.3 million per day, the Ukrainian Ministry of Defense estimated in April. However, Ukraine’s Ministry of Defense has an incentive to underestimate its costs.
The war has inflicted over $100 billion in damage to Ukraine’s infrastructure, the United Nations estimated in mid-March. As for the human toll, numbers vary wildly, with Russia and Ukraine having an incentive to underreport their own casualties while exaggerating those of the enemy. There have been at least 4,010 Russian military fatalities, with the true figure likely being much higher, BBC Russia has confirmed. Up to 150 Ukrainian soldiers die per day, Oleksiy Arestovych, a personal adviser to Ukrainian President Volodymyr Zelensky, told the Guardian in June.
I can’t seem to understand this article. Who did they sell the gold to? If it was to their importers… I mean if the importers didn’t have the money to buy goods, how could they have bought gold? I know I’m missing something. Or is this a doublespeak kind of thing?
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Its a cover up story, go back to 2012 you’ll find at the start of the take over the jews removed all the gold with the help of the US.
so they launder our money over there, than launder their gold , and give it to Biden(s) and all the other government thieves so everyone keeps their mouths shut ..right Nancy?