Gold Exceeds U.S. Dollars in Russia’s Reserves as Putin Focuses on De-Dollari...
Russia is now holding more gold than U.S. dollars in its reserves for the first time, according to the latest report by Russia’s central bank. Russian President Vladimir Putin has made de-dollarization his country’s key policy to reduce the Russian economy’s exposure to the U.S. dollar amid heavy sanctions. Russia Now Has More Gold in Its Reserves Than US Dollars Gold has reportedly surpassed U.S. dollars in Russia’s reserves of $583 billion for the first time, according to a report published this week by the Bank of Russia. The country has been growing its....
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Russians reportedly hold about $130 billion in cryptocurrency but the government is yet to adopt crypto legislation. The Russian prime minister declared that the cryptocurrency holdings of Russians are worth billions of dollars but the government is yet to adopt a regulatory framework for the industry.Russians collectively hold more than 10 trillion rubles ($130 billion) in cryptocurrencies like Bitcoin (BTC), Russian prime minister Mikhail Mishustin claimed at the annual report presentation of the Russian government on Thursday.The prime minister did not mention the source for this....
As told by Russian president Vladimir Putin on national television, the majority of the funding received by ISIL militants come from: Donations from rich political leaders in the Islamic state. Oil reserves. Putin and established financial institutions claim that the oil reserves of ISIL generate around US$500 million annually. "According to U. S. Department of the Treasury officials and data they released in the wake of the Paris mayhem, the terrorist group is actually taking in $500 million from oil a year," reported Bloomberg. The purchases of ISIL oil reserves and the donations from....
Russian president Vladimir Putin has stated that use of Bitcoin “as some kind of unit in some account” is “possible” in a surprisingly supportive gesture towards the currency. The remarks were made during a televised forum and constitute the first official utterances from Putin regarding digital currency, Russian news portal RIA Novosti reports. Speaking about Bitcoin specifically, Putin said: “[… ][A]s an accounting unit, these 'coins' or whatever are they called, they can be used, and their adoption becomes wider and wider. As some kind of unit in some account, probably, it's possible.”....
Responding to events in Ukraine and Crimea, the Obama administration has barred certain prominent Russians from entry to the U. S. and sanctioned company and private fortunes. Yesterday, the heads of major Russian oil and energy companies, Rosneft and Gazprom, were both sanctioned. It appears even the rumored private fortune of President Putin may be pursued if the political situation deteriorates. In 2007, the CIA and Russian political expert, Stanislav Belkovsky, claimed Putin's worth exceeds $40bn. In 2012, Mr. Putin declared his income as $115k and his bank account at $180k. Quite....
More than 1.1 million bitcoin or over $30 billion worth of the crypto asset is held by a myriad of companies, according to the web portal bitcointreasuries.org. The massive stash of bitcoin reserves held by well known companies started swelling after the billion-dollar firm Microstrategy purchased $250 million worth of bitcoin in August. Now there are 29 firms that are holding the cryptocurrency in place of traditional reserves like stocks and cash. There’s been a new trend lately, as a great number of prominent companies have decided to leverage bitcoin (BTC) for reserves rather....