La Russia liquida il 71% delle sue riserve auree per finanziare lo sforzo bellico e la svendita non è finita

The Moscow Times report referred to in the article

[Russia to Tap National Wealth Fund at Record Pace as Oil and Gas Revenues Slump](https://www.themoscowtimes.com/2026/01/16/russia-to-tap-national-wealth-fund-at-record-pace-as-oil-and-gas-revenues-slump-a91696)

Note – this is the National Wealth fund NOT the Russian Central Bank

Here’s a more informative article

[Gold – the Last Gamble of a Desperate Russia](https://themilitaryanalyst.com/2025/11/29/gold-the-last-gamble-of-a-desperate-russia/) – *The Military Analyst* website

Clickbait – its talking about the comparatively tiny amount held in the wealth fund not the main gold reserve, which is worth about 160 billion USD.

They are going to have start selling that soon too so they really are not doing well but they aren’t at the point of collapse yet.