Business Standard

Russian President Vladimir Putin looks to peg the ruble to gold

However, the governor of Russia's central bank, Elvira Nabiullina, told reporters the idea was "not being discussed in any way"

Vladimir Putin and Xi Jinping
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Russian President Vladimir Putin (Photo: Reuters)

Reuters
Russian President Vladimir Putin is discussing the idea of pegging the rouble to gold and other goods, the Kremlin said on Friday, a move that if approved would directly link Russia's currency to bullion for the first time in more than a century.

A powerful Russian security official said this week linking the rouble to bullion could give Russia more "sovereignty" over its financial system, which has been battered by Western sanctions since Moscow sent troops into Ukraine on February 24.

Asked about the idea on a conference call with reporters, Kremlin spokesman Dmitry Peskov said “this

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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