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Will Russia Return to Using the Gold Standard?


Will Russia return to the gold standard? Oliver Adey4 March 2022 Moscow plans to scrap its 20 percent tax on private individuals buying precious metals. This is reported by the Russian state newspaper Rossiyskaya Gazeta citing Finance Minister Anon Siluanov. At the same time, the purchase of US dollars is to be made more difficult with a tax. Gold would thus become the last lifeline for the threatened private assets of Russian citizens. The push could pave the way for a return to some kind of gold standard at the national level, an almost historic event. Introduced internationally as the Bretton Woods…

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