Putin Discussing Pegging The Rouble to Gold, Kremlin Says

Vladimir Putin is discussing the idea of pegging the rouble to gold and other goods, the Kremlin said on Friday (Apr. 29), 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 Feb 24.