The Ministry of Finance of the Russian Federation sold 11,863 tons of gold from the NWF in March
The Ministry of Finance of the Russian Federation in March 2023 sent 137.071 billion rubles from the National Welfare Fund (NWF) to finance the budget deficit, having sold 7.479 billion yuan and 11.863 tons (381.4 thousand ounces) of gold for this purpose, according to materials on the ministry's website.
"The proceeds have been credited to a single account of the federal budget in order to finance its deficit," the report says.
At the end of last year, the Ministry of Finance of the Russian Federation published a new regulatory structure of the assets of the NWF, which completely excludes the possibility of investing in US dollars and establishes flexible shares of assets in other assets. The maximum share of the yuan in the assets of the NWF is now 60%, gold — 40%. Previously, the shares of yuan and gold were 30% and 20%, respectively.
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