The Russian central bank announced today that it is suspending gold purchases from banks so that they can meet the population's demand for the metal.
"In order to create conditions to meet the demand of the population, the Bank of Russia suspends the purchase of gold by credit institutions from 15 March 2022," the Bank of Russia said in a statement. "At the moment, the population's demand for buying gold bullion has increased, mainly due to the abolition of VAT on such transactions," the central bank said.
(CNA)
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