Russian Finance Ministry Not Planning Any Immediate Restrictions On Gold Sales

Fahad Shabbir (@FahadShabbir) Published November 24, 2022 | 04:50 PM

MOSCOW (UrduPoint News / Sputnik - 24th November, 2022) The Russian Finance Ministry said on Thursday it was not considering any restrictions on the sale and purchase of gold by individuals and businesses at the moment, though limitations may apply to large exports in the future.

"We are not discussing any restrictions or freezes of sale-and-purchase deals with gold, neither for individuals nor for legal entities. On the contrary, the Russian Finance Ministry seeks to develop the precious metals market and make gold a market investment product," the statement read.

The ministry added, however, that restrictions may be introduced in the future on the export of precious metals by individuals "if the volume exceeds the permitted maximum."