Russia Builds Reserves of Assets Immune to Western Sanctions

The Russian news agency "TASS" reported today, Tuesday, that the head of the Russian central bank, Elvira Nabiullina, stated that "Russia is building international reserves in assets that cannot be targeted by Western sanctions." Western countries have frozen approximately 300 billion dollars, or about half of Russia's international reserves, after Moscow sent tens of thousands of troops to invade Ukraine last year. The Russian central bank previously noted that it considers "gold, the Chinese yuan, and foreign currencies held in cash as safe assets from potential further rounds of Western sanctions."