RE: Just Announced26 Jun 2022 14:04
"In recent years, gold has been the top Russian export after energy — reaching almost $19 billion or about 5% of global gold exports, in 2020, according to the White House. Of Russian gold exports, 90% was consigned to G-7 countries. Of these Russian exports, over 90%, or nearly $17 billion, was exported to the UK. The United States imported less than $200 million in gold from Russia in 2019, and under $1 million in 2020 and 2021."
That is a big hit and if Russia can't sell it's 90% of exports to the G7 countries, that's very serious news. So where the sell it, there's no one that can take up that slack. Russian produce gold will flood it's domestic market