Russia eyes new rules on state’s gold, gem sales amid war

The Finance Ministry proposed this week to put a portion of the country’s gold and gems into a special reserve that can be accessed in times of war, according to the government documents website. If the proposal passes, the president will have more right to decide what to do with those reserves.

Separately, Russia’s Duma, the lower chamber of the parliament, last week approved new rules that allow the President more freedom to use the state’s treasures without consulting the government or parliament. This could be necessary if the country has to sell the assets urgently.

Russia’s state reserves include precious metals such as gold, platinum and palladium, as well as gems like diamonds, rubies and emeralds.