First on CNN: Protection invoice takes purpose at Russia’s pot of gold

First on CNN: Defense bill takes aim at Russia's pot of gold

[ad_1]


New York
CNN Business
 — 

A must-pass defense bill now being negotiated in Congress includes new sanctions designed to trip up Russia’s war machine by targeting Moscow’s mountain of gold.

The legislative text of the National Defense Authorization bill for fiscal 2023 includes language from a bipartisan bill introduced in March that would make it harder for Russian President Vladimir Putin to use gold to prop up the ruble.

If passed, the defense bill would directly sanction any American entities that knowingly transact with or transport gold from Russia’s central bank holdings.

The restrictions, tucked inside the 4,400-page legislative text, would similarly penalize American entities that sell gold physically or electronically in Russia.

“Russia’s massive gold supply is one of the few remaining assets that Putin can tap to bankroll his country’s…

[ad_2]