Mardanov spoke about the storage location of Russia's gold reserves

Russia's gold and foreign exchange reserves are stored directly inside the country, in special vaults of the Central Bank. This was announced on March 11 by Rustem Mardanov, head of the Central Department of the Bank of Russia for the Central Federal District.

"The record increase in the value of gold reserves in 2025 is solely related to the dynamics of global gold prices. The physical volume of reserves remained almost stable. <...> All the gold of the international reserves is stored in the vaults of the Central Bank in Russia," Mardanov said in an interview with the portal NEWS.ru .

Mardanov stressed that the value of gold and foreign exchange reserves reached a historic high of $326.5 billion due to the increase in the price of gold. However, the amount of the metal itself in the Central Bank's reserves has decreased slightly.

Small changes in physical volume are associated with regular internal operations of the Central Bank. Mardanov did not disclose specifics about the storage locations, citing the need for financial security. At the same time, he pointed out that the share of gold in the structure of all reserves is more than 43%, adding "Газета.Ru ".

For all that gold: deposits in precious metals will make them more attractive

This will be facilitated by the abolition of VAT on income from these instruments.

On March 6, Russia's gold reserves exceeded $400 billion for the first time. Thus, the value of Russia's gold assets reached a record high of $402.7 billion.

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