FT reported on Turkey's sale of $20 billion worth of gold during the crisis
Since the beginning of the military conflict in Iran, the Turkish Central Bank has organized gold sales and swaps totaling $20 billion to stabilize the lira. This was reported on April 8 by the Financial Times (FT) newspaper.
"The Central Bank of the Republic of Turkey sold 52 tons of gold in the period from February 27 to March 27 <... The central bank also organized gold exchange transactions worth about 79 tons, transactions involving the leasing of gold bars to generate income and increase downward pressure on prices. According to Financial Times calculations, the combined value of gold sales and exchange transactions is almost $20 billion. at current prices," the article says.
The authors of the article also noted that due to the large-scale sale of gold and foreign exchange reserves, Ankara's reserves have reached a historic low over the past two years. According to FT estimates, this is about 440 tons of pure gold.
The Ukrainian portal "Ministry of Finance" reported on March 14 that during the week (March 9-15. The National Bank of Ukraine has sold more than $1 billion of its gold and foreign exchange reserves to curb the depreciation of the hryvnia. According to the portal, the measures taken could not stop the sharp decline in the national currency. It is specified that since the beginning of the year, the National Bank of Ukraine has spent more than $ 8.3 billion from reserves and has not replenished them.
Earlier, the press service of the Russian Central Bank reported that Russia's international reserves amounted to $802.2 billion as of March 6, 2026. At the same time, Russia's gold reserves exceeded $400 billion on March 6 for the first time in history. It is noted that their share in the structure of international reserves increased to 48.3%, which was the highest since January 1995.
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