Ukraine central bank has sold over $12 billion of its gold reserves during the war, its deputy head says

Buildings destroyed by navy strikes are seen, as Russia’s invasion of Ukraine continues, in northern Saltivka, probably the most broken residential areas of Kharkiv, Ukraine July 17, 2022. REUTERS/Nacho Doce

KYIV, July 17 (Reuters) – Ukraine’s central financial institution has bought $12.4 billion of gold reserves for the reason that starting of Russia’s invasion on Feb. 24, the financial institution’s deputy head mentioned on Sunday.

“We’re promoting (this gold) in order that our importers are in a position to purchase essential items for the nation,” Deputy Governor Kateryna Rozhkova instructed nationwide tv. She mentioned the gold was not being bought to shore up Ukraine’s hryvnia foreign money.

Reporting by Max Hunder; modifying by Tom Balmforth and Gareth Jones

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