Putin on Freezing 300 Bln Russian Gold Reserves Due to Sanctions: We Earned Twice As Much

The restriction of payments in dollars has driven all countries to set their sights on payments in national currencies and keeping savings outside the United States, as trust in the West is being undermined, Russian President Vladimir Putin said on Tuesday.

"For example, restrictions on payments in dollars. Where does this lead? Because all countries are thinking about creating their own instruments, about creating new payment systems, they are thinking about whether it is worth keeping their savings in the United States or somewhere in Europe, whether it is worth investing their savings in the securities of these countries," Putin said at the plenary session of the ongoing Eastern Economic Forum in Vladivostok, adding that "trust [in those who impose these restrictions] is being undermined."

Commenting on the freezing of Russia's $300 billion gold reserves due to sanctions, Putin said, "We earned twice as much".