ICYMI, a brief item from Bloomberg reporting on a statement from Russia's Finance Ministry saying boosted revenue from oil and gas means it'll be buying gold and FX again. Russia gets around a third of its budget revenues from the oil and gas industry.

The finance ministry has been selling gold and FX this year. Indeed, purchases were halted in January 2022. Since the country invaded Ukraine, most of its reserves have been frozen by US and European sanctions. Russia is still able to buy yuan.

Further details are thin.

russia oil pipeline 02 May 2022