According to data from the International Monetary Fund, quoted by Bloomberg, Moscow bought 26.1 tonnes of gold last month, increasing its reserves to 2,170 tonnes. At today’s prices, they are worth roughly $83.6 billion, though a Russian government website pegs the value at about $77 billion.

Earlier this year, Moscow cut its holdings of US bills, notes and bonds by about four-fifths, but bought more gold, leading to speculation that the nation was dumping American assets to shield itself from the looming tougher sanctions.

Russia gold buying spree ahead of tougher US sanctions
The news comes a day after the Trump administration imposed new sanctions against Russia, — this time for helping North Korea evade international sanctions, as Moscow separately was accused of cyberattacks in the United States said to be aimed at undermining the midterm election in November.

The Kremlin continues to deny that it has engaged in any offensive cyber acts at all.