Gold price today are currently fluctuating across various countries. In the US, the gold price today is $4,100 down around -0.34% over the past 24 hours, influenced by the Fed’s proposed interest rate cut. Unlike other countries, the Russian government has announced major measures to clamp down on illicit money flows and illegal transactions. At a Kremlin meeting on yesterday (8/12/25), Deputy Prime Minister Alexander Novak confirmed that Moscow is preparing a new ban on the export of cash rubles and gold bars, a policy described as part of a large-scale “economic cleanup” operation.
This measure was directly ordered by President Vladimir Putin, who asked the government to accelerate efforts to suppress the shadow economy amid fiscal pressures and increase oversight of capital outflows. This policy is expected to impact the current gold price today, as Russia is a major global gold producer and supplier.
Russia Halts Gold Bar Exports, New Limits Set
Novak explained that the export of cash rubles “of unknown origin” would be completely banned, as would the export of gold bullion. The government appears to be increasingly aggressive in closing loopholes for gold smuggling, which have long been used in illicit transactions.
The Finance Ministry’s proposal would require individuals to take a maximum of 100 grams of gold out of the country. This regulation comes after reports that gold is increasingly becoming a substitute for foreign currency in money laundering and capital refugee practices.
Deputy Finance Minister Alexei Moiseev previously complained that gold has become a popular tool in illegal transactions, especially after wartime currency controls opened new loopholes exploited by illicit economic actors.
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20–25 Tons of Gold Allegedly Abroad
The CEO of metals producer Krastsvetmet, Mikhail Dyagilev, estimates that Russians will take 20–25 tons of gold bullion out of the country during 2022–2023 due to regulatory loopholes. This figure illustrates the immense pressure the government is under to safeguard national assets.
This policy is expected to have a direct impact on gold price today, as the market anticipates reduced supply from Russia and potential changes in demand from individuals who previously relied on direct export channels.
Government Aims to Reduce Shadow Economy by 1.5% of GDP
Novak stated that the government’s overall goal is to reduce the shadow economy by 1.5% of GDP within three years and increase 1 trillion rubles (US$13.1 billion) in tax revenue. In addition to gold and ruble export transactions, this policy package also includes:
- Tightening imports
- Monitoring of retail transactions without cash registers
- Tighter regulations for self-employed workers
- Oversight of cryptocurrency
- Eradicating illegal lending
- Controlling the alcohol and tobacco markets
Putin emphasized that tightening law enforcement is a national priority.
With the VAT increase, we must ensure that nothing moves illegally. Everything must be legal, and revenue must go to the budget.
Russia’s policy of curbing the outflow of gold bullion has added new tensions to the global commodity market. With the potential for supply cuts, gold price today are increasingly sensitive to policy fluctuations and geopolitical sentiment. Are you among those who agree with President Vladimir Putin’s policies?
Also read: Gold Price Today See a Slight Correction: XAU/USD Moves Between US$4,211 and US$4,234 – Price in UK
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