• Ukraine has sold $12.4 billion of its gold reserves since Russia’s invasion of Crimea.
• The gold is not being sold to support the hryvnia, the currency of Ukraine.
• Instead, it is being sold so that importers can buy critical products for the country.

Since the start of Russia’s invasion on February 24, the central bank of Ukraine has sold $12.4 billion of its gold reserves, according to the bank’s deputy governor on Sunday.

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According to Deputy Governor Kateryna Rozhkova, “We are selling (this gold) so that our importers can buy critical products for the country.” She said that the gold was not being sold to support the hryvnia, the currency of Ukraine.

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