Russia's gold reserves skyrocket thanks to Trump and Malcolm Turnbull

Gold prices have skyrocketed since Trump’s tariffs, hence so has the value of Russia’s gold reserves which will soon reach $260 billion, allowing Russia to deal with its economic crisis caused by Western sanctions, and eventually enable Putin to back the Russian rouble with gold. This would lead to his dream of destroying the US dollar. 

But Putin also needs to thank Australian company, STAR Mining, of which Malcolm Turnbull was a director at the time. STAR poured US$60 million into the development of Russia’s largest gold deposit, Sukhoi Log, worth US$30 billion, only to be stripped of the deposit in 1997 by the Supreme Court of the Russian Federation.  Why?  Simply because Putin decided to keep the deposit for himself and is now mining it – adding to Russian gold reserves.  All this is detailed in my upcoming book, “For the Love if Russian Gold” to be released by Koehler Books on 15 April 2025.  Order now https://www.ludmilamelnikoff.com/

Photo: Russian president Vladimir Putin (Getty images). Sources: Bloomberg, Deutsche Welle, ForexClub, 10 April 2025

The Malcolm Turnbull of old (in 1993); merchant banker and director of STAR Mining. Picture: Greg Newington