俄罗斯央行竟然开始变卖家底了——直接打开金库搬金条换钱！2025年11月20日，俄罗斯央行向国际文传电讯社确认，已开始出售国家储备的实物黄金来 填补财政窟窿。这场面堪比当铺典当传家宝，普京的钱袋子眼看就要底朝天！ 那么问题来了：俄罗斯为什么沦落到卖黄金度日？这场"卖金续命"的操作到底暴露了怎样的财政危机？战争烧钱的速度又有多恐怖？今天咱们就一口气扒 光这场黄金大拍卖的所有真相！ 这场黄金大甩卖的实锤来自克里姆林宫的官方通告。俄央行虽然没透露具体卖了多少黄金，但承认此举是为了"弥补国家预算所需资金"。 要知道，俄罗斯坐拥超过2300吨黄金储备，全球排名第五，这些金条本该是压箱底的战略资产，如今却成了应急提款机。 更扎心的是，西方制裁已冻结俄罗斯3000亿欧元外汇储备，几乎占其总外汇储备的一半，逼得俄罗斯只能从金库里掏家底。 深挖就发现，这场卖金潮是财政崩盘的连锁反应。2025年俄罗斯财政赤字飙升至3.7万亿卢布，是去年同期的数倍。 萨马拉州更狠，奖金从360万卢布暴跌至40万卢布，比打折促销还惨烈。前线士兵在社交媒体上哭诉几个月没收到补贴，财政部长西卢安诺夫的警告"可能 很快发不出工资"竟一语成谶。 更绝望的是 ...

克里姆林宫发言人佩斯科夫周二表示，印度对俄罗斯石油的进口可能只会下降"很短一段时间"，因为莫 斯科计划利用"先进技术"来规避西方制裁的影响，从而增加供应。 这番言论发表于俄罗斯总统普京将于周四开始对新德里进行为期两天的访问前夕，他此行旨在恢复防务 和能源关系，而这个南亚国家本月将削减俄罗斯石油采购量至至少三年来的低点。 作为俄罗斯海运石油的头号买家，印度在西方制裁的压力下削减了从莫斯科的原油进口，尤其是华盛顿 对莫斯科顶级石油生产商俄罗斯石油公司（Rosneft）和卢克石油公司（Lukoil）实施的制裁。 佩斯科夫在回答有关制裁影响的问题时告诉印度记者，"石油贸易量可能会在很短的一段时间内出现微 不足道的下降。" 国有的印度石油公司已向非受制裁实体订购俄罗斯石油，而巴拉特石油公司就进口俄罗斯石油的谈判正 处于后期阶段。 由俄罗斯支持的印度炼油商Nayara Energy（俄罗斯石油公司拥有部分股权）目前正专门加工俄罗斯石 油，此前由于英国和欧盟的制裁，其他供应商撤回了供应。 俄罗斯希望印度继续向Nayara提供支持，以促进其当地销售和产能利用率。 曾是俄罗斯在印度最大客户的信实工业（Reliance Indu ...

Core Viewpoint - Russia is aggressively selling its gold reserves due to economic pressures and the impact of Western sanctions, which has significant implications for the global gold market and countries like India that have invested heavily in gold [1][10]. Group 1: Russia's Gold Sales - Russia, holding over 2300 tons of gold, is forced to sell its reserves to address a budget deficit exacerbated by the ongoing conflict and sanctions [6][10]. - The gold being sold is considered "non-standard" due to sanctions, leading to a discount of $50 per ounce compared to market prices, indicating a fire sale [7][9]. - Countries like the UAE and Turkey are capitalizing on this situation, purchasing gold at discounted rates [7]. Group 2: Impact on India - India's trade deficit surged to $41.7 billion last month as it sought to acquire gold, expecting to profit from leasing it to mining companies or Wall Street firms [9]. - The sudden drop in global gold prices due to Russia's sales has resulted in significant paper losses for India, which is now unable to liquidate its gold easily due to existing leasing agreements [9]. Group 3: Economic Pressures on Russia - The economic strain on Russia is primarily due to the costs of the ongoing conflict, which has proven to be financially burdensome, contradicting earlier claims of becoming wealthier through warfare [10][16]. - Western sanctions have severely restricted Russia's access to foreign exchange reserves and traditional energy export revenues, leading to a cash flow crisis in its military-industrial complex [12][14]. - The inability to fulfill military contracts and the reduction in foreign orders have further compounded the financial difficulties faced by Russian military manufacturers [14]. Group 4: Future Strategies - Russia is looking towards Eastern markets for energy exports as a potential solution to its economic woes, indicating a strategic pivot away from reliance on Western markets [17]. - While selling gold is a temporary measure, it does not address the underlying economic issues, and the depletion of gold reserves could lead to increased dependence on Eastern markets in the future [19]. - The ongoing geopolitical tensions and sanctions are expected to prolong Russia's economic challenges, making it crucial for the country to stabilize its economy and military supply chains [21].

Core Viewpoint - Russia is selling natural gas to China at a significant discount, nearly at cost price, which raises questions about the motivations behind such a decision [1][3]. Group 1: Pricing and Economic Impact - The price of natural gas exported from Russia to China is between $28 million to $32 million per shipment, which is approximately 40% cheaper than international prices [3][10]. - China saves about $1.4 billion monthly due to these discounted prices [3]. - The cost of a conventional natural gas transport ship is around $44 million, indicating that Russia is incurring losses by selling below this cost [1]. Group 2: Russia's Economic Situation - The sanctions imposed by the U.S. have led to a halt in natural gas purchases from Russia by other countries, forcing Russia to sell at a loss to maintain operations [5]. - Stopping production is not feasible for Russia due to the risk of damaging expensive industrial equipment, which requires continuous operation [6][8]. - If production stops, the costs associated with unsold gas and storage become unsustainable, compelling Russia to sell even at a loss [8]. Group 3: China's Position and Risks - China does not lack alternative natural gas sources, primarily importing from Australia and Qatar, but the geopolitical landscape has limited Russia's buyers to mainly China [10]. - Accepting discounted Russian gas carries potential commercial and political risks for China, as it may affect its international standing [12]. - The cooperation between China and Russia in the natural gas sector is expected to strengthen with the upcoming "Power of Siberia 2" pipeline project, which aims to enhance energy collaboration [12][14]. Group 4: Future Outlook - The current trend of discounted gas exports from Russia to China is likely to continue as long as Western sanctions remain in place [14]. - The focus of energy cooperation between the two countries is expected to shift towards the "Power of Siberia 2" pipeline project, which could significantly deepen their energy relationship by around 2030 [14].

Core Viewpoint - Oil prices decreased as supply concerns diminished due to the resumption of loadings at a Russian export hub, which had been temporarily halted by a Ukrainian drone and missile strike, while traders are evaluating the effects of Western sanctions on Russian oil flows [1] Group 1 - Oil prices dipped on Tuesday [1] - Resumption of loadings at a Russian export hub eased supply concerns [1] - The loading halt was caused by a Ukrainian drone and missile strike [1] Group 2 - Traders are assessing the impact of Western sanctions on Russian oil flows [1]

Group 1 - The U.S. government has imposed sanctions on Lukoil and Rosneft, following similar actions by the UK, leading to an immediate increase in global oil prices [1] - Lukoil is the second-largest oil producer in Russia, accounting for approximately 2% of global oil production, with operations in 20 countries and a projected net profit of $10 billion for 2024 [1] - The company has begun evaluating potential buyers for its assets and may seek to extend its "business winding-up permit" to ensure uninterrupted operations of its international assets [2] Group 2 - Russia has consistently claimed that Western sanctions lack legitimacy and are counterproductive, with President Putin describing the U.S. actions as "unfriendly" but asserting they will not significantly impact the Russian economy [4] - Russian officials emphasize that pressure tactics are ineffective and advocate for constructive dialogue to achieve results [4]

Group 1 - The core message of the news is the ongoing dialogue between Russia and the United States, highlighted by the symbolic gesture of gifting chocolate featuring President Putin's image and quotes [1][3]. - Dmitryev, the Russian presidential representative, confirmed his arrival in the U.S. for discussions aimed at continuing bilateral dialogue, emphasizing the importance of understanding and respecting Russia's national interests [4]. - The chocolates gifted include phrases that reflect Russia's stance, such as "We will not abandon our people" and "It is futile to engage with Russia from a position of strength," indicating a strong message in the context of U.S.-Russia relations [3]. Group 2 - Dmitryev's visit was reportedly at the invitation of the U.S., suggesting a potential opening for renewed discussions despite existing tensions [4]. - He expressed concerns about European countries undermining direct dialogue between Russia and the U.S., particularly between leaders Putin and Trump [4]. - Dmitryev stated that Western sanctions and unfriendly measures would not impact the Russian economy but could lead to increased fuel prices in the U.S., indicating potential economic repercussions from geopolitical actions [4].

Core Points - Russia will respond to new Western sanctions based on its national interests [1] Group 1 - The statement was made by Kremlin spokesperson Dmitry Peskov during a routine telephone news briefing [1]

Core Insights - Russia, once controlling 9.3% of global refined oil exports, is facing an unprecedented fuel crisis, leading to plans for gasoline imports from China and temporary tax exemptions on these imports to address the growing domestic supply gap [1][3]. Group 1: Impact of Ukrainian Drone Strikes - Continuous drone attacks from Ukraine and Western sanctions have severely impacted Russia's energy sector, with 21 out of 38 refineries targeted since August 2025 [3]. - In September, four major refineries were forced to halt production, including the second-largest refinery in Russia, resulting in a 40% reduction in refining capacity and a daily loss of 33.8 thousand tons of refined oil [3][5]. - The gasoline production in Russia decreased by 1 million tons in September, creating a domestic market shortfall of 20% of consumption [3][5]. Group 2: Government Response and Import Strategy - The Russian government has proposed eliminating a 5% import tariff and a 13% VAT on gasoline from China, which could add 350 thousand tons of gasoline supply monthly [5]. - The strategy includes utilizing the China-Europe Railway Express to mitigate risks associated with transportation, marking a shift from traditional "crude for products" exchanges to a more flexible two-way supply model [5]. Group 3: Challenges and Long-term Implications - Importing gasoline is a temporary solution, as the 20-day shipping time and inland transport costs diminish the effectiveness of the tax exemptions [7]. - Fuel shortages are reported in over 20 regions in Russia, with oil prices rising by 45% since the beginning of the year, exacerbating the situation as winter approaches [7][9]. - The reliance on external supplies threatens Russia's economic stability and geopolitical strategy, highlighting the increasing importance of Eastern markets in this context [9].

Core Points - Russia is facing significant financial strain due to increased military spending and sanctions, leading to a nationwide tax increase for residents [4][6] - The defense budget for 2025 is projected at $150 billion, accounting for 6.3% of GDP, nearly doubling pre-war levels and consuming about 40% of national revenue [3][6] - The federal deficit reached $182 billion in the first half of the year, marking the highest level since 2008, with an average "war tax" of $1,070 per person [3][4] Financial Situation - The national wealth fund has been depleted by half, with $72 billion allocated for 2024, leaving only $85 billion by the third quarter, down from $190 billion pre-war [3][6] - Western sanctions have frozen $300 billion in overseas assets, limiting international transactions and borrowing options, forcing the central bank to increase money supply [3][6] - The broad money supply is expected to grow by 19% in 2024, contributing to rising inflation [3][6] Energy Sector - Energy exports to China and India account for 40% and 38% respectively, while exports to the EU have dwindled to 6% [6] - Revenue from energy exports has decreased from $160 billion in 2021 to an estimated $113.6 billion in 2024, with an 8% drop in the first eight months of this year [6] - International oil prices are lower than in 2022, and Russian oil is sold at a discount of $5-8 per barrel compared to Brent [6] - Maintenance costs for icebreakers and investments in energy infrastructure have further strained financial resources [6] - Production from aging oil fields in Siberia has declined from 500,000 barrels per day to 420,000 barrels per day, with projections of a 12% drop in total output by 2027 [6]