With gold as the ultimate reserve assets of the Bank of Russia, and with London a critical hub in the global gold market through the London Bullion Market Association (LBMA) and its famous London Good Delivery lists of accredited gold and silver refiners, it therefore begged the question as to what would the LBMA do about the large number of Russian gold refineries on the LBMA Good Delivery Lists, refiners which are embedded with the Russian banks in the Russian gold market.
With gold as the ultimate reserve assets of the Bank of Russia, and with London a critical hub in the global gold market through the London Bullion Market Association (LBMA) and its famous London Good Delivery lists of accredited gold and silver refiners, it therefore begged the question as to what would the LBMA do about the large number of Russian gold refineries on the LBMA Good Delivery Lists, refiners which are embedded with the Russian banks in the Russian gold market.