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Russia's Treasury was forced to sell 3.6 tons of gold from the National Reserve for 2.3 billion Chinese yuans because of a catastrophic drop in sales of oil and natural gas.

It is Russia's biggest attempt to counter a budget deficit the size of which they haven't seen since 1998.

All this to a chorus of cheers from state TV stations about how they are going to starve Europe by cutting off gas supplies.

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