Russia Returns to the Gold Standard

The government will abolish the value added tax (tax) on gold bullion. This bill will be introduced to the State Duma on March 4. In the future, when buying gold bars or other precious metals from a bank, the current 20% tax on the value of the gold will no longer apply.

This is to ensure that people can safely invest in something other than the dollar (normally people hold their cash in dollars as the ruble is volatile).

Checkmate?