A group of senators has submitted a bill to Congress that may prevent the Russian Federation from selling gold from its reserves in order to minimize the effect of sanctions imposed against it, Axios reports..

Russian sanctions have frozen the country's foreign currency assets, but its gold reserves could be a lifeline.. It is noted that the bill was filed by a "

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Russia's huge gold reserves are one of the few remaining assets that Putin can use to keep his country's economy from falling further..

By authorizing these stockpiles, we can further isolate Russia from the global economy and complicate Putin's increasingly costly military campaign,” Sen. Angus King, who co-sponsored the bill, said in a statement..

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Recall, Republican Senators Jerry Moran and Roger Marshall (Kansas) submitted a draft on refusing to import Russian oil for consideration. Both explained that the decision was related to Russia's invasion of Ukraine..

Moran says the Russians' " According to the senator, Putin's threats are not a bluff.