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🇷🇺 Silver Price Today in Russia | ₽6,550.2
Live silver price in Russian Ruble (RUB) — updated every minute
Last updated: May 4, 2026, 01:01 PM ET
Per Gram (RUB)
₽210.5937
Per Troy Oz (RUB)
₽6,550.20
Per Kg (RUB)
₽210,594
USD/Silver Spot
$72.78/oz
USD/RUB Rate
1 USD = 90 RUB
Gold/Silver Ratio
62.0:1
Silver Market in Russia
Russia is the world's second-largest silver producer, mining approximately 300–320 tonnes annually. The Central Bank of Russia dramatically increased silver reserves from 2014–2022 as part of a de-dollarization strategy, accumulating over 2,300 tonnes — the fifth-largest holding in the world. Western sanctions following the 2022 invasion of Ukraine blocked Russian silver from LBMA markets.
Why do people in Russia invest in silver?
Russian citizens have historically used silver to protect against ruble devaluation and economic crises. After the 2022 sanctions eliminated the VAT exemption on silver purchases (then reinstated), physical silver demand among Russian retail investors surged. The Sberbank and VTB silver coins and bars are the most widely held domestic products.
Frequently Asked Questions — Silver in Russia
What is the silver price in Russia today in rubles?
Russian silver prices in RUB are set by the Central Bank of Russia and major dealers. Due to Western sanctions, the ruble-dollar exchange rate is constrained and Russian silver pricing may diverge from international benchmarks.
Can Russians buy silver tax-free?
Russia eliminated VAT on physical silver purchases for individuals in March 2022 (down from 20%), significantly boosting demand. Capital gains on silver are still subject to personal income tax in Russia.
Why did Russia accumulate so much silver?
Russia systematically bought silver from 2014–2020 to reduce dependence on USD reserves. After SWIFT exclusion risks materialized in 2022, silver proved valuable as a sanction-resistant reserve asset. Russia's silver cannot be frozen like foreign currency reserves.
Is Russian silver affected by sanctions?
Yes. The G7 and EU banned imports of Russian silver following the 2022 invasion of Ukraine, cutting Russia off from the LBMA. Russian silver is now primarily sold to non-Western markets including India, China, and the UAE.