News & Opinion | July 22, 2018 5:00 am

Russian Warship Wreck Believed to Hold $130 Billion Worth of Gold

The wreck was reportedly found by a South Korean salvage team.

Imperial Russian Cruiser Dmitriy Donskoy. (Wikipedia)

The wreck of a Russian warship that is believed to still contain 200 tons of gold bullion and coins worth $130 billion has reportedly been discovered by a South Korean salvage team. The Russian Imperial Navy cruiser Dmitrii Donskoi, which was sunk 113 years ago during a naval battle, was discovered about 1,400 feet deep in the ocean about one mile off the South Korean island of Ulleungdo, reports CNBC. The team was made up of experts from South Korea, Britain and Canada.

The images captured by the team show  “extensive damage to the vessel caused in an encounter with Japanese warships in May 1905, along with cannons and deck guns encrusted with marine growth, the anchor and the ship’s wheel,” according to The Telegraph. It has been reported that the Dmitrii Donskoi went down with 5,500 boxes of gold bars and coins, which still exist in the holds. Half of any treasure found aboard would be handed over to the Russian government, and 10 percent of the remainder would be invested in tourism projects on Ulleungdo Island.