Experts say the transactions ban would in effect **apply secondary sanctions on people who trade in gold with Russia.**
“It is another way to close sanctions loopholes, and increase economic pressure on Russian entities,” Rachel Ziemba, an adjunct senior fellow at the Center for a New American Security, told The Associated Press news agency.
The move is also an attempt to prevent innovative financial transactions through other countries that continue to do business with Russia.
so basically anyone can still buy gold from the Russian Central Bank,but any entity/individual who does so will face sanctions from **US,EU,UK, Japan,Australia, Korea and probably all other western countries**
Russia will 100% eventually find buyers,but they would have to sell the gold a**t a huge discount**
Keep in mind that India bought Russian oil with **50% discount**
For gold,the discount could be higher
this means that the only reserves Russia can fully access now are its Chinese reserves,but **Chinese reserves account only for 13% of Russia’s Central Bank reserves**
i seriously doubt Putin prepared for this level of sanctions
sure,he still has the fossil fuel exports,but they are increasingly sold at a discount as well
people were criticizing Shell for buying Russian oil for 28$ a barell, but no one realized hw **desperate Russia** is for money if they want to sell oil that cheap
there will always be people who criticize sanctions and say they are ineffective, but they forget that sanctions serves as a detterent example for other countries
there are plenty of countries in the world who would take a chunk from their neighbors or commit genocide on ethnic minorities,but the government is holding out fro**m doing that due to the fear of sanctions**
**most of all,China is watching with great attention the response to the Russian invasion**
and i hope they will get the memo that an invasion would cost their economy enormously on the long run
Aren’t the U.S.A. part of the G7? So why “US, G7”?
Should give the Russian gold reserves to Spain as payback.
We need to increase independence from all these centralized systems so that mo country can use it to pressure another.
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Experts say the transactions ban would in effect **apply secondary sanctions on people who trade in gold with Russia.**
“It is another way to close sanctions loopholes, and increase economic pressure on Russian entities,” Rachel Ziemba, an adjunct senior fellow at the Center for a New American Security, told The Associated Press news agency.
The move is also an attempt to prevent innovative financial transactions through other countries that continue to do business with Russia.
so basically anyone can still buy gold from the Russian Central Bank,but any entity/individual who does so will face sanctions from **US,EU,UK, Japan,Australia, Korea and probably all other western countries**
Russia will 100% eventually find buyers,but they would have to sell the gold a**t a huge discount**
Keep in mind that India bought Russian oil with **50% discount**
For gold,the discount could be higher
this means that the only reserves Russia can fully access now are its Chinese reserves,but **Chinese reserves account only for 13% of Russia’s Central Bank reserves**
[https://www.statista.com/chart/26940/russian-central-bank-foreign-currency-and-gold-reserves-by-holder/](https://www.statista.com/chart/26940/russian-central-bank-foreign-currency-and-gold-reserves-by-holder/)
i seriously doubt Putin prepared for this level of sanctions
sure,he still has the fossil fuel exports,but they are increasingly sold at a discount as well
people were criticizing Shell for buying Russian oil for 28$ a barell, but no one realized hw **desperate Russia** is for money if they want to sell oil that cheap
there will always be people who criticize sanctions and say they are ineffective, but they forget that sanctions serves as a detterent example for other countries
there are plenty of countries in the world who would take a chunk from their neighbors or commit genocide on ethnic minorities,but the government is holding out fro**m doing that due to the fear of sanctions**
**most of all,China is watching with great attention the response to the Russian invasion**
and i hope they will get the memo that an invasion would cost their economy enormously on the long run
Aren’t the U.S.A. part of the G7? So why “US, G7”?
Should give the Russian gold reserves to Spain as payback.
We need to increase independence from all these centralized systems so that mo country can use it to pressure another.