On Tuesday, the Group of Seven nations agreed on a ban on Russian gold imports in the latest round of sanctions over Russian President Vladimir Putin's invasion of Ukraine.The U.S. says Russia has used gold to support its currency as a way to circumvent the impact of sanctions. One way to do that is by swapping gold for a more liquid foreign exchange that is not subject to current sanctions.
Russia began increasing its gold purchases in 2014, after the U.S. issued sanctions on Russia for Putin's invasion of Crimea. Now the country holds US$100 billion to $140 billion in gold reserves, which is roughly 20% of the holdings in the Russian Central Bank, according to U.S. officials.
Swiss customs officials on Friday said they are tracking roughly 3 tons of Russian gold -- worth more than $202 million -- that entered Switzerland from the United Kingdom last month as they monitor potential violations of economic sanctions against Russia.In March, the U.S. and its allies moved to block financial transactions with Russia's Central Bank that involve gold, aiming to further restrict the country's ability to use its international reserves.
Source: News Formal (newsformal.com)
It wouldn't.
The Chinese will be more than happy to buy it all. They already have vast holdings of commodities.
Everyone will continue to buy the gold.Only the dummies full of jealous hatred putting sanctions will suffer.Price of gold will go sky high for you. The sanctions have proven to only hurt yourselves and others. How stupid can the governments get ! Unlike you Russias intelligent !
Can't Eat Gold
Destroying a mall with people inside is insane by Putin. All those innocent lives taken because of a country he wants. Why doesn’t Ukrainian forces attack Russia defences. I can’t believe this over a country.
I have a better idea: let's fire all the war profiteers and explore space together, in peace.
You guys really want nuclear war eh?
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
G7 leaders hear from Ukrainian President, Russia-allied India at summitUkrainian President Volodymyr Zelenskyy addressed G7 leaders virtually at their summit in Germany as they discussed the threat to global stability posed by Russia's invasion of his country. I wonder what these maskless wonders are cooking up next? Every time they get together another crisis begins.
Source: CP24 - 🏆 30. / 67 Read more »
G7 leaders to hear from Ukrainian President, Russia-allied India at summit | National NewswatchNational Newswatch: Canada's most comprehensive site for political news and views. Make it a daily habit.
Source: natnewswatch - 🏆 58. / 59 Read more »
G-7 leaders end summit pledging to hurt Russia economically | National NewswatchNational Newswatch: Canada's most comprehensive site for political news and views. Make it a daily habit. The look of complete nastyness and so many more negative words in their faces . Do people realize they are demoralizing the Humans who live in Russia? So many people, families, children , they make it thru the hardest times with so little again look at these faces of evil. Just my opinion.
Source: natnewswatch - 🏆 58. / 59 Read more »
Canada ships seeds to Ukraine to help hard-pressed farmers targeted by RussiaBut ignores its own farmers? Odd, never heard of Trudeau et al. helping Yemen like they r helping the Ukraine. Why is that? The bodies r buried in the Ukraine they want to keep Putin from digging it up. Biolabs, Burisma... Let's stop funding Nazi extremists in Ukraine with Canadian tax dollars Never seems to be war for zelenskyy just photo ops and brown nosing
Source: CTVNews - 🏆 1. / 99 Read more »
Canada sending Ukraine seeds to help farmers amid Russia war - National | Globalnews.caUkraine's farmers have had their fields mined by Russian troops and their storage silos destroyed, and many agricultural workers are fighting the Russians. It's going to cost more still because their equipment runs on Diesel fuel. Which Trudeau wanted to make more expensive because 🎵climate change Help Canadians with our inflation.. help your people first for Christ sake. No they are not. Not with the Trudeau regime working against them.
Source: GlobalNational - 🏆 81. / 51 Read more »
Canada targets 74 people and businesses in Russia, Belarus with new sanctions - National | Globalnews.caJustin Trudeau says Canada also plans to sanction those related to state-sponsored disinformation and propaganda agents, in an attempt to counter Kremlin disinformation. Trudeau should sort out his own backyard before worries about the rest of the world The Russians just bombed a shopping mall. The sanctions seem to really be working…. So far these sanctions have hurt Canadians a lot more than they're affected Putin. Let's stop doubling down on failures Justin.
Source: GlobalNational - 🏆 81. / 51 Read more »