The sanctions screw once morest Kremlin dictator Vladimir Putin (69) is tightened once more!
The Western allies want to use new measures to prevent Russia from circumventing the internationally imposed sanctions and are focusing on gold trading. Any transaction involving gold related to the Russian central bank will be subject to sanctions, a senior US official announced on Thursday.
► The leading democratic economic powers (G7) and the European Union want to prevent the Russian central bank from using international reserves – including gold – to support the Russian economy. It would not be allowed to circumvent sanctions, it said.
“We understand that Russia is still trying to use its gold reserves to prop up the ruble – that is, sell its gold to buy rubles,” the US official said. Russia has a significant amount of gold, estimated to be worth between $100 billion and $240 billion. That is regarding 20 percent of the total reserves that Russia had before invading Ukraine. “We want to deprive Russia of the opportunity to use its gold to support its currency.” In view of the Russian war of aggression once morest Ukraine, three top meetings are taking place in Brussels this Thursday – a special NATO summit, an EU summit and a G7 summit .
The US, EU and other Western partners have already imposed very tough sanctions on Russia since the start of the war in Ukraine, in coordination with the EU and other allies. In mid-March, they agreed to withdraw trade concessions from the Russian Federation, paving the way for higher tariffs on Russian goods, for example. Sanctions were also imposed on the largest banks and the Russian central bank. The US issued a ban on oil imports from Russia. In addition, many companies are cutting their business with Russia of their own accord.
