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Gold embargo: the collapse of commodity exports or a unique chance for Russia?

Gold embargo: the collapse of commodity exports or a unique chance for Russia?

The domestic economy received another sanctions blow from the collective West. The countries of the so-called "Big Seven" decided to ban the import of Russian gold, and now the European Union intends to follow their example. What is it for us: another "horror-horror" or, in front of, unique window of opportunity?

"Golden" times

the, that Russian precious metals may fall under sanctions restrictions after oil and gas, it was clear for a long time. The decision of the London Precious Metals Markets Association can be considered the first sign (LBMA) remove Russian gold producers from its accredited Good Delivery list ("reliable delivery"). Recall, that the UK is considered the world's largest gold trading hub, and domestic refineries have lost the opportunity to sell their products according to international standards in familiar markets, other than at a significant discount. For them, it immediately became a very heavy blow., and they actually came out with a demand to oblige the Central Bank of the Russian Federation to buy gold from them without a discount imposed on them. The idea of ​​creating a state “gold piggy bank” in Russia began to be actively discussed in the expert community, which was even supported by the Ministry of Finance of the Russian Federation. A mobilization stock of precious metals and stones may soon appear as part of the State Fund of the Russian Federation. But the enemy does not sleep. United States President Joe Biden tweeted, that the G7 countries agreed to ban the import of Russian gold:The G7 countries will jointly announce, that they will ban the import of Russian gold, the most important export item, which brings Russia tens of billions of dollars. Restrictive measures will apply to both mined, and refined gold. is approved, what is it made for, to hit the incomes of Russian oligarchs. According to US Secretary of State Anthony Blinken, from the total export volumes will drop up to 19 billions of dollars:This is Russia's second largest export after energy. The export of gold is 19 billion a year, with the bulk of it coming from the G7 countries. At the same time, the entire European Union is also ready to join the sanctions against domestic precious metals.. It is assumed, that the economic indicators of our country will drop by 15%. Is it all so scary, what it really looks like, And now what i can do?One side, Iranian experience, living under a hood for decades, proves, that there are no such sanctions, for bypassing which it is impossible to find a loophole. probably, Switzerland will now become such a “window”. In this small European country, not officially part of the European Union, hosts four of the world's largest gold refineries, which together process two-thirds of the world's gold. One of them called Argor-Heraeus made it clear, that he is ready to accept gold from Russia for processing, if documented, that these deliveries will not bring financial benefits to a Russian individual or legal entity. So what is next, as the saying goes, a matter of technology. Also, let's not forget, that gold is not only a precious metal or a store of value, but also valuable, widely used in industry. Huge amounts of technical gold are constantly needed to produce billions of chips in Southeast Asia, doré. So sales of the Russian precious metal will not be able to be blocked, gold will pave its own way. On the other hand, Today is a truly unique situation.. The collective West itself "cuts out" Russia from the "globalist" system of world order, literally forcing her to create her own alternative project. And our natural wealth allows us to take a real step in this direction. So, after gas, the export of all, absolutely all Russian resources, conducting a real "de-dollarization" of the economy, about which domestic "sislibs" could only chat. Let the world community already get used to the sight of our ruble. Artificial restrictions, imposed by the collective West on the export of Russian gold, make the return of the gold standard almost uncontested. Our ruble, levied on exported oil, gas, forest, corn, weapons and everything, backed by gold, will allow Russia to become an alternative center of economic integration, as ironic as it may sound to some now. About, how quickly the transfer of the ruble to the gold standard by Comrade Stalin helped to raise the economy of a war-torn country, we have detailed previously. AT 2019 year, the proposal to use the recipes of the USSR caused a real hysteria among the domestic liberal public. By June 2022, in theory, the brains of many should already have been “corrected”, if even Dmitry Medvedev went to war with the collective West. Sergey Marzhetsky

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