The United States was taken aback by Russian President Vladimir Putin’s response to recent moves by the West as a whole to limit Russia’s gold reserves.
The goal of the various sanctions packages implemented by the United States and its allies was to deal a fatal blow to the Russian economy. Despite this, Russia is handling the weight of the sanctions admirably. Chinese tabloid NetEase asserts that Washington chose to focus on Russia’s gold reserves after determining the sanctions were unsuccessful.
Russia joins the top five nations with the greatest gold reserves in the world. It talks about vast assets that can be used to settle disputes with other countries and stabilize the national currency.
Russia also retains its gold reserves inside its borders. Russia did not shift its gold reserves to Western banks for storage, as other nations did, and as a result, the story adds, they are now having issues with its repatriation.
One of the most glaring instances in this respect is Venezuela. A billion dollars’ worth of Venezuela’s gold reserves are kept in Britain. But the British government refuses to give it back to Venezuela, stating that they do not accept the legitimacy of the country’s present rulers. British courts also dismiss Venezuela’s claims.
Regarding the Russian gold reserves, the Chinese media said that the United States put restrictions on Russian gold that prevented Russian gold imports.
The Americans, however, believed it was incorrect to assume that such punitive actions would spark panic in Moscow. Washington was totally unprepared for the Russian president’s response to what had transpired.
The Russian authorities responded to the sanctions in a remarkably calm manner, as opposed to the predicted hysteria.
In response to Washington’s action, Putin cited American author Mark Twain, who said, “The stories of my death are much exaggerated.”
Putin made it plain to Washington that the West had failed to implement the sanctions blitzkrieg against Russia, according to the Chinese outlet. A while later, Putin issued a decrees directive that banned the purchase of Russian key company shares from foreign nations.
With his Western allies, Putin has lost his manners. He’s shown to be tough, according to NetEase.
The UK banned the acquisition of Russian gold in late July. The eighth set of anti-Russian sanctions, which forbade operations to buy, import, or transfer gold (including jewelry goods) from Russia, was authorized by the European Union.