Russia's federal budget is prepared for the possible toughening of US sanctions. However, if they include the seizure of Russia's foreign exchange reserves, it would be regarded as a "declaration of a financial war," the Russian finance ministry warns. "If our gold and currency reserves can be arrested, even if such a thought exists, it would be financial terrorism," said Russian Finance Minister Anton Siluanov. According to Siluanov, the budget takes into account the risk of income shortfalls. The budget is based on oil prices at $40 per barrel, which is almost a third lower than the current price. The budget "has a margin of safety in case of restrictions and sanctions." It also includes losses incurred by a probable ban on investment in Russian government bonds for foreign funds. The US Treasury is currently considering such penalties. "If we did not have a margin of safety, then it would be easy to weaken us. And...
from GoldBroker.com https://www.goldbroker.com/news/confiscation-of-russian-gold-reserves-would-be-declaration-of-financial-war-1238
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