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    Russia Warns Washington: Confiscating Gold Reserves Would Be “Declaration Of Financial War”

    Tyler Durden
    November 29th, 2017
    Zero Hedge
    Comments (12)
    Read by 3,203 people

    This article was originally published by Tyler Durden at Zero Hedge

    gold-nuggets2

    In a surprising, and unexpected warning – which seemingly came out of nowhere – Russia’s Finance Minister Anton Siluanov cautioned Washington yesterday that “If our gold and currency reserves can be arrested, even if such a thought exists, it would be financial terrorism.”

    The comment appears to have been prompted by consideration of escalating US/EU sanctions which could ultimately impact Russia’s offshore held gold and reserves. If sanctions include the freezing of foreign accounts of the central bank, it would be equal to declaring financial war on Russia, Siluanov said, although he added that he considers such a scenario unlikely (for now).

    After making the point that Russia’s budget is prepared for the possibility of tougher US/EU sanctions, RT reports that Siluanov warned if the west include the seizure of Russia’s foreign exchange reserves, it would be regarded as a “declaration of a financial war.”

    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 then, our so-called friends would say – if you want to get help from the International Monetary Fund, you must do this and that,” said Siluanov.

    If sanctions include the freezing of foreign accounts of the central bank, it would be equal to declaring financial war on Russia, Siluanov said. He added that he considers such a scenario unlikely.

    As a reminder, in June, Reuters reported that soon after the Crimea reunification with Russia, the Central Bank of Russia allegedly withdrew about $115 billion from the New York Fed. After about two weeks, Russian officials reportedly returned most of the money to its Fed account.

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    Author: Tyler Durden
    Views: Read by 3,203 people
    Date: November 29th, 2017
    Website: http://www.zerohedge.com/

    Copyright Information: This content has been contributed to SHTFplan by a third-party or has been republished with permission from the author. Please contact the author directly for republishing information.

    12 Comments...

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    1. gandhi says:

      confiscate some gold for me too

    2. Heartless says:

      no gold for you Russkie. We gave it all to Hillary as a bonus for the uranium she sold ya. zoloto ischezlo

    3. John Stiner says:

      Those Russian retards are foolish to think the gold is still there. It was sold off long ago. The only thing in the vaults is a worthless I.O.U.

      Just ask Germany. Remember when they tried to repatriate their gold? How did that work out for them?

    4. Germany eventually received their gold, a bit quicker than they were told they would have it.

    5. RickE. says:

      Come on Russia, quit acting like pussies and start being more assertive and logical! The USA government is trying to bury you and your economy!
      Grow some balls and quit pussy-footing around! You understate everything to your disadvantage.
      You’re gonna have to fight back and either sink or swim.
      China and Russia have the means to fight back and sell off our debt that they have bought. This would decimate the US dollar.

     

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