This article was originally published by Tyler Durden at Zero Hedge
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.
confiscate some gold for me too
Go pull some gold geww teeth and get yer own.
Heck you could make a nice necklace or put it in a ring setting for the ol lady!
no gold for you Russkie. We gave it all to Hillary as a bonus for the uranium she sold ya. zoloto ischezlo
How could they be so stupid as to keep their gold offshore where the sharks can steal it? Like they say… he who holds nothing has nothing. C’mon Vlad, your smarter than that…
Gold in the United States. Russia holds 100млр. in stock USA .In Russia American loans 500млр. Which will be immediately withdrawn from such confidence.
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?
The gold was returned to them.
You really need to stay apace with global news.
But I do agree with your first sentence.
But did they test it? Could be gold plated tungsten like ol Klinton tried to pull off.
Germany eventually received their gold, a bit quicker than they were told they would have it.
Good thing too. Just in time to help pay for all the muslim trash they are taking on…
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.