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If Russia's foreign reserves are stored in foreign banks, access to those reserves can also be limited via sanctions
by spideymans 5y ago
If Russia's foreign reserves are stored in foreign banks, access to those reserves can also be limited via sanctions
- JumpCrisscross 5y ago> If Russia's foreign reserves are stored in foreign banks, access to those reserves can also be limited via sanctions All reserves not physically held are subject to sanctions. And the Russian central bank is being sanctioned by the U.S. and Europe.
- naveen99 5y agoI wonder why Russia didn’t dump its foreign reserves before invading Ukraine. I wonder how much more than $600 billion is Ukraine worth to Russia.
- ceejayoz 5y agoJust a couple days ago it looked unlikely SWIFT would be involved. It's very possible Russia didn't expect magnitude of the sanctions being applied at all.
- naveen99 5y agoWith US dollar reserves and gold being hard to use for Russia, I would think Russia and China will learn the value of self custody and self mining of cryptocurrency. The other alternative is to reinvest the money in real time inside their own borders: maybe build a few semiconductor fabs ?
- rwaksmunski 5y agoThey expected their puppet government to be in place in under 72 hours.