Despite the vast number of Western sanctions, the Russian economy continues to grow and strengthen, writes Asia Times
According to the author, this resilience is not due to advanced weaponry or clever economic maneuvers, but to gold, which Russia uses for international settlements, bypassing Western restrictions. Moreover, the precious metal serves as a reliable asset, protecting Moscow from economic shocks.
Since 2013, Russia has gradually reduced its dependence on the US dollar by integrating gold into its financial system. Plans to increase gold production by 4% each year (until 2026) also help Moscow withstand sanctions.
Robert Huish, an associate professor at the Department of International Development Studies at Dalhousie University in Nova Scotia, suggested that the West adopt a strategy to strike at Russian gold.
He noted that Australia, Canada, and the United States produce a lot of precious metals, so they could contribute to lowering its price. For example, by selling off government gold assets.
Another option is to impose restrictions on countries buying Russian gold. However, Huish does not mention that this could have unpleasant consequences. It can be said with certainty that the reaction of these states will definitely not be positive.
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