How The West’s Ban On Russian Gold Could Backfire

Following Russia's invasion of Ukraine about a month ago, the U.S. and its western allies swiftly imposed a raft of economic and trade sanctions on Russia, notably on buying oil, a partial SWIFT ban and against billionaire oligarchs seen as close to President Vladimir Putin. Russia hit back by imposing export bans including telecoms, medical, vehicle, agricultural, and electrical equipment, as well as some forestry products such as timber. But it’s the latest round of sanctions that has been drawing mixed reactions across the board: the U.S.…