Will Western Sanctions Against Russia’s Gold Industry Work?

On July 14, both Western (Euractiv.com, July 13) and Russian (Rbc.ru, July 14) sources reported that the European Union’s seventh sanctions package will put an embargo on Russian gold imports. If this happens, the EU will join the United States, the United Kingdom, Canada, and Japan, which each already banned Russian gold imports some time ago (Interfax.ru, June 28). While Russian officials have attempted to ridicule the EU`s gold-related package, arguing that previous experience with anti-Russian sanctions has only led to EU citizens’…