How Effective Can Banning Gold from Russia Be?
Russia’s unprovoked invasion of Ukraine has resulted in a slew of economic sanctions from Western nations looking to harm its war efforts. These sanctions includes financial measures against Russia’s largest financial institutions, bans on Russian oil and natural gas, and sanctions against individuals and businesses that are thought to be close to the Kremlin. More than four months after Russian troops invaded Ukraine, some leading Western nations are now working on the details of a ban on gold exports from Russia. The ban is expected to receive formal approval by the end of the week after the United Kingdom, the…