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Jim Rickards: Sanctions damage won't be confined to Russia
By James G. Rickards
The Daily Reckoning, Baltimore
Tuesday, March 8, 2022
There's no doubt that the financial sanctions put on Russia by the U.S., the U.K., EU members, and others are the most severe ever imposed. The U.S. Treasury has announced 15 sanctions programs in recent days and no doubt more are on the way.
The targets of these sanctions include Russian banks, Russian stocks and bonds, and various payment channels. Most significantly, the U.S. froze the accounts of the Central Bank of Russia. That's the first time a major central bank’s assets have been frozen since the Cold War, and possibly ever.
Yet the financial attacks on Russia go far beyond official sanctions. ...
... For the remainder of the analysis:
https://dailyreckoning.com/putins-options/
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