Russia Warns of ‘Financial War’ With U.S.

Russia Warns of ‘Financial War’ With U.S.

Russian Finance Minister Anton Siluanov has warned of a possible “financial war” with the U.S. if its central bank assets are frozen or seized as part of economic sanctions.

 

In a sudden and somewhat shocking declaration, Russia’s financial minister has declared that any attempt by the U.S. to seize his country’s gold reserves would be deemed an act of war.

Anton Siluanov was announcing his government’s new budget and how it was crafted with likely U.S. sanctions in mind. Then, he added:

“If our gold and currency reserves can be arrested, even if such a thought exists, it would be financial terrorism.”

It would be a recurring theme during his presentation. Not only did the Russian budget address sanctions, but also a precipitous drop in oil prices, according to government news reports. He reportedly said the budget was based on a $40 per barrel price, more than 30 percent less than its current price.

Siluanov then returned to the subject of asset seizures, saying that any move to freeze the foreign accounts of the Russian central bank would be “equal to declaring financial war on Russia.” He then said he considers such a scenario unlikely.

Still, it begs the question why he even brought the subject up in the first place. The U.S. Treasury Department is reportedly considering a new round of sanctions under the Global Magnitsky Act, but asset seizures relating to the Russian government have never been discussed publicly.

Full article: Russia Warns of ‘Financial War’ With U.S. (TruNews)

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