In the past few months, since the Russian invasion of Ukraine, governments around the world, including the US, have issued massive sanctions in an effort to cripple the Russian economy for the needless devastation it has caused on Ukraine and its people.
Unlike previous sanctions, which have been focused on the Kremlin’s behavior, these much more aggressive sanctions are intended to have a heavy impact on Russia’s economic status and its ability to conduct business with the rest of the entire globe. However, with all the rippling consequences of these sanctions, we can’t help but wonder whether the actual harm is being done to the Russian government or to the powerless citizens of countries across the world.
Russia is deeply ingrained in the global market and the attempt to cripple them in global business may not have the intended effect. In fact, here in the US, we are feeling the sanctions ourselves when it comes to putting fuel in our vehicles and putting food on our tables.
Banning Russian fuel imports has caused our gas prices to soar, which trickles down to affect everything else as all products require fuel to move them from place to place.
Our economy, already fragile from the pandemic, is not yet looking to better days. In fact, inflation is still on the rise and we’re looking at a projected recession.
In these times, it’s often a wise choice to invest in gold and other precious metals as a source of financial stability. Gold and precious metals tend to stay stable in their value as the dollar and other currencies fluctuate.