HomeNewsFinanceThe Role of Economic Sanctions in Modern Warfare

The Role of Economic Sanctions in Modern Warfare

This year, Russia took an aggressive step beyond simple provocation, fully invading that nation of Ukraine as an act of war. This unprecedented conflict in our modern age has caused many banks and brands alike to withdraw from the Russian economy in retaliation. 

 

One area of financial sanctions includes SWIFT, a worldwide banking service provider that has removed Russian banks from the global system. Provided that these financial sanctions continue, projections estimate that Russia’s economy will contract by up to 15% in 2022 alone. 

 

The intent of these efforts is to slow down Russia’s invasion without resorting to a full scale military conflict with many of the world’s nations. However, many Russian citizens have taken action, trying to invest in gold and Bitcoin, thereby further divesting from the Ruble.

 

Learn more about the financial sanctions against Russia in the visual deep dive below, courtesy of the United States Gold Bureau:

financial war
Source: USGoldBureau.com

Brian Wallace
Brian Wallacehttps://nowsourcing.com/
Brian Wallace is the Founder and President of NowSourcing, an industry leading content marketing agency that makes the world's ideas simple, visual, and influential. Brian is the go-to resource for visual storytelling in the crypto / blockchain market since 2015, representing numerous cryptocurrency-related publications, and others getting press and funding in the space. Brian has been named a Google Small Business Advisor for 2016-present and joined the SXSW Advisory Board in 2019-present.
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