Russia has taken advantage of lower gold prices to pack the vaults of its central bank with bullion as it prepares for the possibility of a long, drawn-out economic war with the West. The latest research from the World Gold Council reveals that the Kremlin snapped up 55 tonnes of the precious metal – far more than any other nation – in the three months to the end of September as prices began to weaken. Vladimir Putin’s government is understood to be hoarding vast quantities of gold, having tripled stocks to around 1,150 tonnes in the last decade.
Russia’s long-range bombers will conduct regular patrol missions from the Arctic Ocean to the Caribbean and the Gulf of Mexico, the military said Wednesday, a show of muscle reflecting tensions with the West over Ukraine. A statement from Defence Minister Sergei Shoigu came as NATO’s chief commander accused Moscow of sending new troops and tanks into Ukraine — a claim quickly rejected by Russia. Shoigu said the tensions with the West over Ukraine would require Russia to also beef up its forces in the Crimea, the Black Sea Peninsula that Russia annexed in March.
For those that have been watching the growing tensions between the Russia, Europe and the US, this latest salvo is disturbing to say the least. As reported by FT.com, a new Russian military doctrine is to be released next month, which will openly designate the United States as a “threat” and/or adversary, which is guaranteed to escalate the growing distrust which many see as a return to the “cold war” era.