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Putin final lifeline ruined as £100bn 'fortress Russia' about to CRUMBLE – gold stash hit

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Putin threatening ‘high-risk cyber attacks’ says expert

G7 leaders met at NATO headquarters in Brussels on Thursday to tighten economic sanctions against Putin’s regime in retaliation to Russia’s invasion of Ukraine four weeks ago. The group of seven leaders and the EU announced they were clamping down on Russia’s ability to sell its gold reserves – a “last resort” experts say could provide a lifeline for Moscow and allow Putin to bypass financial sanctions imposed by the West.

Speaking ahead of the G7 meeting, Prime Minister Johnson said the UK and West must “tighten the economic vice” around Putin, including ensuring the Russian leader cannot sell his gold elsewhere.

US President Joe Biden has also emphasised that Russian gold is off-limits to the West, backing sanctions that restrict Putin’s ability to use his gold supplies to support the war in Ukraine, where Kremlin forces have been accused of targeting civilians and committing war crimes.

The White House said in a statement: “G7 leaders and the EU will continue to work jointly to blunt Russia’s ability to deploy its international reserves to prop up Russia’s economy and fund Putin’s war, including by making clear that any transaction involving gold related to the Central Bank of the Russian Federation is covered by existing sanctions.”

Russia has roughly $132billion (£100billion) in gold reserves, which Putin has reportedly been stockpiling since 2014 in anticipation of Western sanctions over Russia’s aggression towards Ukraine.

Existing sanctions imposed by the West already prevent Russia from trading its gold with Western countries, particularly sanctions on Russia’s Central Bank.

The restrictions against Moscow cover any transactions involving Russia’s Central Bank, Ministry of Finance and National Wealth Fund, including those dealing with Russian gold.

However, experts warn that Russia could still sell billions of dollars worth of the precious metal elsewhere, providing a flow of cash that could be used to support the floundering economy.

Putin gold

Putin has reportedly been stockpiling gold in anticipation of Western sanctions over Ukraine. (Image: GETTY)

G7 leaders

G7 leaders met on Thursday to discuss tightening restrictions on Russia. (Image: GETTY)

Edoardo Saravelle, a sanctions expert at Columbia University in New York, explained the Russian leader had been stockpiling gold since the US applied sanctions on the country in 2014 following the annexation of Crimea.

He said Putin has long planned to use gold to try to prop up the economy as it becomes increasingly isolated from global financial systems, creating a so-called “fortress Russia”.

He told Express.co.uk: “Putin had spent the time between 2014 and the invasion preparing himself to withstand Western sanctions.

“And one of the things he did was limit exposure to the dollar and accumulate foreign exchange reserves to be ready, and gold was part of it.

“Russia was a huge buyer of gold for many years, but it wasn’t just about accumulating gold, but also locating the gold in Russia.

“All these things were meant to prepare Russia for some kind of sanctions.”

However, Western sanctions have already scuppered his plans to some extent, particularly sanctions on the central bank.

Mr Saravelle said: “The way the United States, the UK and the EU have imposed sanctions, including limiting transactions with the central bank, has basically made it so that many of these preparations turned out not to be as helpful in cushioning the blow for Russia as they might have expected.”

READ MORE: Putin double-threat to West as he ‘doesn’t care about anything’

Kharkiv

Vladimir Putin has been accused of committing war crimes in Ukraine. (Image: GETTY)

But existing sanctions do not cover all of Russia’s gold reserves, for example, gold that resides in a non-sanctioned Russian bank or has been transferred to a non-sanctioned individual.

These gold reserves could still be used by Russian government officials and oligarchs to launder money or for foreign exchange in unregulated markets, where countries can buy Russian gold for cash.

Mr Saravelle explained that, while sanctions have ensured that US, EU and UK entities will not make any dealings involving Russian gold, that still leaves the “rest of the world” as potential buyers.

He said: “While the US, EU and UK isn’t a market, that leaves potentially the rest of the world as buyers, so there is potentially a broad market.”

He added: “Right now, what the sanctions do is ensure that a huge chunk of the global potential ecosystem of buyers is not allowed to buy the gold because they can’t deal with a central bank.

“And so that kind of crimps the demand for gold. So it’s not frozen, but it just has fewer potential buyers. But places like India and China could buy the gold, and so that’s how it preserves some potential.”

However, he noted that many countries will likely stay away from Russian gold as Western countries clamp down on the commodity, even if they didn’t necessarily circumvent sanctions.

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Ukraine war Mariupol

Destruction in the Ukrainian city of Mariupol, which has been under heavy bombardment for weeks. (Image: GETTY)

He explained: “I’m sure some are probably likely to stay away from it because they don’t want to risk running afoul of Western sanctions.

“There’s also a reputational concern of helping give Russia a lifeline – a lot of companies have refrained from dealing with Russia even though they are technically allowed just because they don’t want to seem to be appeasing or helping the Russian invasion.”

New legislation making its way through the US Congress is looking to impose an even tighter lockdown on Russia’s gold reserves as G7 leaders consider how they can make sure Putin cannot use the precious metal to fund his war.

The bipartisan bill would apply secondary sanctions to any American entities that knowingly transact with or transport gold from Russia’s central bank holdings. They would also face sanctions if they sold gold physically or electronically in Russia.

Senator Angus King, one of the US politicians who introduced the bill, said in a statement: “Russia’s massive gold supply is one of the few remaining assets that Putin can use to keep his country’s economy from falling even further.

“By sanctioning these reserves, we can further isolate Russia from the world’s economy and increase the difficulty of Putin’s increasingly-costly military campaign.”

Mr Saravelle explained that the bill would prohibit US entities from dealing with foreigners who transacted in gold with Russia, forcing countries to choose between doing business with the US or buying Russian gold.

Joe Biden

Joe Biden has backed measures to cut off Russia’s access to its gold reserves. (Image: GETTY)

He added: “This will be a very aggressive and targeted way of stopping a potential lifeline for the Russian government.”

However, even with the new restrictions brought in by the West, Putin could still sell his gold in “illicit” markets, following in the footsteps of Venezuelan President Maduro who shipped gold to unregulated markets around the world to sell, with the support of the Russian government. 

Maduro’s sales of the gold have provided a lifeline for the stuttering economy, although Mr Saravelle noted that selling gold on illegal markets would not be enough to support Russia’s much larger economy.

“There’s definitely potential interest from these extra legal gold buyers, but it’s really a last resort way of raising funds. And once you’re doing that, you aren’t getting the full price of the gold and it’s logistically complex.

“It’s helpful as a last resort means of obtaining currency but it’s not something you can do day in and day out to manage an economy.”

Mr Saravelle added that the latest announcement from G7 leaders sent a clear message to any country considering trading Russian gold.

He said: “This is definitely a step forward in limiting Russia’s use of its gold. For sanctions to work it’s not just about the specific rules on the books, but also about enforcement and communicating that the United States will go after violations.

“Clarifying that these transactions would be violations puts potential customers on notice and will likely chill Russia’s efforts to use its gold.”



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Ultimate Guide to Hiring A Business Security Company

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Business Security Company

If you own a business, you know that it can be a challenging and draining job. The added responsibilities of being a business owner can sometimes feel like a full-time job in and of themselves. To make sure that you are well-equipped to run your business, you need to hire the right employees and stay on top of frequent tasks and appointments. One of the most important tasks for any business owner is keeping their business safe from potential threats and dangers. This means that you need to have a solid plan in place for hiring security and risk management. Once you understand the different options available, it’s time to learn about the pros and cons of each so that you can make the right decision for your business. Here’s everything you need to know about hiring a business security company.

Hiring A Security Company Hiring a business security company is one of the most important steps that you can take as a business owner. With so many companies trying to take advantage of vulnerable business owners, it’s important to know who you can trust. That’s why choosing the right security company is essential. You want to make sure that the people you hire to keep you safe are trustworthy and competent, which is why doing your research is so important. There are many things to consider when hiring a security company, including price, experience, and licensing.

Why Hire Security Services?

There are many reasons why you should choose to hire a security company, including the following: Hiring a security company can help to reduce your risk of a cyberattack. Hackers and cybercriminals target businesses all the time, which means that you need to have a plan in place for protecting your data and network. That means installing antivirus software, updating your operating system, and using strong passwords. You also need to train employees to protect themselves online. Hiring a security company can help to reduce your risk of a data breach. Every business’s data is important, and it is important to protect it. This can be challenging when you are just one person. That’s why hiring a security company can help to reduce your risk of a data breach.

The Different Types of Business Security

There are many different types of security that you can choose from when hiring security services. These include the following:

Access Control – Access control measures determine who can access your property and what they can do there. These can include lease conditions, hours of operation, and restrictions on the number of visitors. If a potential intruder attempts to enter your property without authorization, access control can help to stop them.

Burglary – Burglary is the act of breaking into a building or property with the intent to steal. This can include your building, shop, or home.

Security Systems – security systems can include a wide range of products, including surveillance cameras, sensors, and intercom systems. These systems can connect to a home network and allow you to monitor your property from a smartphone app.

Alarm Monitoring – Alarm monitoring services help to ensure that you are notified if a security breach occurs. This can include things like an attempted break-in or the activation of an alarm. Police Protection – Many cities and counties provide security officers as part of a contract with local businesses. These officers are there to help to maintain order and ensure that your property is secure.

The Benefits of Hiring Security Professionals

Here are some of the benefits of hiring security professionals that you may not have considered before:

Better Risk Management – When you hire security professionals, you get better risk management. This is because they are specially trained to assess the risks and help to mitigate them. They can do this by installing security devices and improving access control. Better Operational Security – This benefit centers around the idea of better operational security. When you hire a security company, you get better security from top to bottom. This can help to reduce your risk of a data breach and also help to protect your business from cyberattacks. Better Protection – Hiring security professionals can help to protect your property and assets. This can include things like surveillance cameras, alarms, and access control.

On the other hand, hiring a security company can have its benefits as well. These include the following:

Better Track Record – When you hire a security company, you get a better track record. They have deeper pockets and are therefore more likely to have better equipment. This means that you are more likely to have better protection, better risk management, and better operational security.

Researched – Before you hire a single contractor, you can research them using a variety of resources. This includes newspaper articles, online databases, and business databases.

Look Into Risk Management

Risk management is a crucial part of any security plan. This is because you need to understand and accept your level of risk. If you do not understand your level of risk, it is very likely that you will under protect your business. This can lead to poor decision-making and an increased risk of damage or loss. When it comes to risk management, it is advised to take the following steps: Determine your level of risk. This can involve looking at the threats that affect your business and your level of preparedness to deal with them. Then, determine the best course of action to reduce that risk. For example, if you think that there is a high risk of a cyberattack, then you

should consider installing antivirus software on all computers and keeping antivirus software updated.

Conclusion

Business security can be tricky, but it doesn’t have to be if you know where to look. This article has provided you with everything you need to know about hiring a security company. Whether you are looking for protection or looking for ways to reduce your risk, this guide has got you covered.

 

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Ryan Garcia and Who is Ryan Garcia Net Worth

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Ryan Garcia

Ryan Garcia Net Worth: $10 million

Ryan Garcia is an American expert fighter who competes in the lightweight and super featherweight categories. Garcia also won the interim WBC lightweight title and held the title from January 2021 to May 2021.

Garcia started boxing at age seven. He is a 15-time public rookie champion and has a rookie record of 215-15.

On June 9, 2016, Garcia became a skilled wrestler at age 17. He fought in his first expert session against Edgar Meza in Tijuana and dominated the game by technical knockout. Then at that time, he before long supported Golden Boy Promotions in November 2016.

Have you ever considered what Ryan Garcia’s net worth is? In fact, the American fighter is probably the best lightweight in the division and has become one of the best-known fighters on the planet. Therefore, Ryan Garcia, as of 2021, has a net worth of $ 10 million. This post will walk you through how he progressed.

Ryan Garcia Early life

Garcia was brought into the world on August 8, 1998, in Victorville, California, to Henry and Lisa Garcia. He has three sisters: Demi, Sasha, and Kayla, as well as a younger brother, Sean.

Boxing was always a part of Garica’s life growing up, his father was a boxing coach, and his uncle Sergio was an expert fighter. At age seven, Garcia would begin his boxing adventure. This would be the start of something exceptionally amazing, and he would immediately become the best fighter in the family.

From 2008-2016 García would rule the rookie positions, achieving 215 successes and 15 misfortunes. He also won three featherweight titles and was named the 2017 Prospect of the Year by Espn.

Ryan Garcia Profession

Garcia was prepared to justify himself on an expert level, and, at 17, he would make his brilliant boxing debut against Edgar Meza. He would win the session by TKO, and his great performance earned him a deal with the prestigious Golden Boy Promotions firm.

The signing would push him up the ranks, and he would quickly challenge Romero Duno for the WBC silver lightweight title. Garcia destroyed Duno and eliminated him in the first round, winning his first expert title.

Ryan Garcia Net Worth 2021

As of 2021, Ryan Garcia has a net worth of $10 million. He marked a five-year tenure as Golden Boy Entertainment and got around six figures for every battle. He has become an online media star, allowing him to benefit from posts on Instagram and Tik Tok. Garcia is only 23 years old, and as of now, he is probably the biggest name in boxing. In the long run, his dominance will continue to develop, along with his wealth.

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The difficulty shows a genuine person: Garcia was overwhelming his battles overall, effectively winning by knockout in the early adjustments. He was knocked down early when he fought Campbell, but he didn’t give up and ended up as the winner. Showing the core of a genuine hero, you have no idea what you are really fit for until you run into difficulties. So when faced with a test, accept this because it shows who you really are.

Brand Your Own Brand: Garcia is a fighter above all else, yet his prosperity as a web-based media persona has made him an easily recognizable name. In the event that he is starting a business or selling an item, promotion is essential. Use web-based media to get the full potential benefit from him and take his image to the next level.

Ryan Garcia Salary

As indicated by richypersons.com, Garcia is counted as having a net worth of $ 12 million out of every 2021. The vast majority of his net worth are derived from his rewards and support.

Furthermore, there is no verified data on his compensation.

Ryan García Personal life

Brought into the world in Victorville, California, United States, Garcia is the son of Henry Garcia and Lisa Garcia.

Garcia has three sisters named Demi, Sasha, and Kayla. Also, he has a brother named Sean Garcia, who is also a wrestler.

Garcia is dating Drea Celina Garcia right now. As sources indicate, Drea is a web-based media force to be reckoned with and a master of wellness from Mexico. Garcia was previously dating Catherine Gamez.

The 22-year-old wrestler also has two girls named Rylie Garcia and Bela Garcia. Rylie is the girl of his ex, Catherine, and Bela is the girl of his current girlfriend, Drea.

Endorsements from Ryan Garcia

There is no meaningful data accessible regarding Garcia’s endorsements and sponsorships. In any case, it is to be expected that he will enter into some underwriting agreements from different organizations and from his promotional company, Golden Boy Promotions.

Read More: Tory lanez and What is Tory Lanez Net Worth

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As more marijuana dispensaries get targeted by robbers, SAFE Banking Act lingers in Congress

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Weed dispensaries targeted by robbers: Will SAFE Banking Act help?

A bill that could allow electronic transactions at weed dispensaries nationwide is again make its way through Congress but the SAFE Banking Act might not be the cure-all that supporters envision.

In over a decade of operating cannabis shops in Washington, Shea Hynes never once worried about his stores getting robbed at gun point – until recently: In a span of three weeks, his stores were robbed three different times at gun point.

Reports of armed robberies at cannabis dispensaries like Hynes’ have nearly doubled in the first quarter of this year compared with all of last year, according to data maintained by the Craft Cannabis Coalition. The group, which represents more than 50 stores in Washington, has recorded more than 65 armed robberies so far this year, compared with 35 in 2021 and 29 in 2020. 

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