Advisers to former US President Donald Trump, a presidential candidate, are preparing measures to counter countries’ refusal to use the dollar in trade, Bloomberg reported on April 26, citing sources.
The publication assumes that such restrictions will be applied: the introduction of export controls, various fines will be imposed, countries will be accused of currency manipulation, and tariffs will increase for certain transactions.
According to the agency, these sanctions will apply to developing countries, including BRICS member states, and will aim to reduce risks to the US currency.
Recall that Bloomberg previously reported that the seizure of Russian assets in the United States could cause countries to get rid of the dollar.
And the BRICS countries are preparing their own payment system in addition to using the dollar.
China and Russia bought large amounts of gold in 2023.
Vladimir Putin signed a law that abolished the 20% VAT on the purchase of gold bars by individuals in 2022. In April 2023 a law came into force allowing Russians to buy gold bars without VAT directly from refineries and Goznak: the latter started selling them in May. According to the Bank of Russia, as of February 1, 1 gram of gold costs 5,889.88 rubles.
There were several reasons for the abolition of VAT on gold for citizens, including the “replacement of piggy banks,” said Deputy Finance Minister Alexey Moiseev. “For a period, demand for safe deposit boxes exceeded supply. “We see a gradual replacement in stages, we don’t know what is in these cells, but we see that the demand for gold is replacing the demand for dollars to some extent.”said the Deputy Minister of Finance.
In his opinion, in 2024 the demand for gold will grow, although not at such an explosive rate.
Source: Rossa Primavera
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