The US and European governments froze the US dollar and euro reserves of Russia—the accumulated savings of the nation—worth around $300 billion.
Popular cryptocurrency exchange Coinbase blocked over 25,000 accounts linked to Russia.
Visa, MasterCard, and American Express have cut off Russia from their networks.
After US credit card companies blacklisted anything to do with Russia from their systems, Russian banks seamlessly switched much of their payment processing to China UnionPay.
As part of their strategy to insulate themselves from US sanctions, Russia has accumulated over 2,300 tonnes—or nearly 74 million troy ounces—of gold, one of the largest stashes in the world.newstarget Here’s why US threats against Russian gold reserves mean a monetary reset is imminent