Topic: UAE is the biggest gold buyer of Russia during this war - page 2. (Read 480 times)

and it seems it is heading that way. it is more than enough to see that russia is not the world power it seems to be. after this war, i believe, the world will have different perspective towards russia. for sure, there will be so much lessons gained by a lot of governments from this long battle. too many lives wasted for this unnecessary war.

Maybe yes and maybe not, I don't think it can be viewed straight in assessing gold with uranium, gold becomes an important commodity for global level transactions and is a storage of wealth value, while Uranium is one of the poko minerals to make a nuclear tanaga power plant.
Valuable or not it depends on the needs and plans in the future.

I also think like that, and this is more to how the UAE government anticipates the bad things that occur in this world, from the many tensions and see from the competition to build the allies of each block to make it stronger.
This is natural and this is a stratgical choice rather than having a dollar/fiat, which can be destroyed if it is no longer accepted.

Developing countries such as the country where I live have started to store a lot of gold in recent years. The 51% dollar hegemony really shows that it has decreased, which I think will decrease even more when I interpret it according to the current balance. Many countries do not want to use stable dollars in trade. Some countries can create many alternatives among themselves. UAE is doing the logical thing, they already have enough liquidity and they exchange it with gold when there is cheap gold in the market.

It is more about economics than politics, but it is a good use of the situation. It is not that the Arab Emirates support Russia in its war, but it is benefiting from Russia's need to sell its gold.

The UAE realizes that fiat has no future because of inflation, and soon another currency will appear as an alternative to the dollar, so it is trying to build its strategic reserves of gold.

This is a sound economic policy from my point of view. It does not matter if the gold is from Russia or any other country, but the important thing is to collect the gold to form a strong strategic reserve base.

Yes. you are very sensitive and have a very high hunch in seeing the continued development of all of the above. Yes, uranium. I think it is more and more than gold and will be the most sought after. I think we too here will look in the direction you're referring to sometime. cheers.

I think the key resource, for control of which Russia is quite successfully competing with France in Central Africa, is not gold, but uranium.

Russia used to solve the problems of controlling many of its interests in African countries by force. For this, various private military companies were created, such as the Wagner PMC. But the situation, I think, will change after the defeat of Russia in the war against Ukraine. A weakened Russia will no longer be feared and it will lose its positions in the international arena.

Apart from the fact that Russia is one of the largest producers of gold, they also control a number of gold mines in the conflict zones of Africa, such as Sudan, Central African Republic and Mali. These mines were previously controlled by colonial powers such as France, but Russia took over the operations as they were able to provide much better deals. And gold is not like crude oil. You simply can't sanction gold trade. It doesn't require expensive tankers to move, and also there is a limited supply available (with more than 10% of the output controlled by Russia).

First of all, it is worth noting that if Russia sells its gold reserves in large quantities, then things are going very badly for her in the second year of the military invasion of Ukraine. Of course, there will always be buyers for such goods as gold.
But Russia should not expect sanctions to be lifted after the end of hostilities. Recently, the British Prime Minister promised to maintain sanctions against Russia until full compensation is paid to Ukraine for the damage it caused in the war.

https://www.google.com/url?sa=t&source=web&rct=j&url=https://iz.ru/tag/sanktcii&ved=2ahUKEwiinMr_iNX_AhX3hP0HHbR9Cf44ChC3AnoECAkQAQ&usg=AOvVaw2tpi2nuhwGhSbOjQkYcXan

It is common that during the period of economic uncertainty and regional conflicts, individuals and countries buy Gold as it is considered best hedge against inflation. The other reason of buying Gold is that  many countries are reducing their dependence on US dollar and diversifying their reserves with Gold and other prominent currencies including Euro and Chinese Yuan.
As far sanctions on trade with Russia are concerned, I think there are many countries involved in buying Russian oil and goods including UAE(United Arab Emirates) despite these measures, which raises question about their effectiveness and discriminatory behaviors of those responsible to implementing them.

1. Not a war between Russia and Ukraine, but an attack and terrorist war by Russia against Ukraine. Ukraine is not waging war against Russia, Ukraine is defending itself against aggression. This is a very important nuance.
2. Yes, the principle "money doesn't smell" works even now. It is only a cynical business. Well, and an opportunity to "screw" Russia, before its collapse.
The "friends of Russia" are doing everything possible to get as much as they can for personal gain, as long as it is still possible to take something from Russia for a penny.
3. the world will draw conclusions from this story. Most likely, the countries that aided/assisted the terrorist country will get their sanctions. The international sanctions enforcement system will most likely develop new mechanisms to identify and block sanctions circumvention methods.

Poor countries are mostly dependent on bigger and richer countries hence the need to stay in line with rules and regulations, to prevent sanctions that can cripple the economy further and make things worse for them and the citizens. These countries because they know that they are not self-sufficient and self-sustaining need to act according to what the bigger and richer countries that they depend on decide. The very wealthy countries can be self sustainable and easier to create alliance with other countries because of what they can offer, so they can do whatever they like and get away with it (in this case).

You hit the nail on the head right there, politicians want to makes us believe they are bunch of idealist when the truth is they are the most pragmatic bunch of people alive, basically as long as they can get benefits out of something then regardless of how morally bankrupt they become that is what they will do, so even if the invasion of Ukraine by Russia is criminal as long as the benefits are good enough there will always be countries willing to turn a blind eye to it.

It is sad that there always some people profiting a lot when millions are suffering. Before the Russia Ukraine war last year, I thought that another big war in Europe would never happen again. The main issue we have is that the world is more divided than ever and every country tries to put themselves before everybody else. As long as we think in national identities instead of the world as a whole we will always have wars. When looking at the last 12 months I see that China, India and UAE seem like the big winner of the sanctions against Russia. Western countries stopping to buy from Russia forced the price down of many commodities considerably, and other countries are happily picking up the bargain now. Again as long as there are ways to get around sanctions and for the world not to speak as one voice, there will be people trying to take advantage of others.  With that being said, poor countries shouldn't be feeling be bad when they are doing the same thing that rich countries are doing. If everybody puts their own country first then the poorer countries need to do the same, there is no point in taking the moral high ground if your people are suffering for it.

The fact is that there was no ban on the sale of gold from the country of an international terrorist today ... And some countries for which "money does not smell" expectedly took the chance to extract the maximum benefit from "tomorrow's corpse" ... Well, what to waste gold (UAE), or oil (India and China)? Anyway, soon the "camera with the international criminal will be closed", and no one will pay attention to those who simply "used the situation", everyone will be busy with the criminal and his deeds... Therefore, for some time we will all be watching the "premortal economic activity" "Russia, which is now selling all the resources for which they pay at least some money, to support the criminal regime.

I mean that's the business of it. If you're a weak country you can't really afford making those risky decisions cause barring and a lot of restrictions will be imposed upon you. Bigger countries like UAE and a couple more could afford to face the wrath of the US cause what the heck are they going to do? Nuke them? I don't think so. It's just how the way things go and I think that's actually a little smart than being fair to everyone and outright imposing restrictions on all countries who supported Russia in one way or another. That's going to seriously hurt the world economy even more and may even just set in recession if left unchecked.

Plus it disallows these countries from strengthening ties with Russia as most alliances nowadays come the in form of collaterals (I've never heard of diplomatic alliances on the news lately, so correct me if I'm wrong).

Central bank policies related to money printing during COVID is part of why inflation rose sharply in 2022 but that wasn't the only factor. Ukraine war disrupted exports from eastern Europe and energy prices began to increase which had a domino effect causing price increases in every other industry. Depending on the narrative, people tend to blame one or the other when both are to blame. But with the war, as things begin to stabilize you would expect prices to lower (thereby reversing inflation, not merely lowering the rate of inflation). With central bank money printing, the rate of inflation can only decline, the aggregate prices of consumer goods won't go down. This is because once money is printed, there isn't a feasible way to remove it from circulation. War related inflation really comes from scarcity of goods, whereas money printing related inflation artificially increases demand by issuing new dollars.

This is not surprising at all, and we are following it in the field of Russian oil derivatives, which China and India buy from it at less than half the price that Europe used to buy. Russia is involved in these agreements since it must continue financing its military campaign against Europe without ceasing to support its domestic economy.
Russia's exclusion from the SWIFT system has serious repercussions on the Russian financial economy, and it will certainly seek to find ways to avoid these repercussions, and it is certain that there will be those who will take advantage of the opportunity for Russia to get into trouble to benefit.
Personally, I did not have the information, but I am not surprised that the United Arab Emirates appeared on the list of beneficiaries.
There is a well-known concept in economics called the "war rich" developing from a pre-existing concept called "crisis merchants". These concepts apply to states just as they apply to individuals.

I agree with you that banning poor countries from buying assets on the international market is a cruel and unfair policy. This not only makes it more difficult for poor countries to develop their economies and reduce poverty, but it also limits market competition and increases financial disparities between countries. The exploitation of the resources and assets of poor countries by rich countries often has dire consequences for the environment and human rights. Therefore, there is a need for balance and cooperation between countries to ensure that the assets of poor countries are protected and used for economic development and poverty reduction, while ensuring rights and justice. to the people of those countries.

One of the problems that the "victorious 3-week terrorist war against Ukraine" revealed was the fake "bubbles" and fakes born by Russia. What, of course, they succeeded in was to drive into the heads of other countries that they are the "greatest economy", "the strongest army", "unparalleled weapons." But as reality has shown today, these are fakes. Same picture with gold. On the one hand, Russia will produce about 10% of world gold production. On the other hand .... But on the other hand, there are nuances.
In the first place - technological. Yes, yes, in Russia there is a problem with mining technologies. And not only oil and gas, but also gold. Yes, Russia does not have its own equipment and its own production technologies. Etol everything is bought in the west and for dollars. Or from China, but also for dollars (hello to fans of "de-dollarization")
On the second - the opportunity to get new equipment. The wear of such equipment is very high, because mining gold in roshisi is by no means the easiest. This leads to another problem - the cost of mined gold. This is the third problem. It's cost is quite high. And in the market, Russia has its place only because of the volume of gold And it is difficult to ensure its regular production, due to sanctions and lack of access to technology. Now we are witnessing a simple sale of everything in order to at least somehow stay afloat, in the meager hope that the world will stop helping Ukraine, and Russia will be able to take a break and recover ... In vain they amuse themselves with such fantasies