Russian Finance Minister: If Additional E.U. - U.S. Sanctions Means Seizing Foreign Exchange Reserves, It Would Be A Declaration Of Financial War

Russian Finance Minister Anton Siluanov, RIA Novosti

RT: Seizure of Russian forex reserves in US would mean ‘declaration of financial war’

Russia's federal budget is prepared for the possible toughening of US sanctions. However, if they include the seizure of Russia's foreign exchange reserves, it would be regarded as a "declaration of a financial war," the Russian finance ministry warns.

"If our gold and currency reserves can be arrested, even if such a thought exists, it would be financial terrorism," said Russian Finance Minister Anton Siluanov.

According to Siluanov, the budget takes into account the risk of income shortfalls. The budget is based on oil prices at $40 per barrel, which is almost a third lower than the current price.

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Update: Russia Warns Washington: Confiscating Gold Reserves Would Be "Declaration Of Financial War" (Zero Hedge)

WNU Editor: As of September, Russia had $103.9 billion invested in US debt and quite a bit in Europe .... so yes .... this would be a huge shock to the Russian finance ministry and the Russian economy if these funds are frozen.