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In Russia, the demand for premium jewelry, which can be considered for investment purposes, has jumped sharply. Eduard Utkin, Director General of the Russian Jewelers Guild Association, stated this in an interview with RIA Novosti.
According to him, already at the end of February, there were queues in branded stores and boutiques for jewelry worth hundreds of thousands of rubles.
As Utkin pointed out, jewelry belongs to luxury items, the import of which, due to Western sanctions, “will be impossible either from Europe or from America.”
Earlier it became known that the Russians began to actively buy shoes amid reports of a number of foreign manufacturing companies leaving the country amid sanctions imposed against Russia because of its military operation in Ukraine.
Recall that on February 21, 2022, Russian President Vladimir Putin signed decrees recognizing the independence of the self-proclaimed Donetsk and Luhansk People’s Republics (DPR and LPR), and on February 24 he made an emergency appeal to the Russians and announced a special military operation in Donbass. In his speech, he stated that “circumstances require decisive action from Russia” and stressed that “Russia will not allow Ukraine to have nuclear weapons.”
In response to Russia’s actions, Western countries (USA, Canada, European Union, Great Britain, Japan) announced new, tougher sanctions against the Russian Federation, including financial and economic ones.
Thus, in particular, Russian banks fell under the sanctions, including Sberbank, VTB, Novikombank, FC Otkritie and Sovcombank, and for a number of state-owned companies it was difficult to attract foreign capital.
Later, the EU countries and the United States agreed to disconnect Russian banks that fell under sanctions from the international system of interbank transactions and information exchange SWIFT. In addition, it was decided to freeze the assets of the Bank of Russia, which will create difficulties for its use of international reserves. EU countries also pledged to take steps to limit the sale of citizenship — the so-called “golden passports” that allow wealthy Russians connected to the Russian government to become citizens of EU states and access their financial systems. In addition, the European Union, the United States, Canada and a number of other countries have closed the sky for Russian aircraft.
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Source: Rosbalt
Tristin is an accomplished author and journalist, known for his in-depth and engaging writing on sports. He currently works as a writer at 247 News Agency, where he has established himself as a respected voice in the sports industry.
