Recommended Watch: Sanctions on Russia will backfire on the U.S., expose failings of dollar, food rationing ahead (
Sanctions against Russia are a tool of warfare and will backfire against the U.S. and its allies, leading to food shortages and potential food rationing in the short term, and damaging the U.S. dollar’s dominance in the long term, according to Michael Wilkerson, founder of

“Russia has worked, for the last almost decade, to sanction-proof its economy…sanctions rarely work because the impact tends to be born by the sanction-imposing country,” Wilkerson told Michelle Makori, Editor-in-Chief and Lead Anchor of Kitco News.

Follow Michelle Makori on Twitter: @MichelleMakori (
Follow Kitco News on Twitter: @KitcoNewsNOW (

0:00 - Gold sanctions
6:05 - Oil price cap
10:30 - Oil and gas production
22:00 - Sanctions will backfire
30:10 - Outcome of Russia-Ukraine war
34:00 - Death of the global monetary system
38:00 - Impact of Russian sanctions on U.S.
45:45 - Investment implications
49:30 - Sanctions that have failed
55:00 - New book

#oil #sanctions #russiaukrainewar
Kitco News is the world’s #1 source of metals market information. Our videos feature interviews with prominent industry figures to bring you market-affecting insights, with the goal of helping people make informed investment decisions.

Subscribe to our channel to stay up to date on the latest insights moving the metals markets.

For more breaking news, visit

Follow us on social media:
Facebook -
Twitter -
StockTwits -

Live gold price and charts:
Live silver price and charts:

Don’t forget to sign up for Kitco News’ Weekly Roundup – comes out every Friday to recap the hottest stories & videos of the week:

Join the conversation @ The Kitco Forums and be part of the premier online community for precious metals investors:

Disclaimer: Videos are not trading advice and the views expressed may not reflect those of Kitco Metals Inc.
    • 1
    Francisco Gimeno - BC Analyst Sanctions are a tool of pressure and conflict. Sometimes it works sometimes do not. Most of the times, those who should be affected, such as leaders, oligarchs or dictators don't even care, and is the normal people who is affected. And economic sanctions have two sides, of course in a global entangled economy. Sanctions against Russia occur in a delicate moment when already global economy is in the brink of a recession, and we need more than ever commodities which are provided by Russia or the Ukraine. Long term these sanctions will damage Russia, but meanwhile the first damage is to the nations with more economic and market ties, which is precisely Europe and even the USA. Let's remember that many Asian, African and Southamerica countries continue to work in a way or another out from these sanctions and continue trading with Russia. Sanctions have always huge consequences. Of course, Russia is guilty and democracies have to work with the systems and tools created to punish "bad behaviour". So we will see (and maybe suffer it too).