“Russia spent seven years building a financial ‘fortress’ that could help it withstand the impact of sanctions imposed by the West — and the keystone was $630 billion in central bank foreign exchange reserves,” Axios reports.
“Presumably, Russia didn’t expect the G7 nations to go so far as to freeze those reserves — which they did this week — a move nearly unprecedented in scope.”
The Economist: Russia’s attempt to sanction-proof its economy has been in vain.
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Taegan Goddard is the founder of Political Wire, one of the earliest and most influential political web sites. He also runs Political Job Hunt, Electoral Vote Map and the Political Dictionary.
Goddard spent more than a decade as managing director and chief operating officer of a prominent investment firm in New York City. Previously, he was a policy adviser to a U.S. Senator and Governor.
Goddard is also co-author of You Won - Now What? (Scribner, 1998), a political management book hailed by prominent journalists and politicians from both parties. In addition, Goddard's essays on politics and public policy have appeared in dozens of newspapers across the country.
Goddard earned degrees from Vassar College and Harvard University. He lives in New York with his wife and three sons.
Goddard is the owner of Goddard Media LLC.