Hassan Al-Somal
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I am pretty sure Foreign Currency is used to back your own currency, I know for a fact that you can't use your own currency to back your own currency, because that does not guarantee your currency value.
What about natural resources such as gold, silver, tin, copper, gemstones, oil, natural gas etc? Money itself without resource backing it doesn't mean much. That is why the US dollar is based on the petroleum sales through OPEC. So in this instance, Russia is a major producer rare earth minerals, natural gas, oil, and other minerals. Internally Russia should be fine with some squeeze on the petroleum exports, but over time, it should weather those sanctions as well.