The United States and Great Britain will ban gold imports from Russia.


The United States and other Group of 7 countries will ban gold imports from Russia, seeking to undermine a key source of revenue for Moscow as it wages war in Ukraine, President Biden said on Sunday. as G7 leaders met in the Bavarian Alps.

“Together, the G7 will announce that we will ban the import of Russian gold, a major export that brings tens of billions of dollars to Russia,” Biden wrote on Twitter.

A senior administration official told reporters the move would be officially announced on Tuesday and would help further isolate Russia from the international financial system. It is the latest in a series of economic sanctions imposed by Ukraine’s allies, including a crackdown on oil exports, Russia’s main source of export revenue.

G7 leaders meeting in the Alps are looking for new ways to stifle the flow of money to Russia. They are ready to discuss those efforts, including possible attempts to toughen oil sanctions, in their first round of meetings on Sunday.

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