G7 to announce ban on import of new Russian gold on Tuesday, US official says
Global Economy
26 June, 2022, 01:25 pm
Last modified: 26 June, 2022, 05:51 pm
An employee takes granules of 99.99 percent pure gold at the Krastsvetmet non-ferrous metals plant, one of the world's largest producers in the precious metals industry, in the Siberian city of Krasnoyarsk, Russia November 22, 2018. REUTERS/Ilya Naymushin
The Group of Seven rich democracies will announce a ban on imports of Russian gold on Tuesday, as part of ongoing efforts to hold Russia accountable for its war in Ukraine and block attempts to evade Western sanctions, a senior US administration official said on Sunday.
Britain and the United States would announce the move on Sunday, followed by an official announcement on Tuesday, the official said.
"The president and other G7 leaders will continue to work to hold (Russian President Vladimir) Putin accountable. Today the US and the UK are announcing that G7 leaders will ban imports of Russian gold. The official announcement will come on Tuesday," the official said.
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