President Joe Biden announced on June 26 that the Group of Seven countries will ban Russian gold in response to the conflict in Ukraine.
“The United States has imposed unprecedented costs on Putin to deny him the revenue he needs to fund his war against Ukraine,” Biden said. “Together, the G-7 will announce that we will ban the import of Russian gold, a major export that rakes in tens of billions of dollars for Russia.”
A formal announcement is scheduled for June 28, according to the White House.
Biden and other world leaders were meeting on the summit’s opening day to discuss how to secure energy supplies and tackle inflation, aiming to keep the fallout from Russia’s invasion of Ukraine from splintering the global coalition working to punish Moscow….
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