A+ A-

Biden: G7 will ban Russian gold imports

WASHINGTON, June 26 (KUNA) -- US President Joe Biden said on Sunday that the G7 nations would announce a ban on the import of Russian gold.
Biden, who is at the G7 Summit in Schloss Elmau, Germany, tweeted "The United States has imposed unprecedented costs on Putin to deny him the revenue he needs to fund his war against Ukraine." "Together, the G7 will announce that we will ban the import of Russian gold, a major export that rakes in tens of billions of dollars for Russia," he added.
For his part, US Secretary of State Antony Blinken told CNN network in this regard "this is the second most lucrative export that Russia has after energy. It's about USD 19 billion a year. And most of that is within the G7 countries." "So cutting that off, denying access to about USD 19 billion of revenues a year, that's significant," he stressed.
He continued, "Everything that we have done from the start in imposing these unprecedented sanctions and the export controls, is having a profound impact on Russia." "In Ukraine itself, here at this meeting of the G7, as well as at NATO, we will continue to do collectively everything we can to make sure that the Ukrainians have what they need in their hands to repel the Russian aggression," he affirmed. (end) si.mb