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Biden: G-7 to ban Russian gold in response to Ukraine war

Summary by Ground News

President Biden said Sunday that the United States and other Group of Seven economies will ban gold imports from Russia. The ban is due to come into force shortly and will apply to newly mined or refined gold. It will not affect Russian-origin gold that has been previously exported from Russia. The move is an effort to hit Moscow's ability to fund the war in Ukraine. Gold exports were worth £12.6bn ($15.4bn) to Russia in 2021. It comes as the G7 group of the world's richest nations meet in Germany.

226 Articles

226 Articles

Biden urges Western unity on Ukraine amid war fatigue

President Joe Biden is praising the global alliance confronting Russia over its war in Ukraine. Biden says the coalition of countries must 'stay together.' He says Russian President Vladimir Putin had thought he could play the countries off of one another and break down their resolve.

3 years ago·Salt Lake City, United States

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Biden urges Western unity on Ukraine amid war fatigue

The Group of Seven leaders were set to announce new bans on imports of Russian gold, the latest in a series of sanctions against Moscow.

3 years ago·Washington, United States

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Biden: G-7 to ban Russian gold in response to Ukraine war

"We need to starve the Putin regime of its funding," British Prime Minister Boris Johnson said.

3 years ago·Austin, United States

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Gold rises as G7 nations plan to ban bullion imports from Russia

Spot gold rose 0.5% to $1,835.58 per ounce by 0231 GMT. U.S. gold futures were up 0.3% at $1,836.30.

3 years ago·India

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Biden: G-7 to ban Russian gold in response to Ukraine war

"We need to starve the Putin regime of its funding," British Prime Minister Boris Johnson said.

3 years ago

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Biden: G-7 to ban Russian gold in response to Ukraine war

"We need to starve the Putin regime of its funding," British Prime Minister Boris Johnson said.

3 years ago·Greensboro, United States

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