Berlin: The G-7 countries have decided to ban gold imports from Russia due to the attack on Ukraine.
According to the World News Agency, US President Joe Biden has said that the Group of Seven (G7) countries have agreed to impose more sanctions to weaken Russia by tightening the noose around Russia over the invasion of Ukraine. Û”
He said that as a new concrete measure, the export of gold from Russia is being banned. A senior US administration official, speaking on condition of anonymity, told reporters that a formal announcement would be made by the G-7 countries on Tuesday.
The proposal to ban gold imports from Russia was initially made by the United Kingdom, which has also been agreed to by Canada, Japan and the United States.
The US president has suggested that other G7 countries, including Germany, France and Italy, join Russia in imposing sanctions.
According to media reports, Russia’s gold imports in 2021 was 15.4 billion US dollars, 90% of which was imported to G7 countries.