President Joe Biden on Sunday announced that Group of Seven countries will ban Russian gold in response to the ongoing 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 Sunday. “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.”
A formal announcement is scheduled for Tuesday, according to the White House.
Biden and other world leaders will meet on the summit’s opening day Sunday 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….