Biden announces ban on Russian gold imports at opening of G7 summit

The American President, Joe Bidenannounced this Sunday that the G7, whose leaders meet today in Germany, will announce the ban on the import of gold from Russia among the measures aimed at punishing the invasion of Ukraine by that country.

Biden He said on Twitter that “together with the G7 we will announce that we ban the import of russian golda major import generating tens of billions of dollars to Russia.”

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The US president added on the social network that “USA has imposed unprecedented costs against (Russian President Vladimir) Putin to take away the revenue he needs to finance his war against Ukraine.”

The purpose of the summit is to expand the sanctions already imposed by the United Kingdom, the United States, Japan and Canada, indicated British sources, according to which Prime Minister Boris Johnson will try to convince the rest of the G7 -es that is, including the partners of the European Union (EU), Germany, France and Italy – to join that step.

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Johnson considers that “a direct blow must be dealt to the Russian oligarchs”, touch “the heart of the arms industry” of President Vladimir Putin and choke their funding sources.

The delegations of the three EU partners present at Elmauthe Bavarian castle where the summit is held, are already addressing this possible extension of sanctions with regard to gold, although for the moment there are no decisions in this regard, German sources indicated.

Neither does Berlin consider that Germany should assume a leadership role, within the EU bloc, regarding the war of Ukraineas apparently proposed from the White House.

The purpose of scholz is to “seek consensus”, rather than assuming leadership, both within the G7 and in the meetings to which the leaders of the five countries invited to the summit -India, Indonesia, South Africa, Senegal and Argentina- will join tomorrow, representing the latter from all of Latin America and the Caribbean.

Source: Elcomercio

Ronald Payne

I, Ronald Payne, am a journalist and author who dedicated his life to telling the stories that need to be said. I have over 7 years of experience as a reporter and editor, covering everything from politics to business to crime.