(MENAFN) The world's seven richest countries will restrain Russian gold imports, US Leader Joe Biden stated on Sunday, since Moscow’s conflict on Ukraine carry on.
Presidents of the world's seven richest countries will meet in Germany for discussions on extra bans on Russia and the medium- and long-term rebuilding of Ukraine.
Biden noted: "The United States has imposed unprecedented costs on (Russian President) 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 also said.
With its projected 331 tons 2 years ago, Russia was in the second place in terms of worldwide gold production making up 9 percent of the world's total, in line with SP Global statistics.
MENAFN27062022000045012476ID1104437924
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.