Biden: G7 countries restricts import of Russian gold| MENAFN.COM

Friday, 12 August 2022 09:03 GMT

Biden: G7 countries restricts import of Russian gold


(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.

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