The British government announced on Sunday that it, along with the United States, Japan and Canada, would ban any new imports of Russian gold, as part of measures aimed at punishing Moscow for its invasion of Ukraine.
For his part, a senior US administration official told Archyde.com on Sunday that the Group of Seven countries would announce a ban on Russian gold imports on Tuesday.
“The (US) president and other G7 leaders will continue to work to hold (Russian President Vladimir) Putin to account. Today the US and UK announce that G7 leaders will ban imports of Russian gold. The official announcement will be on Tuesday,” he added.
British Prime Minister Boris Johnson, who is meeting the leaders of the seven major industrialized countries in Germany for three days, said that “these measures will directly hit the wealthy of Russian power and target the heart of Putin’s war machine,” according to “AFP.”
The leaders of the Group of Seven countries are holding in Elmau Castle in the southern German province of Bavaria, a summit that begins on Sunday, at a time when the world is experiencing a crisis, starting with the war in Ukraine, through the climate, and ending with food security, according to “AFP”.
The ban is scheduled to enter into force soon and will apply to newly mined gold, according to “Archyde.com”.
The British government stated that this would not affect the gold of Russian origin, “which was previously exported from Russia.”