Biden: G7 will stop imports of Russian gold

American President, Joe Biden

US President Joe Biden said on Sunday that the United States and other G7 economies would announce a ban on gold imports from Russia, a move that leaders hope will further isolate Russia economically due to aggression. its in Ukraine.

An official announcement is expected on Tuesday as part of the annual meeting of the group of seven most industrialized countries.

President Biden and his G7 allies begin a summit on Sunday to discuss strategies for securing energy supplies and tackling inflation, in a bid to prevent the consequences of Russian aggression in Ukraine from hurting the global coalition that works to punish Moscow.

Hours before the opening of the meeting, Russia carried out rocket attacks against the Ukrainian capital, the first such attacks by Russia in three weeks.

Senior officials in President Biden's administration have said that gold is Moscow's second-largest export after energy and that a ban on imports would make it harder for Russia to enter world markets.

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