G7 Countries Seek To Put Gold Pressure On Russia

The U.K., U.S., Canada, and Japan are seeking to punish Russia further with the ban on the imports of Russian gold.

The aim is to cripple Moscow’s ability to fund the war in Ukraine.

The UK PM noted that the latest move would “strike at the heart of Putin’s war machine.”

According to reports, in 2021, gold exports to Russia amounted to over $15bn.

The latest move comes in the backdrop of the G7 meeting in Germany.

U.S. President Biden suggested the other G7 nations – Germany, France, and Italy are also set to join the ban.

“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,” Johnson said in a tweet.

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Edited by Jesus Chan

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