The G7 nations would impose a ban on gold imports from Russia, according to Joe Biden.
The United States has imposed unprecedented costs on Putin to deny him the revenue he needs to fund his war against Ukranian.
Russian gold is a major export that rakes in tens of billions of dollars for Russia and will be banned by the G7 together.
—President Biden (@POTUS) June 26, 2022
The Chancellor said the ban would affect trade worth billions of dollars.
In order to avoid the financial impact of western sanctions, the Russian elite rushed to buy gold bullion in recent months, according to the UK government.
The UK Prime Minister Boris Johnson said that the new measures would hit the Russian people.
The pointless and barbaric war is costing Putin a lot of money. He bankrolls his ego at the expense of the Russians and Ukrainians.
The latest attack on Russian assets is part of a plan to undermine the country. European countries have pledged to wean themselves off their Russian supply chains after the US banned Russian imports.
Several individual sanctions and a ban from the international payments system have hurt Putin's inner circle.
According to an official, the ban on gold from the G7 will be announced on Tuesday.
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