G7 to declare restriction on new Russian gold imports on Tuesday

• The move is part of ongoing efforts to hold Russia accountable for its war in Ukraine.
• They also said to block attempts to evade Western sanctions.
• Britain and the US would announce the move on Sunday, followed by an official announcement.

G7 to declare restriction on new Russian gold imports on Tuesday. A senior US official said on Sunday that the Group of Seven wealthy democracies; will declare a ban on imports of Russian gold on Tuesday; as part of continued efforts to hold Russia responsible for its war in Ukraine; and thwart attempts to avoid Western sanctions.

An official declaration would be made on Tuesday; after the announcements from the US and the UK on Sunday.

“The president will continue to fight to hold (Russian president Vladimir) Putin accountable; along with the other G7 leaders. The G7 leaders will forbid the import of Russian gold; the US and the UK announced today.

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The war in Ukraine and its wide-ranging effects; from energy shortages to a food crisis; will cast a shadow over the three-day summit of leaders; of the Group of Seven wealthy democracies; which will be welcomed by German chancellor Olaf Scholz on Sunday.
Compared to last year, when the presidents of the UK, Canada, France, Germany, Italy, Japan, and the US; met for the first time since before the Covid-19 outbreak; and resolved to rebuild better; this year’s conference takes place; against a more sombre background.

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