London, Washington, Ottawa and Tokyo ban Russian gold imports

By 2021, Moscow will have exported nearly 15 billion euros worth of yellow metal. Boris Johnson says the ban should allow the “Putin regime’s funds to dry up”.

On Sunday, the first day of the Downing Street G7 summit, the UK, US, Canada and Japan announced on Sunday that they would ban the import of Russian gold under new sanctions imposed in response to the invasion of Ukraine. “These actions will directly attack Russian oligarchy and attack the heart of Putin’s war machine.British Prime Minister Boris Johnson will meet with leaders of major industrial powers in Germany for three days.

Together, the G7 will announce that it will ban Russia’s gold, Russia’s main export source, which will cost Russia billions of dollars.“For his part, US President Joe Biden tweeted.

In this futile and barbaric war Putin is wasting his depleting resources. He raises his ego at the expense of the Ukrainian and Russian people“, He was quoted as saying in a statement.”We need to stop funding from the Putin regime. This is what we do with our partners.

15 billion euros in 2021

According to Downing Street, Russia is a major gold producer, with exports expected to reach 15 15 billion by 2021. That would be to ban gold from the London markets, an important financial center for the commodity tradeFundraising had a major impact on Putin’s ability“The British government insisted that this would particularly affect the Russian elite who could buy gold.In an effort to avoid Western barriers“, He added.

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However, these measures are about gold mined in Russia and not gold purchased before the ban. The UK has imposed tough Western sanctions on Russia since it began its invasion of Ukraine four months ago, representing the finance ministry, oil, dozens of oligarchy, a total of more than 100 companies and 1,000 people. The G7 leaders (France, the United States, the United Kingdom, Germany, Italy, Canada and Japan) will meet at a three-day summit in southern Germany from Sunday, following a NATO summit in Madrid.

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