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,A business centre building damaged by recent Russian shelling in Kharkiv, Ukraine. The G7 is set to ban Russian gold imports with the aim of tightening sanctions screws on Moscow and crippling its war effort in Ukraine. – EPA pic, June 26, 2022.

THE United States said today that the G7 group of nations will ban imports of Russian gold with the aim of tightening sanctions screws on Moscow and crippling its war effort in Ukraine.

“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,” President Joe Biden said on Twitter.

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