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Reuters
Reuters
Business

Biden, G7 leaders to agree on import ban on Russian gold - source

G7 Gold Russia Joe Biden Moscow Ukraine
People prepare for arrivals of G7 leaders at Franz-Josef-Strauss airport in Munich to attend the G7 summit, which will take place in the Bavarian alpine resort of Elmau Castle, Germany, June 25, 2022. REUTERS/Michaela Rehle

U.S. President Joe Biden and his G7 counterparts will agree on an import ban on new gold from Russia as they broaden sanctions against Moscow for its war against Ukraine, a source familiar with the matter told Reuters on Saturday.

The United States has rallied the world in imposing swift and significant economic costs on Russia to deny President Vladimir Putin the revenue he needs to fund his war.

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