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Reuters
Reuters
Politics
Matthias Williams and Thomas Escritt

Biden urges G7 to stay together as leaders target Russian gold, oil price

European Council President Charles Michel, European Commission President Ursula von der Leyen, Japanese Prime Minister Fumio Kishida, British Prime Minister Boris Johnson, U.S. President Joe Biden, German Chancellor Olaf Scholz, French President Emmanuel Macron, Canadian Prime Minister Justin Trudeau and Italian Prime Minister Mario Draghi attend a working dinner during the first day of the G7 leaders' summit at Bavaria's Schloss Elmau castle, near Garmisch-Partenkirchen, Germany, June 26, 2022. Stefan Rousseau/Pool via REUTERS

U.S. President Joe Biden told allies "we have to stay together" against Russia on Sunday as G7 leaders gathered for a summit dominated by war in Ukraine and its impact on food and energy supplies and the global economy.

At the start of the meeting in the Bavarian Alps, four of the Group of Seven rich nations moved to ban imports of Russian gold to tighten the sanctions squeeze on Moscow and cut off its means of financing the invasion of Ukraine.

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