They say that it will deprive the Kremlin of “billions of dollars” and take advantage of the G7 summit to warn that they will continue to take action against Putin and the oligarchs of his country for the war in Ukraine
Russia’s invasion of Ukraine is also the focus of attention at the G7 summit in Germany. In fact, the beginning of the meeting was marked by the news about the new missile attack that the Ukrainian capital kyiv had suffered just hours before, which was described as “barbaric” by the president of the United States, Joe Biden. In addition, the Ukrainian president, Volodimir Zelenski, participates today in the meeting electronically.
The White House had already announced in advance that it wanted to increase the pressure on Russia and that it would present a series of “concrete proposals” in this regard. Another way of referring to a new package of sanctions against the Kremlin. This same Sunday, Biden announced on Twitter: “Together, the G7 will announce that we will ban Russian gold, one of the main sources of exports, which will deprive Russia of billions of dollars.”
Pending a joint announcement at the end of this summit in Elmau, an event scheduled for Monday, the United Kingdom, Canada and Japan joined the United States in the last few hours in its intention to prohibit imports of Russian gold.
“These measures will directly hit the Russian oligarchs and hit the center of Putin’s war machine,” said British Prime Minister Boris Johnson, also present at the meeting. Russia is a major gold producer whose exports accounted for about $15.5 billion in 2021, according to London.
‘Marshall plan’ for Ukraine
“Putin wastes his resources in this useless and barbaric war. He feeds his ego at the expense of the Ukrainian and Russian people,” Johnson added. Banning Russian gold imports will have “a huge impact on Putin’s ability to raise funds,” the British government insisted in a statement.
For his part, the German Federal Chancellor and host of the G7 summit, Olaf Scholz, advanced that he will propose measures to support the invaded country in the long term and the elaboration of a ‘Marshall Plan’ for the reconstruction of Ukraine. The idea is that it could become something similar to the one applied in Germany and other European countries after World War II.
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