The G7 countries and the European Union agreed this Thursday to restrict the transactions of gold the Central Bank of Russia To avoid Moscow use your reserves in this metal in order to avoid the sanctions adopted by the international community for the war on Ukraine.
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Cutting off the Kremlin’s ability to alleviate the impact of reprisals is one of the main objectives that the main world powers have adopted since the beginning of the war with the first sanctions packages, which managed to depreciate the Russian currency to 130 rubles per dollar, from 80 rubles per dollar before the invasion.
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One of the most effective measures was the freezing of half of the reserves of the Russian Central Bank, but the Kremlin has acted since then to try to support the ruble, which recovered some ground as the days went by and especially after Moscow announce that it will only accept payments in its currency for oil and gas sales.
The White House was the first government to report on the agreement reached in the G7, which instructs its ministers to monitor the “full application” of the sanctions adopted so far and coordinate “responses related to evasion measures”, including the “gold transactions of the Central Bank of Russia”.
More OPEC oil
In a statement, the leaders of the United States, Canada, Germany, Japan, France, Italy and the United Kingdom promise that they will seek alternatives to Russian energy and point directly to the Organization of Petroleum Exporting Countries (OPEC) as “key” actors to secure a global energy supply that leaves Moscow out.
“We will continue to work with them and with all partners to guarantee a stable and sustainable global energy supply,” the G7 emphasizes in its statement, in which it also emphasizes that “this crisis reinforces its determination to achieve the objectives” of the climate agreements of Paris and Glasgow.
The major world powers also express their “solidarity” with all the countries that “have to bear the growing price” of Russian President Vladimir Putin’s “unilateral” war, which “endangers global economic recovery”, damages international chains of supply and harms “the most fragile countries”.
The “Immediate” effect that the G7 highlights is the “pressure” that the war puts on food security and, consequently, they urge that the sanctions adopted against Russia “take into account the need to avoid a global impact on agri-food trade “.
Use of chemical, biological and nuclear weapons
The G7 powers demand that Russia not use chemical, biological and nuclear weapons in warfare and abide by international agreements.
With regard to the armed conflict, the G7 powers demand that Russia not use chemical, biological and nuclear weapons in warfare and stick to the international agreements “that it has signed” and “protect us all” from their effects.
They also warn that the Russian attack “has put the safety of Ukraine’s nuclear power plants at risk” and generates “extreme risks for the population and the environment, with a potentially catastrophic result.”
Another important front of attention for the G7 and the EU is the fight against cyber attacks in Ukraine and in its countries, for this reason they have taken measures to increase the resistance of their infrastructure in a coordinated manner and we will work to hold accountable those who carry out destructive activities, disruptive or destabilizing in cyberspace.
Support for Ukraine and pressure on Russia
The G7 leaders redoubled their support for “the government and the people” of Ukraine and their unity to restore peace and stability and uphold international law, overwhelmingly expressed in a United Nations General Assembly resolution dated 2 March, while urging Moscow to comply “without delay” with the order of the International Court of Justice to suspend military operations and withdraw its forces and equipment from the entire territory of Ukraine.
“Appalled” by the attacks on civilian targets, including hospitals and schools, the leaders support the Prosecutor of the International Criminal Court to collect evidence of “war crimes”, in the siege of Mariupol and other Ukrainian cities, and urged to immediately provide humanitarian aid and safe access routes to other parts of Ukraine.
At the same time, they expressly asked Belarus to stay out of it and warned that they will be “attentive” to whether other countries give “military and other” aid to Russia, in a clear warning to China.
“We will spare no effort,” say the G7 and EU leaders, to hold Putin and the architects and supporters of the war, including the Belarusian regime of Alexandr Lukashenko, “to account for their actions.”
Similarly, they were determined to intensify their support for the “heroic” resistance of the Ukrainian people and for neighboring countries that are receiving the largest exodus of Ukrainians. In this sense, they promised to “welcome, protect and support” the refugees.
EFE
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