G7 to Announce Ban on Import of Russia’s Gold

US President Joe Biden has tweeted that the Group of Seven (G7) will jointly announce a ban on the import of Russia’s gold. Previously, Western media such as Reuters have been circulating that Biden and other leaders of the G7 have reached the latest consensus decision to ban gold import from Russia, further expanding sanctions against Russia.

Biden said in a tweet, the US has made Putin pay an unprecedented price by preventing him from getting the money he needs for war against Ukraine, and the G-7 will jointly announce to ban import of Russia’s gold. The export of gold generates tens of billions of dollars in revenue for Russia.

The news that the G7 will jointly announce a ban on the import of Russia’s gold once again verifies the accuracy of Mr. Miles Guo’s intelligence. Mr. Miles said earlier that Russia’s gold export must be severely sanctioned by the US, Britain and other countries, and that the CCP’s Russian father will be completely defeated. Ever since the West imposed sanction against Russia due to the Russia-Ukraine war, the freight between Russia and London has almost collapsed to zero. In March, the London Bullion Market Association, which sets price standards for the gold market, removed Russia’s gold refiners from its list of approved refiners. Adrian Ash, head of research at brokerage firm BullionVault, said, “This just formalizes what the gold industry has already done.”

Sanctions by Western countries to punish Russia have largely closed European and US markets to the world’s second-largest gold miner. The G7 group’s commitment will mark a complete break of the world’s two largest trading centers, London and New York, from the Russia’s gold market.