EU Bans Purchase of Russian Gold

European Union (EU) has approved new sanctions in response to Russia’s attacks in Ukraine. The EU Term President Czech Republic announced in a statement that EU member states approved a new sanctions package to ban gold purchase from Russia, and said that the EU foreign ministers approved the next package of sanctions in response to Russia’s aggression against Ukraine. With the new measures, EU will get aligned with its G7 partners, strengthen implementation, and narrow gaps where necessary.

 According to the sanctions plan, the import of gold and jewelry from Russia will be banned, assets of some Russian officials and institutions will be frozen, travel bans will be issued to the ones being sanctioned, and assets of Russia’s largest bank Sberbank, which were previously excluded by SWIFT, will also be frozen. It’s reported that the new sanctions will be announced on EU Official Journal to take effect tomorrow.

 Brief Comments: The Russian-Ukrainian war is essentially a war between Communist China and the United States. Ukraine became the victim, and the Chinese Communist Party (CCP) is the main culprit. Colluding with the CCP, Russia would go towards the end.