Sun 26 June 2022:
Russian gold imports will be banned by the G7, US President Joe Biden announced on Twitter on Sunday.
The action will put “unprecedented costs on Putin to deny him the revenue he needs to fund his war against Ukraine,” Biden said. It is scheduled to be officially announced at the G7 three-day conference taking place in the Bavarian Alps.
It is a “major export that rakes in tens of billions of dollars for Russia.” according to the US president.
“The measures we have announced today will directly hit Russianoligarchs and strike at the heart of Putin’s war machine,” British Prime Minister Boris Johnson said as he arrived at the summit, according to Britain’s PA news agency.
Argentina, India, Indonesia, Senegal, South Africa, and other non-G7 countries have been invited to attend some sessions at Schloss Elmau, while Ukrainian President Volodymyr Zelensky will deliver a video link address to delegates.
Speaking in the parliament in Berlin ahead of the G7, Scholz called for a “Marshall Plan” to fund Ukraine’s post-war reconstruction, referring to the massive US investment in Germany and other Western countries after World War II. This would be discussed with Zelensky at the summit, Scholz said.
China’s role in backing Russia since its invasion of Ukraine will also be the subject of discussion.
SOURCE: INDEPENDENT PRESS AND NEWS AGENCIES
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