Bloomberg: EU considers Russian gold ban in next sanctions package.

by The Kyiv Independent news desk July 1, 2022 4:12 PM 1 min read

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The European Union may target Russian gold in a new sanctions package, Bloomberg reported, citing anonymous sources familiar with the matter. U.S. President Joe Biden earlier announced that the G7 countries would ban imports of Russian gold, which is "a major export that rakes in tens of billions of dollars for Russia." Gold is a crucial asset for Russia's central bank, which has restricted access to some of its assets abroad because of the Western sanctions.

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