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Elmau (Germany):
The United States and its allies have imposed various sanctions against Russia over its invasion of Ukraine. In order to further isolate the country economically, they have decided to ban the import of gold from that country.
US President Joe Biden has said that the G7 member states, including the United States, will announce a ban on gold imports from Russia. The announcement is expected during the G7 summit on Tuesday.
The G7 summit begins today in Germany. Today is the first day of discussions on strategies to protect energy supplies and combat inflation.
It is noteworthy that just hours before the start of the conference, Russia launched missile strikes on the Ukrainian capital.