Biden: G-7 to ban Russian gold in response to Ukraine war
Biden and his counterparts will huddle on the summit's opening day Sunday to discuss how to secure energy supplies and tackle inflation, aiming to keep the fallout from Russia's invasion of Ukraine from splintering the global coalition working to punish Moscow.
Of Russian gold exports, 90% was consigned to G-7 countries. Of these Russian exports, over 90%, or nearly $17 billion, was exported to the UK. The United States imported less than $200 million in gold from Russia in 2019, and under $1 million in 2020 and 2021. Biden attended Mass performed by a U.S. Army priest, the White House said. The president was opening the visit by meeting with the summit's host, German Chancellor Olaf Scholz, before spending the afternoon in both formal and informal settings with the leaders of Britain, Canada, France, Germany, Italy, Japan and the European Union.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Biden says the Group of Seven leading economies will ban imports of gold from RussiaPresident Joe Biden said Sunday that the United States and other Group of Seven leading economies will ban imports of gold from Russia, the latest in a series of sanctions that the club of democracies hopes will further isolate Russia economically over its invasion of Ukraine.
Read more »
Biden signs gun legislation; NY lawmakers fight concealed carry rulingThere was a major step forward in the fight against gun violence Saturday as President Joe Biden signed the first significant piece of gun legislation in decades. While the law benefits New York, state legislators are also trying to work around the Supreme Court ruling that now makes it easier for everyone in the state to carry a gun in public. CBS2's Jessica Moore reports.
Read more »
Biden urges Western unity on Ukraine amid war fatigueELMAU, Germany (AP) — President Joe Biden and western allies opened a three-day summit in the Bavarian Alps on Sunday intent on keeping economic fallout from the war in Ukraine from fracturing the global coalition working to punish Russia’s aggression.
Read more »
Biden says G-7 will ban Russian gold imports over war on UkrainePresident Joe Biden said Sunday that the Group of Seven leading economies will announce a ban on Russian imports of gold because of the war on Ukraine.
Read more »
Russian state TV mocks Biden over oil profits: 'Maybe he's really our guy'One panelist on Russian state TV touted the country's oil revenues while the American economy struggles with high inflation and gas prices.
Read more »