Britain, Canada, Japan and the United States impose gold export ban on Russia as G7 summit begins

Four G7 powers will ban Russian gold exports in a new bid to stop oligarchs from buying the precious metal to avoid the impact of sanctions against Russia.

Russian President Vladimir Putin speaks with Russian Defence Minister Sergei Shoigu in Moscow. The new ban from four G7 nations aims to stop oligarchs from buying gold to avoid the impact of sanctions imposed on Russia.Four G7 powers will ban Russian gold exports in a new bid to stop oligarchs from buying the precious metal to avoid the impact of sanctions against Russia, Britain said.

Climate change, an increasingly assertive China and the rise of authoritarianism are also set to be on the agenda. The summit takes place at the castle resort of Schloss Elmau at the foot of Germany's highest mountain, the Zugspitze - the same venue as when the country last hosted the G7 annual meet-up in 2015.Then too, Russian aggression against Ukraine dominated the agenda a year after Moscow's invasion of Crimea.

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