The US Treasury Department announced a new package of sanctions against Russia in connection with military aggression against Ukraine. This is stated in the message of the department.
Since June 28, a ban has been introduced on the import of gold from Russia to the United States. The restrictions apply only to those volumes of the precious metal that are currently in Russia. Previously purchased bars located outside of Russia are not subject to restrictions.
"As announced at the G7 summit, the United States has joined the action against Russian gold, the country's largest non-energy export," the Treasury said in a statement.
The agency also warned its citizens to be careful and vigilant not to violate the new restrictions. The imposition of sanctions on the import of Russian gold became known during the three-day G7 summit. The parties agreed to impose a ban on the import of the precious metal, and are also discussing the introduction of restrictions on oil and gas, we are talking about the introduction of a ceiling on energy prices.
The Russian gold mining industry suffered from possible restrictions even before they were officially introduced. Representatives of the industry have previously expressed fears that they will not be able to sell their products on foreign markets, and those volumes that they manage to sell go at a big discount. Gold miners called on the authorities to help the industry and start buying gold at market prices into the state reserve.