• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia
PoliticsRussia

U.S. to join Group of 7 in ban of new Russian gold imports to hit Putin

By
Josh Wingrove
Josh Wingrove
,
Jordan Fabian
Jordan Fabian
and
Bloomberg
Bloomberg
Down Arrow Button Icon
By
Josh Wingrove
Josh Wingrove
,
Jordan Fabian
Jordan Fabian
and
Bloomberg
Bloomberg
Down Arrow Button Icon
June 25, 2022, 1:19 PM ET
A view of Krastsvetmet Precious Metals production facility in Krasnoyarsk, Russia on March 10. The Krasnoyarsk facility contributes to the country's economy as the only comprehensive facility that produces and processes gold and platinum group metals including, palladium, rhodium, iridium, ruthenium, and osmium. Krastsvetmet produces precious metals in the form of bars, granules, powders and chemical compounds, as well as jewelry and engineering products.
A view of Krastsvetmet Precious Metals production facility in Krasnoyarsk, Russia on March 10. The Krasnoyarsk facility contributes to the country's economy as the only comprehensive facility that produces and processes gold and platinum group metals including, palladium, rhodium, iridium, ruthenium, and osmium. Krastsvetmet produces precious metals in the form of bars, granules, powders and chemical compounds, as well as jewelry and engineering products.Alexander Manzyuk/Anadolu Agency via Getty Images

U.S. President Joe Biden and fellow Group of Seven leaders will agree to announce a ban on new gold imports from Russia, a person familiar with the plan says, the latest sanctions imposed after the Russian invasion of Ukraine.

The leaders will announce the joint pledge at their summit in Germany, which runs Sunday through Tuesday, the person said, speaking on condition of anonymity ahead of an announcement. The U.S. Treasury Department will issue a ban on Tuesday, prohibiting U.S. imports.

Sign up for the Fortune Features email list so you don’t miss our biggest features, exclusive interviews, and investigations.
About the Authors
By Josh Wingrove
See full bioRight Arrow Button Icon
By Jordan Fabian
See full bioRight Arrow Button Icon
By Bloomberg
See full bioRight Arrow Button Icon

Latest in Politics

EconomyFederal Reserve
Trump names Warsh, Hassett as top Fed contenders, WSJ says
By Jennifer A. Dlouhy and BloombergDecember 12, 2025
14 hours ago
PoliticsMilitary
Trump says ‘starting’ land strikes over drugs in latest warning
By Justin Sink and BloombergDecember 12, 2025
14 hours ago
EconomyFederal Reserve
The Fed just ‘Trump-proofed’ itself with a unanimous move to preempt a potential leadership shake-up
By Jason MaDecember 12, 2025
16 hours ago
Trump
PoliticsWhite House
House Democrats release new Epstein photos including Trump, Clinton, Prince Andrew
By Stephen Groves and The Associated PressDecember 12, 2025
17 hours ago
Sherrone Moore
LawMichigan
Michigan mystery revealed: Fired football coach had broken into a lover’s apartment and threatened to kill himself when their affair ended
By Ed White and The Associated PressDecember 12, 2025
17 hours ago
Donald Trump
HealthHealth Insurance
‘Tragedy in the making’: Top healthcare exec on why insurance will spike to subsidize a tax cut to millionaires and billionaires
By Nick LichtenbergDecember 12, 2025
18 hours ago

Most Popular

placeholder alt text
Economy
Tariffs are taxes and they were used to finance the federal government until the 1913 income tax. A top economist breaks it down
By Kent JonesDecember 12, 2025
1 day ago
placeholder alt text
Success
Apple cofounder Ronald Wayne sold his 10% stake for $800 in 1976—today it’d be worth up to $400 billion
By Preston ForeDecember 12, 2025
23 hours ago
placeholder alt text
Success
40% of Stanford undergrads receive disability accommodations—but it’s become a college-wide phenomenon as Gen Z try to succeed in the current climate
By Preston ForeDecember 12, 2025
22 hours ago
placeholder alt text
Economy
For the first time since Trump’s tariff rollout, import tax revenue has fallen, threatening his lofty plans to slash the $38 trillion national debt
By Sasha RogelbergDecember 12, 2025
18 hours ago
placeholder alt text
Economy
The Fed just ‘Trump-proofed’ itself with a unanimous move to preempt a potential leadership shake-up
By Jason MaDecember 12, 2025
16 hours ago
placeholder alt text
Success
At 18, doctors gave him three hours to live. He played video games from his hospital bed—and now, he’s built a $10 million-a-year video game studio
By Preston ForeDecember 10, 2025
3 days ago
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • Future 50
  • World’s Most Admired Companies
  • See All Rankings
Sections
  • Finance
  • Leadership
  • Success
  • Tech
  • Asia
  • Europe
  • Environment
  • Fortune Crypto
  • Health
  • Retail
  • Lifestyle
  • Politics
  • Newsletters
  • Magazine
  • Features
  • Commentary
  • Mpw
  • CEO Initiative
  • Conferences
  • Personal Finance
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
About Us
  • About Us
  • Editorial Calendar
  • Press Center
  • Work At Fortune
  • Diversity And Inclusion
  • Terms And Conditions
  • Site Map

© 2025 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.