US President Biden says G7 will announce ban on import of Russian gold amid Ukraine war

US President Joe Biden, who landed in Germany’s Munich on Sunday to participate in a Group of Seven (G7) meet, said that he, along with his G7 allies, will anunce a ban on import of Russian gold. In a tweet, American leer asserted that ban would deny Moscow "tens of billions" of dollars that it rakes by selling metal. According to statistics, Russian Federation is sixth-largest exporter of gold in world, accounting for 4.4% of global supply. 

Biden also reasserted that United States has imposed unprecedented costs on Putin to "deny him revenue he needs to fund his war against Ukraine". Leers from seven of world’s largest ecomies are meeting in Germany’s Bavarian Alps on June 26-28 where y will discuss globe’s most pressing issues. However, prime focus remains on Russia's invasion of Ukraine and its repercussions on global ecomy. 

US gl about India's participation in Summit 

US is 'gl' that India is taking part in G7 summit as deliberations with New Delhi will include climate change, energy, and food security, said US Defence Department spokesperson John Kirby, during a press briefing on nda of much-awaited global forum of world's richest ecomies. He clarified that India's invitation to Group of Seven (G7) stemmed from "deep and diverse" relations and t to wean m away from Russian oil amid ongoing war in Ukraine. Sullivan furr stated that G7 leers hope to unify around a set of common principles and initiatives with India and t coax m away from "or association or partnership." 

"We are gl India is coming re is a lot to discuss on nda with India," Kirby said.

Group of Seven (G7) includes United States, Cana, France, Germany, Italy, Japan and United Kingdom, hes of which hold an annual summit with European Union and or invitees. This year, list of n-member invitees includes India, Indonesia, South Africa, Argentina and Senegal. PM Modi, on Sunday, arrived in German city to attend meeting.

(Im: AP)