• 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

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • 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
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • Pinterest icon

Latest in Politics

eisenhower office
PoliticsDonald Trump
Trump wants to repaint a historic landmark. Preservationists say it will destroy it—and cost taxpayers $7.5m
By The Associated Press and Darlene SupervilleMay 8, 2026
18 minutes ago
UFOs
North AmericaPentagon
Pentagon begins releasing new files on UFOs, telling public to draw their own conclusions
By Collin Binkley, Seung Min Kim and The Associated PressMay 8, 2026
1 hour ago
trump
EconomyU.S. jobs report
U.S. economy surprises with 115,000 new jobs created in April
By Paul Wiseman and The Associated PressMay 8, 2026
1 hour ago
mamdani
Real EstateTaxes
New York is going to tax the wealthy’s second homes, but not tax wealth itself
By Anthony Izaguirre and The Associated PressMay 8, 2026
2 hours ago
Wall Street piles into ‘NACHO’ bet on looming oil shortages in June
EconomyMarkets
Wall Street piles into ‘NACHO’ bet on looming oil shortages in June
By Jim EdwardsMay 8, 2026
4 hours ago
collins
PoliticsElections
73-year-old Susan Collins has been a senator for decades. She only just disclosed a benign essential tremor
By Patrick Whittle, Kimberlee Kruesi and The Associated PressMay 7, 2026
17 hours ago

Most Popular

California farmers must destroy 420,000 peach trees after Del Monte closes its canneries and cancels more than $550 million in long-term contracts
North America
California farmers must destroy 420,000 peach trees after Del Monte closes its canneries and cancels more than $550 million in long-term contracts
By Sasha RogelbergMay 7, 2026
18 hours ago
U.S. Treasury will have to borrow $2 trillion this year just to continue functioning—more than $166 billion every month
Economy
U.S. Treasury will have to borrow $2 trillion this year just to continue functioning—more than $166 billion every month
By Eleanor PringleMay 7, 2026
1 day ago
'Blue dot fever' plagues musicians like Post Malone, Meghan Trainor, and Zayn as a growing list of artists cancel tours due to lagging ticket sales
Arts & Entertainment
'Blue dot fever' plagues musicians like Post Malone, Meghan Trainor, and Zayn as a growing list of artists cancel tours due to lagging ticket sales
By Dave Lozo and Morning BrewMay 7, 2026
20 hours ago
A Michigan farm town voted down plans for a giant OpenAI-Oracle data center. Weeks later, construction began
Magazine
A Michigan farm town voted down plans for a giant OpenAI-Oracle data center. Weeks later, construction began
By Sharon GoldmanMay 6, 2026
2 days ago
Current price of oil as of May 7, 2026
Personal Finance
Current price of oil as of May 7, 2026
By Joseph HostetlerMay 7, 2026
1 day ago
Tokyo is throwing out its strict office dress code and asking workers to wear shorts amid the war in Iran energy crisis
Success
Tokyo is throwing out its strict office dress code and asking workers to wear shorts amid the war in Iran energy crisis
By Emma BurleighMay 5, 2026
3 days ago

© 2026 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.