Biden, who arrived in Germany early Sunday, said G-7 nations, including the United States, will ban imports of gold from Russia.
Written by Associated Press
President Joe Biden on Sunday praised the continued unity of the global alliance confronting Russia, as he and other heads of the Group of Seven leading economies strategised on sustaining the pressure in their effort to isolate Moscow over its months-long invasion of Ukraine.
Biden and his counterparts were meeting to discuss how to secure energy supplies and tackle inflation, aiming to keep fallout from the war from splintering the global coalition working to punish Moscow. They were set to announce new bans on imports of Russian gold, the latest in a series of sanctions the club of democracies hopes will further isolate Russia economically over its invasion of Ukraine.
Leaders also were coming together in a new global infrastructure partnership meant to provide an alternative to Russian and Chinese investment in the developing world.
“We’ve got to make sure we have us all staying together,” Biden said during a pre-summit sit-down with German Chancellor Olaf Scholz, who holds the G-7’s rotating presidency and is hosting the gathering. “You know, we’re gonna continue working on economic challenges that we face but I think we get through all this.” Scholz replied that the “good message” is that “we all made it to stay united, which Putin never expected,” a reference to Russian President Vladimir Putin, who sent his military across the border into Ukraine in late February.