The G7 is expected to impose a ban on gold imports from Russia.
The three-day G7 summit, hosted by Germany, began on Sunday at Elmau Castle in Bavaria.
Arriving at the meeting, the leaders of the countries assured united support for Ukraine in the face of the Russian invasion.
The Prime Minister of the United Kingdom Boris Johnson assured that “Ukraine can win – and ultimately win [sodan] “But they need our support to do it.”
The G7 includes Germany, Italy, France, the United States, Britain, Japan and Canada.
The EU is also participating in the negotiations. The EU is represented by the President of the European Council Charles Michel and the President of the European Commission Ursula von der Leyen.
Germany has also invited leaders from Argentina, India, Indonesia, Senegal and South Africa, for example, to attend various working sessions over the three days.
Russia’s war of aggression in Ukraine is the main theme of the summit, but there are still many topics to discuss, such as the looming recession, high inflation, climate change and the food crisis.
The difficulty for the G7 in the discussions on the Russian invasion and energy is to come up with concrete measures to reduce energy dependence on Russia. At the same time, countries are working to prevent energy prices from rising from current levels, which is a difficult equation.
At the end of the summit next Tuesday, G7 leaders are due to issue a joint statement on the summit’s decisions.
Imports of gold from Russia will be banned
The G7 is expected to announce a total ban on Russian gold imports at the meeting.
“Gold is a major export with Russia raising tens of billions of dollars,” Biden wrote.
British Broadcasting Corporation According to the BBC (switching to another service) The United States, Britain, Canada and Japan have already made a decision on the matter, and other countries are expected to join the import ban.
After the decision, it would also be more difficult for Russian oligarchs to circumvent the economic sanctions imposed by the West with the help of gold.
British Prime Minister Boris Johnson justified the ban on gold imports on the grounds that it was a “blow [Vladimir] Putin to the core of the war machine “.
The value of Russian gold exports is estimated to be about $ 15 billion in 2021.
Russia bombed Kiev – Ukraine demands stronger action from G7 countries
Russia reacted to the start of the G7 summit by bombing Kiev on several occasions during Sunday morning. One has been killed and five injured in the attacks.
The bombings targeted Kiev for the first time since early June. There were also explosions in the city of Cherkasy, about 150 kilometers southeast of Kiev, the governor of the region said. Oleksandr Skitsko. Cherkasy had largely been spared the effects of the war in the past.
In addition, Russian news agencies report that Russia struck Ukrainian training centers in the Chernihiv, Zhytomyr and Lviv regions during the day.
Minister of Foreign Affairs of Ukraine Dmytro Kuleba calls on the G7 to impose more sanctions on Russia over Sunday’s attacks in Kiev.
– The G7 summit must respond with new sanctions against Russia and new deliveries of heavy weapons to Ukraine. Russia’s sick imperialism must be stopped.
Also the President of Ukraine Volodymyr Zelensky is expected to speak remotely at the summit.
Arriving at the venue, U.S. President Joe Bidensan told the media that Sunday’s attacks are new examples of barbaric activity in Russia.
Following the G7 summit, the pipeline of international summits will continue immediately next Tuesday at the three-day NATO summit in Madrid.