Last year, gold exports to Russia reached $ 15.45 billion (€ 14.2 billion). Most of these volumes are in G7 countries.
The introduction of a ban on Russia’s gold imports, which is the second largest source of revenue for the Russian Federation after energy, would cost the Kremlin 19 billion dollars a year. On Sunday, June 26, U.S. Secretary of State Anthony Blinken said in an interview with CNN.
He stressed that most sales volumes are accounted for by G7 countries. According to Blinken, cutting the Russian Federation from this source of revenue is important.
The Secretary of State noted that the unfulfilled sanctions and export controls that already exist are having a huge impact on Russia’s economy.
“Despite the fact that the Russian Federation receives oil revenues at higher prices, it cannot spend them due to export controls. It does not get what it needs to modernize the sector. of its defense, modernize its technologies, modernize its energy intelligence, which means that over time, each of these areas will decrease, ”said the head of the State Department.
He stressed that, according to forecasts, the Russian economy should shrink by 8-15% next year. At the same time, the ruble is held artificially at high cost, which also drains the economy.
“Thousands of companies have already left Russia, and the standard of living of Russians is falling,” Blinken said.
It will be recalled that the leaders of the G7 countries agreed on a ban on gold imports from Russia.
News from Athletistic in the Telegram. Subscribe to our channel Athletistic
Source: korrespondent
I am David Wyatt, a professional writer and journalist for Buna Times. I specialize in the world section of news coverage, where I bring to light stories and issues that affect us globally. As a graduate of Journalism, I have always had the passion to spread knowledge through writing.