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US bans Russian gold imports in latest round of sanctions

Vladimir Putin
Posted at 11:31 AM, Jun 28, 2022
and last updated 2022-06-28 11:34:34-04

The U.S. Treasury announced it's targeting Russian gold in its latest round of sanctions for the country's invasion of Ukraine.

Russian gold can no longer be imported into the U.S. according to a statement from the U.S. Treasury.

“We once again reaffirm our commitment to working alongside our partners and allies to impose additional severe sanctions in response to Russia’s war against Ukraine,” said Secretary of the Treasury Janet L. Yellen.

In addition to gold imports, the U.S. is imposing sanctions on 70 entities in various sectors including defense, industrial, technology and manufacturing.

"Targeting Russia’s defense industry will degrade Putin’s capabilities and further impede his war against Ukraine, which has already been plagued by poor morale, broken supply chains, and logistical failures," Yellen said.

The State Department is also taking action against Russians. It is imposing visa restrictions on "officials believed to have threatened or violated Ukraine’s sovereignty, territorial integrity, or political independence."