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US prohibits Russian gold imports

Added 06-28-22 12:37:04pm EST - “Washington has banned the import of Russian gold as part of the latest Ukraine-related sanctions” - Rt.com

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Posted By TheNewsCommenter: From Rt.com: “US prohibits Russian gold imports”. Below is an excerpt from the article.

The US has banned the import of Russian gold, a document from the Treasury’s Office of Foreign Assets Control (OFAC) released on Tuesday shows.

“The importation into the United States of gold of Russian Federation origin is prohibited, except to the extent provided by law, or unless licensed or otherwise authorized by OFAC,” the statement published on the Treasury’s website says, noting that the ban comes into immediate effect.

The document specifies that the ban does not apply to Russian gold that was exported outside the country prior to June 28.

The document names gold as Russia’s “biggest non-energy export,” which is factually incorrect.

According to Moscow, the second biggest export is food. Russian exports of agriculture products were worth around $37 billion in 2021, while gold exports reportedly generated about $15 billion.

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