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The European Union is considering imposing sanctions on Russian gold, a source familiar with the matter told Reuters.
According to the source, the European Commission is working on including Russian gold in a possible new package of penalties. So far, it is unclear if the EU would impose sanctions on Russian gold imports or metal delivery to Russia.
Gold is an important asset for the Russian Central Bank, which has experienced access limitations to some of its assets stored overseas due to Western sanctions.
Since the beginning of Russia's invasion of Ukraine in February, the EU has imposed six packages of sanctions on Russia and Belarus, but many sectors, like gas, have remained mostly unaffected.
Sanction measures are anticipated to resume as early as this week, during the EU heads of state conference in Madrid on June 23-24, said Reuters.
Picture Credits: Bloomberg
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