6/26, 11:09 PM (Source: TeleTrader)
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Blinken: G7 gold ban will cost Russia $19B a year

United States Secretary of State Antony Blinken asserted on Sunday that the ban on Russian gold imports the Group of Seven will announce will block Moscow from obtaining revenues estimated at $19 billion per year.

"That is the second most lucrative export that Russia has after energy... and most of that is within the G7 countries," he told CNN. Blinken continued to insist that Russian President Vladimir Putin has "already failed," alleging that his strategic objective was to "subsume" Ukraine in Russia.

The top US diplomat asserted that sanctions are "having a profound impact on Russia" as, due to export controls, Moscow's defense, technology and energy sectors will decline "over time."

Baha Breaking News (BBN) / MS