US place new sanction on Russia, bans importation of Gold | The Countdown Nigeria
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US place new sanction on Russia, bans importation of Gold



United state government has placed a new sanction role on the Russians banning the importation of there gold resources in tight of violating human rights and abusing the Ukrainians.


The moves are the latest in response to Russia’s months-long war in Ukraine and were taken after the G7 German leader agreed onsteps, including the gold import ban, meant to weaken Moscow.

In a statement, the US Treasury Department announced sanctions on 70 entities, including State Corporation Rostec — “a massive Russian state-owned enterprise formed to consolidate Russia’s technological, aerospace, and military-industrial expertise” — and its key holdings and affiliates, as well as 29 Russian individuals.


Rachel Rizzo, a senior fellow at the Atlantic Council’s Europe Center, told CNN that imposing sanctions on Rostec is significant, noting that it “is basically the foundation of Russia’s defense industrial base.”

“It’s a massive state-owned enterprise and it involves different sections on tech, aerospace, military industrial expertise,” she said. “The company subsidiaries, they’re basically engaged in a super wide range of different industries, like auto and defense and metals.

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“If we can cut off their ability to export, import, sell, buy in these different sectors that then help Russia fund and continue to wage war against Ukraine, then that significantly decreases Russia’s ability to do so,” Rizzo said.

However, she noted that she does not believe “that any of the sanctions that we are implementing are meant to deter Russia in the very near term.”


“I don’t think that this is meant to cut off Russia from its defense industrial base today or tomorrow or next week, but in the long term, it will certainly have an effect and I think that’s how the United States and its allies are thinking about these,” she said.

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