UK joins ban on imports of Russian gold

The UK, US, Canada and Japan will ban imports of Russian gold in an effort to hit Moscow's ability to fund the war in Ukraine.

The UK PM said the move would "strike at the heart of Putin's war machine".

Gold exports were worth £12.6bn to Russia in 2021, and the UK says their importance has increased since the invasion as oligarchs rush to buy bullion to avoid sanctions.

It comes as the G7 group of the world's richest nations meet in Germany.

US President Biden suggested the other G7 nations - Germany, France and Italy - would also join the ban.

"Together, the G7 will announce that we will ban the import of Russian gold, a major export that rakes in tens of billions of dollars for Russia," he said in a tweet.

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