{"id":15940,"date":"2022-06-27T12:40:59","date_gmt":"2022-06-27T07:10:59","guid":{"rendered":"https:\/\/gjepc.org\/solitaire\/?p=15940"},"modified":"2022-06-27T16:13:52","modified_gmt":"2022-06-27T10:43:52","slug":"uk-canada-us-japan-sanction-russian-gold-exports","status":"publish","type":"post","link":"https:\/\/gjepc.org\/solitaire\/uk-canada-us-japan-sanction-russian-gold-exports\/","title":{"rendered":"UK, Canada, US &#038; Japan Sanction Russian Gold Exports"},"content":{"rendered":"\n<p>The UK, US Canada, and Japan announced at the G7 Summit on 26<sup>th<\/sup> June that exports of Russian gold, its biggest non-energy export, will no longer be allowed to be enter their respective countries. LBMA noted that these rules to apply only to new gold of Russian origin, not to old production (which remains Good Delivery).<\/p>\n\n\n\n<p>\u201cWe believe this will help to maintain an orderly market.\u202fThe date of new and old production will be communicated at a later date, once we get further clarity from the UK government,\u201d LBMA said.<\/p>\n\n\n\n<p>Gold is a major Russian export, worth approximately $15.4 billion to the Russian economy in 2021. Its value to the Russian elite has also increased in recent months with oligarchs rushing to buy gold bullion in an attempt to avoid the financial impact of Western sanctions. The tough new measures are intended to ratchet up the pressure on Russia, the UK Government said.<\/p>\n\n\n\n<p>London is a major global gold trading hub and UK sanctions, which will be the first of their kind to be implemented against Russia anywhere in the world, will have a huge impact on Putin\u2019s ability to raise funds, it added.<\/p>\n\n\n\n<p>Given\u2019s London central role in the international gold trade and parallel US, Japanese and Canadian action, this measure will have global reach, shutting the commodity out of formal international markets. At the G7, the UK Prime Minister will urge other leaders to join us to further isolate Russia from the international financial system, the statement read.<\/p>\n\n\n\n<p>The UK Prime Minister Boris Johnson said: \u201cThe measures we have announced today will directly hit Russian oligarchs and strike at the heart of Putin\u2019s war machine. Putin is squandering his dwindling resources on this pointless and barbaric war. He is bankrolling his ego at the expense of both the Ukrainian and Russian people. We need to starve the Putin regime of its funding. The UK and our allies are doing just that.\u201d <\/p>\n\n\n\n<p>The measures build on the action taken by the London Bullion Market on 7th March to suspend six Russian refineries. The gold import ban, which will come into force shortly, will apply to newly mined or refined gold. It does not impact Russian-origin gold previously exported from Russia. There are no plans to extend restrictions to Russian gold purchased legitimately before the import ban was put in place.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The UK, US Canada, and Japan announced at the G7 Summit on 26th June that exports of Russian gold, its biggest non-energy export, will no longer be allowed to be enter their respective countries. LBMA noted that these rules to apply only to new gold of Russian origin, not to old production (which remains Good&hellip;<\/p>\n","protected":false},"author":1,"featured_media":15941,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[83],"tags":[],"thb-sponsors":[],"class_list":["post-15940","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bulletin"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v14.5 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>UK, Canada, US &amp; Japan Sanction Russian Gold Exports - Solitaire magazine is a International jewellery magazine - India\u2019s leading B2B gem and jewellery magazine<\/title>\n<meta name=\"robots\" content=\"index, follow\" \/>\n<meta name=\"googlebot\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<meta name=\"bingbot\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/gjepc.org\/solitaire\/uk-canada-us-japan-sanction-russian-gold-exports\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"UK, Canada, US &amp; Japan Sanction Russian Gold Exports - Solitaire magazine is a International jewellery magazine - India\u2019s leading B2B gem and jewellery magazine\" \/>\n<meta property=\"og:description\" content=\"The UK, US Canada, and Japan announced at the G7 Summit on 26th June that exports of Russian gold, its biggest non-energy export, will no longer be allowed to be enter their respective countries. LBMA noted that these rules to apply only to new gold of Russian origin, not to old production (which remains Good&hellip;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/gjepc.org\/solitaire\/uk-canada-us-japan-sanction-russian-gold-exports\/\" \/>\n<meta property=\"og:site_name\" content=\"Solitaire magazine is a International jewellery magazine - India\u2019s leading B2B gem and jewellery magazine\" \/>\n<meta property=\"article:published_time\" content=\"2022-06-27T07:10:59+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-06-27T10:43:52+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/gjepc.org\/solitaire\/wp-content\/uploads\/2022\/06\/02-banner-2.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1000\" \/>\n\t<meta property=\"og:image:height\" content=\"500\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebSite\",\"@id\":\"https:\/\/gjepc.org\/solitaire\/#website\",\"url\":\"https:\/\/gjepc.org\/solitaire\/\",\"name\":\"Solitaire magazine is a International jewellery magazine - India\\u2019s leading B2B gem and jewellery magazine\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":\"https:\/\/gjepc.org\/solitaire\/?s={search_term_string}\",\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/gjepc.org\/solitaire\/uk-canada-us-japan-sanction-russian-gold-exports\/#primaryimage\",\"inLanguage\":\"en-US\",\"url\":\"https:\/\/gjepc.org\/solitaire\/wp-content\/uploads\/2022\/06\/02-banner-2.jpg\",\"width\":1000,\"height\":500},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/gjepc.org\/solitaire\/uk-canada-us-japan-sanction-russian-gold-exports\/#webpage\",\"url\":\"https:\/\/gjepc.org\/solitaire\/uk-canada-us-japan-sanction-russian-gold-exports\/\",\"name\":\"UK, Canada, US & Japan Sanction Russian Gold Exports - Solitaire magazine is a International jewellery magazine - India\\u2019s leading B2B gem and jewellery magazine\",\"isPartOf\":{\"@id\":\"https:\/\/gjepc.org\/solitaire\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/gjepc.org\/solitaire\/uk-canada-us-japan-sanction-russian-gold-exports\/#primaryimage\"},\"datePublished\":\"2022-06-27T07:10:59+00:00\",\"dateModified\":\"2022-06-27T10:43:52+00:00\",\"author\":{\"@id\":\"https:\/\/gjepc.org\/solitaire\/#\/schema\/person\/b614a6d604f6c36c387b4c876bb33d79\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/gjepc.org\/solitaire\/uk-canada-us-japan-sanction-russian-gold-exports\/\"]}]},{\"@type\":[\"Person\"],\"@id\":\"https:\/\/gjepc.org\/solitaire\/#\/schema\/person\/b614a6d604f6c36c387b4c876bb33d79\",\"name\":\"GJEPC\",\"image\":{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/gjepc.org\/solitaire\/#personlogo\",\"inLanguage\":\"en-US\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/f6c5b479a8ec14da0f88385e2b6cd51ccb37ac80c31409ecaebe5524700952a2?s=96&d=mm&r=g\",\"caption\":\"GJEPC\"}}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","_links":{"self":[{"href":"https:\/\/gjepc.org\/solitaire\/wp-json\/wp\/v2\/posts\/15940","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/gjepc.org\/solitaire\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/gjepc.org\/solitaire\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/gjepc.org\/solitaire\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/gjepc.org\/solitaire\/wp-json\/wp\/v2\/comments?post=15940"}],"version-history":[{"count":2,"href":"https:\/\/gjepc.org\/solitaire\/wp-json\/wp\/v2\/posts\/15940\/revisions"}],"predecessor-version":[{"id":15949,"href":"https:\/\/gjepc.org\/solitaire\/wp-json\/wp\/v2\/posts\/15940\/revisions\/15949"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/gjepc.org\/solitaire\/wp-json\/wp\/v2\/media\/15941"}],"wp:attachment":[{"href":"https:\/\/gjepc.org\/solitaire\/wp-json\/wp\/v2\/media?parent=15940"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/gjepc.org\/solitaire\/wp-json\/wp\/v2\/categories?post=15940"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/gjepc.org\/solitaire\/wp-json\/wp\/v2\/tags?post=15940"},{"taxonomy":"thb-sponsors","embeddable":true,"href":"https:\/\/gjepc.org\/solitaire\/wp-json\/wp\/v2\/thb-sponsors?post=15940"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}