Will prohibit Russia gold imports under latest sanctions

The United States will prohibit Russian gold imports in the latest round of sanctions, the Treasury Department announced on its website on Tuesday, as reported by Reuters. Additional takeaways “US imposes Russia-related sanctions on dozens of entities and individuals.” “Latest sanctions target Russia’s state-owned defense conglomerate Rostec and affiliated entities.” “Latest sanctions target multiple banks … Read more

Will discuss consequences of Russia’s invasion of Ukraine at NATO summit

The White House said in a press release on Tuesday that at the NATO summit in Madrid, leaders will discuss the consequences of Russia’s invasion of Ukraine. At the NATO summit, the “alliance will take historic decisions to strengthen the alliance’s collective defense and security,” the White House said. Related reads .

Kremlin rejects Russian default, says bond payments executed

Russia does not accept that it has defaulted on its external debt, the Kremlin said in a statement on Monday. Additional takeaways Russian gold and forex reserves are blockedly prohibited. Russia made payment on euro bond coupons in May. Euroclear not accepting Russia’s euro bond transaction ‘is not our problem’. Early Monday, Bloomberg reported that … Read more

G7 still working on precise mechanism to implement price cap on Russian oil

With the G7 Summit underway, a US official said on Monday that the G7 is close to setting a global price cap for Russian oil. Additional comments “To issue coordinated steps tomorrow to raise pressure on Russia.” “Targeting services for transporting Russian oil is a ‘promising avenue’.” “The US will impose higher tariffs on Russian … Read more

XAU/USD advances to near $1,840 as G7 bans Russian gold imports

Gold price has given an upside break of $1821.25-1,831.87 as G7 bans Russian gold exports. Gold exports are the second largest revenue generation source for Russia. Lower expectations from the US economic data have weakened the DXY. Gold price (XAU/USD) has climbed above $1,836.00 after overstepping Friday’s high at $1,831.87. The announcement of a prohibition … Read more

Russia defaults on Foreign debt, first time since 1918

Bloomberg gas reported that Russia has ”defaulted on its foreign-currency sovereign debt for the first time in a century, the culmination of ever-tougher Western sanctions that shut down payment routes to overseas creditors. For months, the country found paths around the penalties imposed after the Kremlin’s invasion of Ukraine. But at the end of the … Read more