Gold is Russia’s second-most valuable expo


The U.S. has banned imports of Russian gold, broadening sanctions against the country following the Kremlin’s invasion of Ukraine in February, the U.S. Treasury Department said Tuesday.

The Treasury on Tuesday also blacklisted 70 groups, many of which the U.S. said are critical to Russia’s defense industrial sector, including state-owned defense conglomerate Rostec, as well as 29 Russians.

The U.S. and the U.K. announced the move on Sunday during a Group of Seven meeting in the Bavarian Alps, with the rest of the G-7 joining the ban. Gold is Russia’s second most valuable export after energy and “rakes in tens of billions of dollars,” President Biden tweeted.…