G7 will prohibit imported gold and American economists from Russia: the United States will pay a high price

Overseas Network, June 27th, Russia reported that the United States announced on the 26th that it would ban the import of gold from Russia with members of the Seven National Group (G7) on the 26th. In this regard, Peter Herff to American economists and President Pacific Capital Corporation in Europe stated on social media that the move will be counterproductive again, and the United States will pay a high price for it.

According to the British government website on the 26th, Britain, the United States, Canada, and Japan decided to ban gold from Russia. US President Biden said on the same day that members of the United States and other G7s will jointly ban gold from Russia. In response, American economist Peter Hiff commented on Twitter on the 26th: "This move will be counterproductive again. Biden will hit Americans, not Putin. Americans will eventually pay a higher price for gold. Biden is helping Russia. "

U.S. Secretary of State Brills said in an interview with the United States CNN on the 26th that gold is the second largest export product in Russia after energy, and most of them flow to G7 countries. The gold export embargo will cause Russia to lose $ 19 billion in income each year.

Today's Russian television reported that Brintken's statement was incorrect. In fact, Russia's second largest export product is food, and in 2021, Russia's agricultural exports exceeded $ 37 billion. Even if the G7 countries are prohibited from importing gold from Russia, Russia can still find other buyers. (Overseas Network Zhang Qi)

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