EU Considers Sanctions on Russian Gold: Reuters

The European Union continues to identify sectors that may be subject to sanctions and is discussing the option of imposing restrictive measures on Russian gold. This was reported by RTVI, referencing Reuters.

According to the publication, during the summit scheduled for June 23-24, EU leaders will adopt a final statement that will note that "work on anti-Russian sanctions, including strengthening their implementation and preventing circumvention, will continue."

Reuters notes that this text was the result of a compromise between Scandinavian and Eastern European countries, which insisted on a clear indication of the seventh package of sanctions, and countries like Germany and Belgium, which want to focus on implementing existing measures instead of immediately adding new ones. The previous version of the statement made no mention of "further work on sanctions," and this amendment was seen as a victory for the "bargainers," the newspaper highlights.

While a new package of sanctions is not currently ready, the EU continues to identify areas that may be targeted, sources familiar with the matter told Reuters. The next potential target, according to the interlocutors, could be gold. An individual familiar with the work on sanctions confirmed to Reuters that the European Commission is considering the inclusion of gold in the list of sanctions for the next phase, although it remains unclear whether this pertains to exports from Russia, imports from Russia, or both.

Denmark proposed sanctions on Russian gold during a closed meeting of EU ambassadors last week, an EU ambassador's representative informed Reuters. The publication emphasizes that gold is the most important asset of Russia's Central Bank, which has lost access to foreign reserves due to sanctions.