The United States on Tuesday imposed sanctions on more than 100 targets and banned new imports of Russian gold, acting on commitments made by the Group of Seven leaders this week to further punish Russia over its invasion of Ukraine.
The United States has issued a new round of Russia-related sanctions that prohibit imported Russian gold as well as target Russia's state-owned defense conglomerate Rostec and multiple banks, including the Bank of Moscow, the Treasury Department said on its website on Tuesday.
The United States on Tuesday imposed sanctions on over 100 targets and banned the import of new Russian gold, increasing pressure on Russia following its invasion of Ukraine in line with commitments made by the G7 this week.
Copper prices rose on Tuesday alongside
a rebound in equities and hopes of more economic stimulus in top
metals consumer China, although lingering recession fears kept
gains in check.
Buy and hold, maximum long. That has basically been the strategy for commodity hedge funds for the last couple of years, but it is fast losing its luster. Crude oil, industrial metals and a range of agricultural commodities are down significantly from their peaks earlier this year - in some cases by up to 50% - as rising interest rates increase the likelihood of U.S. and global recession.
London copper prices slipped on Tuesday
on a firm U.S. dollar and lingering concerns that rapid interest
rate hikes would lead to a global economic slowdown, hitting
demand for metals.
London copper prices fell on Tuesday on
a firm U.S. dollar and lingering concerns that rapid interest
rate hikes would lead to a global economic slowdown, hitting
demand for metals.
analyst
(Updates prices and details)
By Ashitha Shivaprasad
June 27 (Reuters) - Gold prices edged lower on Monday as
higher rates weighed on bullion, while investors watched for any
cues on ...
A move by Britain, the United States, Japan and Canada to ban new imports of Russian gold is being seen as largely symbolic within the global gold market as Russian exports to the West have already dried up. Britain said on Sunday the ban was intended to limit Russia's ability to fund its military operation in Ukraine.
Discussions on an import ban on Russian gold are ongoing and need to be held with European Union partners, German Chancellor Olaf Scholz told broadcaster ZDF on Monday. The European Union gave a cautious response on Sunday to a plan from Britain, the United States, Japan and Canada to ban imports of newly mined or refined Russian gold.
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