EU’s next potential sanctions target revealed

Gold is among assets that may be targeted in the next round of sanctions on Russia, Reuters reported on Tuesday, citing a draft document by EU leaders. The topic is expected to be discussed during the their regular summit on Friday.

“Work will continue on sanctions, including to strengthen implementation and prevent circumvention,” the draft document dated June 20 said.

Although no new package is currently being prepared, work is ongoing to identify sectors that could be hit, officials familiar with the discussions said, as quoted by the outlet. They indicated that gold could be one of the next targets.

A person familiar with the work on the sanctions also told Reuters that the European Commission was working on adding gold to the list. The source, however, said it was not yet clear whether the measure would ban exports of gold, imports, or both.

The EU has adopted six packages of sanctions on Russia over its military operation in Ukraine, including a phased embargo on oil imports.

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