EU leaders to keep sanction pressure on Russia, gold flagged as new target

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European Union leaders aim to maintain pressure on Russia at their summit this week by committing to further work on sanctions, a draft document showed, with gold among assets that may be targeted in a possible next round of measures.

The EU has adopted six packages of sanctions against Russia and Belarus since the start of Moscow’s invasion of Ukraine on Feb. 24, but several sectors including gas remain largely untouched as EU governments avoid measures that could damage their own economies more than Russia’s.

“Work will continue on sanctions, including to strengthen implementation and prevent circumvention,” EU leaders will say at the end of their regular summit on June 23-24, according to the latest version of their draft conclusions dated June 20 and seen by Reuters.

The text represents a compromise between Nordic and eastern countries which pushed for a clear reference to a seventh package in the summit statement, and nations such as Germany and Belgium which want to focus on applying existing measures rather than immediately adding more.

via Reuters

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