Britain imposes new sanctions against illegal trade in russian gold

The British government has announced a new wave of sanctions aimed at illegal gold trade, which will reduce russia's ability to finance its war against Ukraine.

The British government froze the assets of four people involved in gold smuggling. The assets of another person who bought russian gold worth more than $300 million and thus provided revenue for the russian federation were also frozen.

According to the British Foreign Office, the illegal gold trade fuels corruption, undermines the rule of law and violates human rights, including the exploitation of children.

"russia uses the illegal gold trade to launder money and evade sanctions, thus supporting putin's military actions," the foreign ministry said in a statement.

Source: Reuters