The U.K. has sanctioned at least 29 entities and individuals that operate and support Russia's gold and oil sectors, in effort to cut off funding for the war in Ukraine. Nord Gold and Gold Mining, two of the largest producers of Russian gold, got sanctioned on Wednesday. Both companies have brought in over $300 million in gold revenue to Russia. The U.K. stated gold was a significant income stream supporting Russia's war against Ukraine, adding it was worth about $12.6 billion to Russia's economy.
https://www.wsj.com/articles/u-k-hits-russian-gold-oil-sectors-with-new-sanctions-package-0cd355ce?page=2
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