US official: the G7 wants to finance aid to Ukraine through taxes on Russian goods

A US official said the G7 wants to finance aid to Ukraine through a tax on Russian goods.

Leaders of the Group of Seven Nations meet in the Bavarian Alps, where they discuss how to tackle high inflation and avert the threat of recession, as well as war in Ukraine and its impact on food and energy supplies and the global economy.

The leaders of the club rich countries will discuss setting a possible ceiling on Russian oil prices during the summit, which ends tomorrow.

On the first day of the summit, 4 countries, the United Kingdom, the United States, Japan and Canada, moved to ban new gold imports from Russia.

Britain said the ban targets wealthy Russians who buy gold bars as a safe haven to reduce the financial impact of Western sanctions. Last year, Russia’s gold exports were worth $ 15.5 billion.

US President Joe Biden told allies “we must stay together” against Russia.

A German government source said the G7 leaders were too in “really constructive” negotiations on setting a possible ceiling for Russian oil prices.

A French presidential official said Paris will push for a ceiling on oil and gas prices and is willing to discuss a US proposal.

G7 leaders have agreed to pledge $ 600 billion in public and private funds for countries in via development to counter China’s growing influence and mitigate the impact of rising food and energy prices.

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