(Bloomberg) -- US President Joe Biden and fellow Group of Seven leaders will agree to announce a ban on new gold imports from Russia, a person familiar with the plan says, the latest sanctions imposed after the Russian invasion of Ukraine.

The leaders will announce the joint pledge at their summit in Germany, which runs Sunday through Tuesday, the person said, speaking on condition of anonymity ahead of an announcement. The US Treasury Department will issue a ban on Tuesday, prohibiting US imports.

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