Amid large scale sanctions against Russia, the Biden administration banned the import of Russian gold. The US Treasury imposed sanctions on 70 entities including Russia's state Corporation Rostec which is believed to be the cornerstone of the country's defence, industrial, technology and manufacturing hub.

Ukraine war: US sanctions Russian gold import, defence industry

A week after a chorus of Western executives from Exxon Mobil, BP, Shell and other companies denounced Moscow’s violent onslaught in Ukraine and pledged to pull their companies out of Russian ventures, it appears the turbulence for Russia’s energy industry has only begun.

Future turns dark for Russia’s oil industry

As the war against Ukraine continues, President Joe Biden announced on Tuesday that his administration is banning Russian oil imports. The US president said the decision to ban Russian oil imports was done "in close consultation" with allies.

President Biden bans Russian oil imports