UPDATE: US to slap duties on Russian goods, ban access to tech

(Rewrites story)

MOSCOW/WASHINGTON, Jun 27 (PRIME) -- U.S. President Joe Biden will announce an increase of duties on 570 groups of Russian goods with a combined cost of U.S. $2.3 billion, and close access to technologies and semiconductors for several companies that support Russia, the White House said in a statement on Monday.

The duties should raise Russia’s spending and minimize spending of the U.S. consumers, the statement read.

The Group of Seven leading industrial nations, or the G7, plans to restrict Russia’s income from gold exports as well, the White House said.

The G7 will publish a joint statement on support of Ukraine, which will include the new anti-Russian sanctions, according to the statement.

Earlier in the day, Reuters reported quoting a U.S. official that Washington planned to announce blocking sanctions against Russia’s largest defense companies on Tuesday.

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