20 September 2022

Switzerland's Imports of Russian Gold Rise

International and Arabic
  • Russia

Geneva, September 20 (QNA) - Switzerland's imports of Russian gold rose to their highest level in more than two years, in a possible sign of re-melting gold ingots in Russia to facilitate the sale.
Data from the Federal Customs Administration in Switzerland (FCA) showed that the country's gold refining plant imported about 5.7 tons, at a cost of USD 324mn of Russian gold last August.
It noted that this amount is the largest since April 2020.
Russian gold has been affected by Western sanctions on Moscow since the start of Russian military operations in Ukraine on February 24.
The United States, the European Union and Switzerland imposed sanctions on the new Russian gold, but the FCA said in June that trading in bullion produced by Russian refineries before March 7 is still possible. (QNA)


Economy, International
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