Last year, the United Arab Emirates (UAE) became a major importer of Russian gold. informs Reuters cites Russian customs data from a commercial supplier. Türkiye and China also increased their gold imports from Russia.
According to the agency, last year the volume of Russian gold imports to the UAE reached 75.7 tons worth $4.3 billion, compared to just 1.0 tons a year ago.
Reuters points out that Turkey and China have significantly increased the volume of Russian gold imports, with each country importing 20 tons each from February 24, 2022 to March 3, 2023.
According to the data provided by Reuters, Russia exported 116.3 tons of metal in total in the specified period, and these three countries realized 99.8% of precious metal exports. At the same time, it was not specified how much of the mined gold was exported.
Bloomberg May 3 reportedHe said that after the imposition of sanctions by the European Union and G7 countries, Russian gold began to be diverted mainly to Asian markets, including the United Arab Emirates, Hong Kong and Turkey. At the same time, little-known companies began to sell precious metals from the Russian Federation, followed by broadcast.