Russia may ban gold exports by individuals. This was reported by Interfax Referring to the words of Deputy Minister of Finance Alexei Moiseev.
At the plenum meeting of the State Duma, the Deputy Minister of Finance said that due to secret smuggling, the budget receives 5-6 tons less precious metal annually.
Various measures are taken here. First of all, this is a bill currently being worked on, I hope it will be supported. It was decided to limit the export of scrap and waste. “As a rule, the gold concentrate that emerges in such cases is exported under the name of scrap and waste,” explained the deputy minister.
Previously, the Russian government had imposed a ban on the export of waste and scrap from precious metals from November 1 to April 30, 2024. The ban also applies to waste containing precious metals. The publication states that a similar ban is in effect from March 20 to September 20, 2023.
According to the government, the proposed changes will increase the burden on industrial enterprises and increase budget revenues.
Before this, it was clear which place to take Russia is in the world gold and silver market.
Previously in UAE augmented Gold imports from Russia after Western restrictions.