Switzerland imported Russian gold in May for first time since Ukraine attack
By Reuters Staff
"LONDON, June 21 (Reuters) - Switzerland imported gold from
Russia in May for the first time since the Kremlin sent troops
into Ukraine in February, Swiss customs data showed on Tuesday.
Switzerland is the world's biggest refining and transit
centre for gold and Russia is one of the biggest bullion
producers.
Western sanctions on Russia have not directly targeted
commercial gold shipments but many banks, shippers and refiners
stopped dealing with Russian metal after the conflict in Ukraine
began.
Switzerland received 3.1 tonnes of gold worth around $200
million from Russia in May, accounting for around 2-3% of its
total gold imports, the customs data show.
That compares with an average of around 2 tonnes of gold a
month imported by Switzerland from Russia in the 12 months to
February.
On the export side, Swiss shipments of gold to China fell in
May but exports to India rose to their highest in six months.
China and India are the two largest bullion consumer markets.
Following are numbers and comparisons. ... "
https://www.reuters.com/article/swiss-t ... FL1N2Y81HW