TheRedPillCommunity
Politics • Education
This community platform is for Empowerment, Truth, and Justice!
Interested? Want to learn more about the community?
West losing Russian gold – Bloomberg

Other destinations have taken over Russia’s bullion trade after the G7 and EU banned imports from the sanctioned country
West losing Russian gold – Bloomberg
© Sputnik / Ilya Naymushin
A number of countries are snapping up Russian gold bullion after Western governments closed their markets as part of Ukraine-related sanctions on Moscow, Bloomberg reported on Tuesday.

The G7, EU and Switzerland, a major gold hub with a traditionally neutral stance, banned Russian gold imports last summer in an effort to damage the country's $20 billion gold industry.

Prior to the sanctions, London was the top destination for Russian gold. Now, since major gold-buying banks such as JPMorgan Chase and HSBC Holdings stopped trading Russian precious metals, numerous small players from logistics companies to dealers have stepped in, Bloomberg wrote.

Exports from the sanctioned country have been rerouted to the United Arab Emirates, Hong Kong and Türkiye, which have not joined Western restrictions, the outlet said, citing data from trade-tracking firm ImportGenius, based on Russian customs figures for the six months through August.

Western sanctions have blocked Russian gold from their own markets and banned merchants from dealing with it. But companies in other countries are not prohibited from trading the precious metal as there are no secondary sanctions.

Russian gold production soarsREAD MORE: Russian gold production soars
The UAE, which has become a hub for the precious metals trade between the East and West, has replaced the UK as the new top destination for Russian gold, with more than $500 million worth of bullion being exported there in the six months through August.

Russian gold worth about $305 million was tracked as passing through Istanbul airport between March and August last year, making Türkiye the second key endpoint of the precious metal.

Hong Kong-based financial company VPower Finance Security, which provides cash and gold for Chinese banks, handled more than $300 million of Russian gold shipments between March and August last year, according to ImportGenius tracking data.

Meanwhile, Russian gold miners boosted output by 26.5% year-on-year in March, according to the latest data from the Federal State Statistics Service (Rosstat). Gold production jumped by more than 30% compared to February. The first quarter figure was 9.1% higher than in the same period last year.....More Below

https://www.rt.com/business/575729-russian-gold-export-western-sanctions/

Interested? Want to learn more about the community?
What else you may like…
Videos
Podcasts
Posts
Larry Johnson - The American Empire is dead!

Larry Johnson - The American Empire is dead!

00:04:30
TheRedPillShorts - Trump is sukk__g of BB Netanyaha
00:00:50
Larry Johnson - we are headed for war with Iran
00:06:27
Geopoli-Tricks: American Empire In Decline(Ft. CIA Chief Analyst Raymond McGovern) Excerpt
Geopoli-Tricks: American Empire In Decline(Ft. CIA Chief Analyst Raymond McGovern) Excerpt
Breaking: Russian Forces hit huge NATO convoy in Lviv,UKR
Breaking: Russian Forces hit huge NATO convoy in Lviv,UKR
Treaty on Strategic Partnership Between Russia and Iran Enters Into Force - Ambassador

Russian Foreign Ministry spokeswoman Maria Zakharova earlier said that the treaty provides for various forms of bilateral cooperation.

The comprehensive strategic partnership agreement between Russia and Iran has entered into force, Iranian Ambassador to Russia Kazem Jalali told Sputnik.

"It is already binding," Jalali said when asked about the date of entry into force of the agreement, as well as whether Iran had notified Russia of the completion of internal procedures.
He recalled that the treaty was ratified by both chambers of the Russian parliament, and Russian President Vladimir Putin signed it. At the same time, the document was ratified by the Iranian parliament, approved by the Guardian Council, and the president issued it as a law.

"Therefore, in both countries it currently has the form of a law and, naturally, has entered into force," Jalali said.
On January 17, Putin and his Iranian counterpart, Masoud Pezeshkian, met in Moscow to sign the Comprehensive Strategic ...

Lavrov Responds to Trump's Ultimatum to Russia
post photo preview
PALESTINE Global coalition charges Israel with genocide, defies US threats to pursue justice

Defying the United States threats, ministers from more than 30 nations have packed Bogotá’s San Carlos Palace to charge the Israeli regime with genocide over its October 2023-present brutal military assault against the Gaza Strip.

The dramatic display of international solidarity saw dozens of high-ranking officials from across the globe convene inside the stately palace on Tuesday, determined to hold the regime accountable for, what they unequivocally called, a “war of genocide.”

The two-day emergency summit, organized under the auspices of The Hague Group -- a coalition co-chaired by Colombia and South Africa -- had representatives, ranging from such countries as Algeria and Brazil to Pakistan and Spain, in attendance.

The participants described the drive as a coordinated effort to stop the Israeli atrocities.

Behind closed doors, ministers and envoys, meanwhile, engaged in intensive sessions aimed at drafting collective measures to pressure the regime -- steps expected to be unveiled by ...

See More
Available on mobile and TV devices
google store google store app store app store
google store google store app tv store app tv store amazon store amazon store roku store roku store
Powered by Locals