Russian Gold Flows to UAE Amid Sanctions and De-Dollarization.
TL;DR Summary
Western sanctions have blocked exports of Russian gold to London and other major gold trading hubs, leading to a surge in exports to the United Arab Emirates, which received 75.7 metric tons of Russian gold worth $4.3 billion in the year after Russia invaded Ukraine. China and Turkey imported around 20 tons of Russian gold each during the same period. Experts warn that the Russian gold could end up being sold to Western markets with its origin disguised, posing a risk to buyers wishing to respect sanctions against regimes.
- After Sanctions, Most Russian Gold Went to One Country Newser
- Exclusive: From Russia with gold: UAE cashes in as sanctions bite Reuters
- UAE Sucks Up Billions of Dollars of Russian Gold After Start of Ukraine War The Daily Beast
- Gold is going to be record costly and de-dollarisation is the reason Firstpost
- Russian gold shipments to the UAE, China and Turkey Reuters
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