UAE becomes top destination for Russian gold imports
Date
5/28/2023 8:40:05 AM
(MENAFN) A news agency declared that the United Arab Emirates has become a go to destination for Russian gold ever since Western administrations shut down their marketplaces as part of Ukraine-associated restrictions on Moscow.
In line with the outlet, quoting customs records, the Gulf state shipped in 75.7 tons of Russian gold valued at USD4.3 billion from February 24, 2022 till March 3, 2023. The number signifies a massive upsurge from only 1.3 tons throughout 2021.
A news agency said that China and Turkey were the upcoming largest destinations, shipping in nearly 20 tons individually throughout that time span as data displayed. Along with the Unites Arab Emirates, the three nations constituted in 99.8 percent of Russian gold shipment in the customs data for this time span.
The G7, EU and Switzerland disqualified Russian gold ship ins the pervious summer in an attempt to harm the nation`s USD20 billion gold sector. Before the restrictions, London was the first destination for Russian gold.
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