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Switzerland Imports Russian Gold for First Time Since War

  • More than 3 tons of gold was shipped to refining hub in May
  • Russian gold became taboo following invasion of Ukraine
Bars of Russian gold.

Bars of Russian gold.

Source: Bloomberg

Updated on

Switzerland imported gold from Russia for the first time since the invasion of Ukraine, showing the industry’s stance toward the nation’s precious metals may be softening. 

More than 3 tons of gold was shipped to Switzerland from Russia in May, according to data from the Swiss Federal Customs Administration. That’s the first shipment between the countries since February.