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Swiss Customs Say Russian Gold Import Arrived From the UK

  • Over 3 tons of gold was recorded as imported from Russia
  • Russia’s gold became taboo following the invasion of Ukraine
Russian gold bars.
Russian gold bars.Photographer: Andrey Rudakov/Bloomberg
Updated on

Gold recorded as originating from Russia arrived in Switzerland from the UK last month, according to the Swiss Federal Customs Administration.

More than 3 tons of gold -- worth about $200 million -- was recorded as being imported from Russia to Switzerland last month, according to customs data. The industry has been abuzz with speculation about the trade, especially after the association of Swiss refiners said its members hadn’t imported the metal.