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Swiss Imports of Russian Gold Rise to Most Since April 2020

  • About 5.7 tons of Russian bullion arrived in August, data show
  • Metal arrived from the UK, not under sanctions: Swiss customs
Updated on

Switzerland’s imports of Russian gold surged to the highest in more than two years, a sign that more old bullion from the country may be being remelted to make it easier to sell.

About 5.7 tons  -- worth $324 million -- of Russian metal was imported by the refining hub in August, according to data from the Swiss Federal Customs Administration. That’s the most since April 2020.