UK Sanctions Gold and Oil Traders in New Russian Clampdown
- UK restricts gold trader Paloma and Howard Jon Baker
- UAE has emerged as top destination for Russian gold since war
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The UK government targeted Russian gold miners, the largest refiner and a Dubai-based trader involved in routing funds to Moscow as part of a package of fresh sanctions tied to the country’s gold and oil sectors.
The UK on Wednesday sanctioned Nord Gold Plc and Highland Gold Mining Ltd. alongside Krastsvetmet JSC, the biggest precious metals refinery in Russia.