Switzerland imported over 14 tons of gold worth $874 million from Russian origin through the United Kingdom and Moldova last month, despite the imposed sanctions. The Swiss Federal Council stated in a press release on its website that "the importation of this gold was carried out without violating the current sanctions." The statement noted: "In October 2023, the value of imports from Russia reached 776 million francs (approximately $877 million), of which 773.2 million francs ($874 million) were shipments of Russian gold sourced from the UK (772.6 million francs) and Moldova (0.6 million francs). These gold shipments complied with the applicable conditions at the time of import.” Earlier, Switzerland adopted a package of European Union sanctions against Russia, which includes a ban on Russian gold supplies, with the restriction coming into effect in August 2022.
Switzerland Purchases Gold from Russian Origin
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