Data from the Federal Customs Service confirmed that Russia’s exports of gold surged 220% in March year-on-year, amounting to 26.5 tons, value virtually $1.5 billion.
Exports had been 2.three occasions increased than in the earlier month, the report revealed.
The United Kingdom remained the main buyer of Russian gold, buying 21.1 tons, value $1.2 billion. Data, nevertheless, didn’t present whether or not the bought gold will keep in the UK or will be despatched to different international locations, since London is a vital world hub for the turnover and storage of treasured metals.
According to the statistics, round 1.5 tons of Russian gold has been exported to Turkey and India. The treasured metallic was additionally delivered to Kazakhstan, Switzerland, Armenia, and different international locations.
Overall, Russia’s gold exports in the first quarter of 2021 amounted to 51.eight tons, value $three billion. In bodily phrases that’s a 72% improve from the identical interval in 2020.
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