EconomyMedia: China bought record amount of gold from Russia

Media: China bought record amount of gold from Russia

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Development of the gold-bearing “Andreevsky” mine at the “Pioneer” mine in the Amur Region. archive photo

RBC: Russia sold record amount of gold to China

MOSCOW, November 22 – RIA Novosti. In October of this year, physical imports of Russian gold into China reached a record high – worth over two tons of 124.6 million dollars. red blood cell With reference to the data from the General Administration of Customs of China.

As is known from the department’s monthly statistics, this gold supply from Russia was the largest since 2016. However, Switzerland, Canada, South Africa and other provinces remain the main suppliers of the precious metal to China.

“In the January-October period of 2022, imports of unprocessed or semi-processed gold from Russia to China increased by 1.9 times compared to the same period of the previous year and amounted to 5.72 tons. The volume of supply in currency increased by 1.8 times, up to 330 million dollars” the reporters explained.

Gold-containing concentrate, which is unprofitable to process in our country, is traditionally sold from Russia to China, as Sergey Kashuba, head of the Russian Association of Gold Producers, commented on the publication.

Since July this year, the European Union has banned the purchase of Russian gold and jewelry. After the start of Russia’s special operation to demilitarize and demilitarize Ukraine, the West stepped up its sanctions pressure on Moscow. Many countries have announced that Russian assets will be frozen, calls for Russia to stop energy have risen. These measures turned out to be problems for the West itself – they led to an increase in inflation and food and fuel prices.

Source: Ria

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