top of page
  • Writer's pictureBy The Financial District

"Neutral" Switzerland Processed 75 Tons Of Russian Gold Since March

Since March 2022, days after Russia's full-scale invasion of Ukraine, Swiss factories have received 75 tons of gold from Russia for processing, taking advantage of the fact that it is imported through London and does not violate sanctions, European Pravda reported.

Photo Insert: Before the full-scale war, Switzerland imported an average of 20 tons of Russian gold per year, while in the first five months of this year alone, 38 tons of gold from Russia were shipped to Switzerland via London.



A joint investigation conducted by Schweizer Radio und Fernsehen (SRF) and the Zurich newsweekly Die Wochenzeitung noted that in recent years, the gold refineries in Switzerland have processed a large amount of gold of Russian origin, which passed through London.


Since 2021, 110 tons of gold worth more than 6 billion Swiss francs (about $6.6 billion) were processed by Swiss refineries. Since the start of the full-scale war in March 2022, a total of 75 tons were refined in Switzerland.



It was also reported that the export of pharmaceutical products from Switzerland to Russia has soared to a record high despite the fact that the country has joined all EU sanctions against Russian aggression.

Before the full-scale war, Switzerland imported an average of 20 tons of Russian gold per year, while in the first five months of this year alone, 38 tons of gold from Russia were shipped to Switzerland via London.


All the news: Business man in suit and tie smiling and reading a newspaper near the financial district.

Similarly, Russian gold exports to the UK have increased in recent years. Experts interviewed by the outlets believe that the increase in gold sales from Russia to Switzerland through Britain could have been a preparation for the full-scale war and an additional source of income under sanctions.


"If Swiss refineries are now importing and melting this gold, it's legally unproblematic but ethically very questionable," explains former criminal law professor and gold trade expert Mark Peet, as refining turns "ethically questionable Russian gold" into gold with a Swiss stamp.


Government & politics: Politicians, government officials and delegates standing in front of their country flags in a political event in the financial district.

Worse, Switzerland has banned the shipment of Italian Leopard 2 main battle tanks to Ukraine after repair in Germany.





Optimize asset flow management and real-time inventory visibility with RFID tracking devices and custom cloud solutions.
Sweetmat disinfection mat

Comments


bottom of page