RT.com
21 Jan 2023, 19:43 GMT+10
Imports of the precious metal surged over 60% last year
China stepped up imports of gold from Russia in 2022, data released by the country's customs agency on Saturday showed.
Last year, China bought a total of 6.6 tons of Russian gold, worth a record $386.9 million, including shipments in both unprocessed (3.7 tons) and semi-processed form (2.9 tons).
In December alone, gold shipments from Russia to China totaled 220.2 kilograms, worth $14.85 million.
Overall, Russian gold exports to the Asian nation soared by 67.3% in physical terms and by 63.3% in monetary terms from 2021.
However, so far Russia's share in Chinese gold purchases remains small. The main supplier of gold to China is Switzerland, with sales in 2021 totaling over $34 billion. Rounding out the top five suppliers to China are Canada, South Africa, Australia, and Hong Kong.
Russian gold exports began to fall under Western sanctions in mid-2022. The EU, UK, US, Japan, and Canada banned the purchase, import or transfer, directly or indirectly, of gold originating in Russia and exported from the country. Prior to sanctions, the UK was the largest buyer of Russian gold, having acquired 266.1 tons of the metal (88% of total exports), worth $15.4 billion, in 2021.
For more stories on economy & finance visit RT's business section
(RT.com)
Get a daily dose of Denmark Sun news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Denmark Sun.
More InformationDUBLIN, Ireland: A marine safety watchdog has urged the Minister for Transport to consider deploying gardai, naval officers, and harbor...
DUBLIN, Ireland: A record number of Ireland's beaches and marinas have been awarded the prestigious Blue Flag for the 2025 bathing...
STOCKHOLM, Sweden: Apple has blocked access to the popular video game Fortnite on iPhones in the United States and through Epic Games'...
MOSCOW, Russia: Russia has sentenced a 33-year-old Australian man to 13 years in a high-security prison for fighting with Ukrainian...
PARIS, France: Richemont, the owner of luxury brands Cartier and Van Cleef & Arpels, posted a stronger-than-expected seven percent...
STOCKHOLM, Sweden: Sweden plans to propose that the European Union join the Pacific Rim trading bloc, the CPTPP, aiming to create the...
U.S. furniture makers, supposedly the winners of Trump's protectionist push, are finding that the tariffs meant to help them are doing...
Copenhagen [Denmark], May 21 (ANI): External Affairs Minister S Jaishankar expressed his gratitude for Denmark's solidarity in the...
Brussels [Belgium], May 20 (ANI): The European Union and the United Kingdom unveiled new sanctions targeting Russia's economy, shadow...
A 16-year-old suspect has been taken into custody after a knife attack on female students at a school in southern Finland Three schoolgirls...
(250520) -- KUALA LUMPUR, May 20, 2025 (Xinhua) -- Daniel Lundgaard/Mads Vestergaard (R) compete during the men's doubles round of...
Kyiv [Ukraine], May 20 (ANI): Ukrainian President Volodymyr Zelenskyy on Tuesday accused Russia of using diplomacy to 'buy time to...