Russian gold arrives in Switzerland

In May, Switzerland imported a cargo of gold from Russia for the first time since Russia launched a special military operation in Ukraine, which is evident from the published Swiss customs data, according to a report by Reuters.
Noting that Russia is one of the world's largest producers of precious metals and Switzerland is the world's largest refining and transit center for gold, Reuters said that while Western sanctions on Russia have not directly targeted commercial gold shipments, many banks, shippers and refiners stopped dealing with Russian metal after the conflict in Ukraine began.
“Switzerland received 3.1 tonnes of gold worth around $200 million from Russia in May, accounting for around 2-3% of its total gold imports, the customs data show. That compares with an average of around 2 tonnes of gold a month imported by Switzerland from Russia in the 12 months to February,” the agency said.