📌 After Western sanctions, Russia has chosen a new market for gold exports.

➡️ The West has imposed multifaceted sanctions on Russia due to the Ukraine war. Because of this, the London market, the main center of the gold trade, has been closed to Russia. Therefore, Russian gold traders are now leaning toward East Asian markets.

➡️ In the first seven months of 2026 alone, nearly 100 tons of gold have gone from Russia to Hong Kong, which is almost three times compared to the same period last year.

➡️ At the same time, Hong Kong has now also become the main route for Russian gold to enter China. Since 2022, various institutions in the region have bought nearly 35 billion dollars of Russian gold.

➡️ Due to this huge gold business in East Asia, it is becoming difficult for Western banks to fully implement international sanctions on Russia.

Source: Financial Times

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