Experts: Western ban on Russian gold will not affect its producers

Experts ruled out that the ban on the purchase of Russian gold by the G7 countries would affect gold producers in Russia, which is one of the largest gold exporters in the world.

Experts, whose opinion was interviewed by the Russian TASS agency, believe that such restrictions will not affect the fact that the export of gold from Russia to Europe is suspended for some time after the London Metal Exchange (LME) withdrew the status of a reliable supplier “from Russian refineries.

Russia is one of the largest exporters of gold in the world, and according to Russian customs, at the end of 2021, Russia exported about 302 tons of the precious metal, worth $17.36 billion.

And last Sunday, US President Joe Biden announced that the United States and the G7 countries would ban the import of Russian gold.

Source: TASS

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