RT.com
22 Jan 2023, 00:13 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 Rio De Janeiro 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 Rio De Janeiro Sun.
More InformationThe White House released this transcript of President Biden's 2023 State of the Union Address, as prepared for delivery.Mr. Speaker. ...
Beijing [China], February 8 (ANI): China has massively invested in over 150 countries majority of them being underdeveloped nations which ...
Washington [US], February 8 (ANI): Russia's Foreign Minister Sergey Lavrov's remark that the war is "started by the West," is ...
AWPer Florian "syrsoN" Rische has opted to take himself out of BIG's starting lineup, Dexerto reported Wednesday. The 26-year-old German's ...
The number of vessels for these imports has been growing, the outlet reportsIran has been deploying more ships as part ...
Fifth-seeded John Isner fired 22 aces without a double fault and emerged with a 7-6 (5), 7-6 (1) win over ...
Rescue teams in Turkey and Syria continue the search for survivors of the catastrophic earthquake that hit the region on ...
WASHINGTON D.C.: The Biden administration has indicated that it could end federal protection for grizzly bears in the northern Rocky ...
MANILA, Philippines: The Philippines has granted the United States four more locations to open military bases, U.S. Defense Secretary Lloyd ...
WASHINGTON, DC - The global community has extended aid to Turkey and Syria following the devastating earthquakes that hit the ...
WASHINGTON D.C.: US lawmakers have called on the Department of Energy to release documents detailing attempts by Russian hackers to ...
Photo credit: Ercin Erturk / Anadolu AgencyThe death toll from Monday's massive 7.8 magnitude earthquake in Turkey and Syria has ...