The Federal Customs Service proposed limiting the export of gold to individuals – Kommersant

The Federal Customs Service (FCS) proposed limiting the export of gold by individuals. This was announced by Deputy Minister of Finance Alexey Moiseev during a plenary meeting in the State Duma. According to him, the measure is due to budget damage from illegal gold trafficking.

“A whole range of measures are being taken here. First, this is a bill that is currently being considered, I hope it will be supported. A decision was also made to limit the export of scrap and waste. As a rule, the gold concentrate that occurs in such cases is exported under the guise of scrap and waste,” explained Mr. Moiseev.

According to him, we are also talking about an electronic marking system and “traceability of illegal gold.” “This set of measures, in my opinion, should lead to a significant reduction in illegal trafficking,” said Alexey Moiseev.

At a meeting of the State Duma, the Deputy Minister of Finance mentioned bill on strengthening penalties for illegal trafficking in precious metals, including confiscation of funds and property obtained as a result of the violation. The explanatory note states that 5–6 tons of gold enter illegal circulation annually. Damage to the economy due to illegal mining is estimated at more than 2 billion rubles. in year. During the meeting, the State Duma approved the bill in the first reading.

October 31, Russian government introduced temporary ban on the export of waste and scrap precious metals from November 1 of this year to April 30, 2024. Prior to this, a similar ban was in effect from March 20 to September 20 of this year.

Lusine Balasyan