The Federal Customs Service recorded a multiple increase in the export of gold bars from Russia

The Federal Customs Service (FCS) records a multiple increase in the export of gold bullion. Often, “gray” schemes are used to export bullion. This was announced by the acting head of the Federal Customs Service Ruslan Davydov after a meeting of the board of customs services of the member states of the Customs Union.

“A passenger declaration for gold is not issued if individuals export it. But I can say that, in principle, from what we see, from what is recorded, there is a multiple increase in the export of gold bullion,” said Ruslan Davydov. He admitted that, given sanctions and currency restrictions, gold is increasingly being used as a means of payment.

“Sanctions have been imposed on the sale of Russian gold by legal entities. Therefore, they are probably trying to transport this gold for commercial purposes using individuals, so-called couriers,” added the service representative. The head of the Federal Customs Service also said that Russian customs officers carried out an operation to seize 243 kg of gold.

Due to a jump in gold exchange prices, Russians began to buy more gold jewelry: according to the 585*Golden study, sales of gold bracelets and heavy chains in the fall increased year-on-year by more than 80% and 50%, respectively. Since the beginning of the year, the physical volume of gold transactions on the Moscow Exchange has increased 2.68 times (+167.65%) compared to the same period last year – up to 73.9 tons.

Anastasia Larina