Imposing sanctions, but Switzerland caught importing 3.1 tonnes of Russian gold

BERN – Swiss caught importing 3.1 tons it’s not from Russia even though the European country imposed sanctions on Moscow for its war in Ukraine .

Local Customs said it was tracking 3.1 tonnes of Russian gold worth US$202 million (more than 2.9 trillion) that entered Switzerland from the UK last month. That was done to keep an eye on potential violations of economic sanctions against Russia.

Officials are investigating imports of 3.1 tonnes of Russian gold in May, the first since the Kremlin sent troops to Ukraine on February 24.

The Federal Office for Customs and Border Security said it consistently monitors imports of gold from Russia, which it says is not prohibited under a series of Swiss sanctions against Moscow imposed over the Russian invasion.

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It said in a statement that for legal reasons it could not say who imported Russian gold from the UK.

“About three tonnes of gold that came from Russia and worth USD202 million was imported from the UK to Switzerland,” said the Federal Office for Customs and Border Security.

“It is examining the affected imports in light of applicable sanctions,” the office continued, as quoted from Al JazeeraSaturday (25/6/2022).

Switzerland is actually a neutral country, not even a member of the European Union. However, it has adopted almost all EU sanctions against Russian companies and individuals.

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