Russia becomes UAE’s top gold supplier – Bloomberg ...News

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Russia becomes UAE’s top gold supplier – Bloomberg
Bullion sales to the Arab nation boomed in 2022 due to Western sanctions The UAE has been snapping up Russian gold at an unprecedented pace since Western countries banned imports, Bloomberg reported on Wednesday, citing the UN’s Comtrade database. Statistics showed that the Gulf state imported 96.4 tons of gold from Russia in 2022, becoming its largest buyer. The volume represented about a third of Russia’s total annual gold production. It was also a more than fifteenfold year-on-year increase in the Arab nation’s gold imports from Russia. Bloomberg noted that prior to the start of Russia’s military operation in U

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