Switzerland, a leader in gold refining, bans Russian gold imports | World News,The Indian Express

The European Union in July banned imports from Russia of newly minted and refined gold, following similar announcements by the United States, Britain and other Group of 7 countries in June.

Written by Vjosa Isai

Switzerland on Wednesday banned imports of Russian gold and gold products, on the heels of similar moves by the European Union and the United States.

The Federal Council, the Swiss government’s seven-member executive board, said in a statement that the gold ban aligned with the European Union’s latest sanctions on Russia in response to its invasion of Ukraine and that Switzerland was “implementing the most urgent measures in terms of time and substance.”

The council added that it had frozen the assets of Russia’s state-owned bank Sberbank, after imposing sanctions last month on dozens more individuals and organizations on the European Union’s sanctions list.

“Switzerland’s list of sanctioned persons and entities in connection with the situation in Ukraine is thus fully in line with that of the EU,” the council said.


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