Switzerland shipped more than 3 tons of gold from Russia last month. The purchase represents about 2% of Swiss bullion imports in May 2022. The country is a key refining hub that handles two-thirds of the world’s gold.
Following the start of Moscow’s military operation in Ukraine and the rollout of international sanctions, the London Bullion Market Association suspended all Russian gold and silver refineries from its list of approved suppliers.
The move was viewed by the industry as a de facto ban and most refiners refused to accept new gold from Russia, but the largest gold refiner on Earth so far ignored Zionist sanctions against Moscow.
This comes as the precious metal has been flagged as a possible new target for sanctions against the Kremlin. According to a Reuters report on Tuesday, EU leaders want to keep up pressure on Russia as they gather for a summit this week.
It is not clear if Switzerland, which is not part of the EU, will comply with the possible ban on Russian gold. But one never knows how the cards stack up when the two most corrupted nations on this planet confront each other.
In a brief interview with Michael McCrae of Kitco Mining, Matterhorn Asset Management principal, Matthew Piepenburg, addresses the interacting ramifications and core themes of the 2022 market economy to date.
Turning toward gold, reminds us that this precious metal is among one of the very few loyal and anti-fragile assets of 2022 which has protected investors from the jarring volatility otherwise symptomatic of the dying bull market in traditional risk assets. like stocks, bonds and property.
As for gold, Matthew explains why its bull cycle is only just beginning. Finally, when asked how investors should prepare for the volatility and markets ahead, Matthew offers insights on what assets to embrace and what strategies to avoid.
RT. com / ABC Flash Point Mineral News 2022.
Switzerland needs to quickly realise the future is nearing and it may be better not to put all the eggs in one basket. The EU is having lots of problems and this is before the winter arrives. The EUUSUK maintain through their MSM they want peace, then they want Ukraine to win, then supply weapons, then sanction Russia as though they have the right to order the world to support their terrorism and blackmail. The EU has welcomed back coal plants because it can’t possibly control its spite and be seen giving money for services and products to Russia. This… Read more »
Russia is crazy trading finite gold for FIAT currency which is theoretically infinite. Switzerland is pretty smart though.
Crisscross politics to create a hole in the ongoing sanctions against the truth?
When gold mines make their gold bars they are huge called Big bars and not purified. Two or three mints in Switzerland buy these big bars and melt them down and purify them then make them into smaller exact weight and purity bars of various sizes for sale too banks , businesses and retail shops. There is an international standard size and weight that banks buy which I think offhand are 4 or 500 oz bars.