• Russian gold exports to Switzerland point to a stealth buyer as the country's top refiners say they didn't import any

    1 day ago - By Business Insider

    Vladimir Putin and Roman Trotsenko. Mikhail Svetlov/Getty Images
    A trade group representing top Swiss refiners said they did not import any Russian gold, according to Bloomberg.
    In May, over three tons of gold was shipped from Russia to Switzerland, which was almost entirely marked for refining.
    But shipments frequently flow through the country's free-trade zones on their way to other destinations.
    A trade group representing top Swiss refiners said they did not import any Russian gold last month, raising questions as to who actually bought the goods. In May, over three tons of gold was...
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  • Russian commodities traders are scrambling to set up shop in Dubai after fleeing Switzerland

    1 day ago - By Business Insider

    Russian President Vladimir Putin. Mikhail Svetlov/Getty Images
    Russian commodities traders are fleeing Switzerland for Dubai, Bloomberg reported.
    Switzerland has ramped up sanctions on trading certain commodities, so Russian energy giants and others are moving.
    Execs from Russia's largest state-run oil firms have explored relocating or are in talks to relocate to Dubai.
    Thanks to war-time sanctions in Switzerland, Russian commodities traders who normally work within Swiss territory are rushing to set up business operations in Dubai. According to Bloomberg , Switzerland's ramp-up of...
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