Russia Sold UK Gold for a Record $ 5 Billion
For comparison, in 2018, the United Kingdom bought gold from Russia only for $ 433 million, in 2017 - for $ 1.1 billion. In physical terms, gold exports from Russia to the United Kingdom in 2019 increased 11 times - from 10.4 tons to 113.5 tons. Supplies to the UK account for 93% of all Russian gold exports in 2019 (total of Russia exported $ 5.74 billion of gold, against $ 706 million in 2018). 12 other countries, including Kazakhstan and Switzerland, bought it for only $ 409 million.
Gold has become the largest article of Russian merchandise exports to the UK - more than purchases of oil and petroleum products (in the amount of about $ 3.4 billion). But in addition to gold, Russia also increased the export of platinum (doubled to $ 936 million) and silver (2.5 times, to $ 100 million).