Russia’s gold exports fell by 70% YoY, to 17.047 tons in 2018, the Assay Chamber at the Finance Ministry, which is responsible for state control over exports and imports of precious metals and stones, said in a report on February 19.
According to the finance ministry, Russia’s gold refineries increased output by 2.45%, to 314.42 tons.
The central bank bought 273.71 tons of gold to replenish foreign currency and gold reserves.
Russia exported 22.394 tons of gold in 2016, 39.413 tons in 2015, and 75.659 tons in 2014, according to the Assay Chamber. (Prime/Ukrainian metal)