CNBC reported record deliveries of Russian gold to Hong Kong: Russian gold supplies to Hong Kong reached a record 113 tons
Hong Kong imported 112.7 tons of Russian gold from January to July. The volume exceeded the figures for the entire previous year (92.1 tons) and the level of 2021, which was only 3.3 tons, was tens of times higher.
Hong Kong imported 112.7 tons of Russian gold from January to July. The volume exceeded the figures for the entire previous year (92.1 tons) and the level of 2021, which was only 3.3 tons, was tens of times higher. This writes CNBC with reference to the study of the investment company BullionVault, which studied the data of the Department of census and statistics of Hong Kong.
Russian gold accounted for nearly 15 percent of Hong Kong’s total non-monetary gold imports in the first seven months of this year. In 2021, the share was 0.6%. According to BullionVault, before the conflict in Ukraine, the Russian gold mining industry focused on the UK. From 2019 to 2021, gold exports from Russia to Britain accounted for about two-thirds of total mine production.
A significant portion of Russia’s gold is now going to mainland China. China has not imposed sanctions on Russian gold and provides direct access to the world’s largest market for the consumption of this metal, analysts polled by CNBC noted. According to S&P Global, official gold reserves in China rose by more than 40 tons in the first half of 2026, more than double the volume of purchases a year earlier.
