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Russian gold moves to Hong Kong
Hong Kong achieved a record-high import of Russian gold during the first seven months of 2026, reaching 112.7 tons, surpassing the 2025 record of 92.1 tons. This comes amid Western sanctions that have led to a decline in Russian gold exports to Western markets, prompting Moscow to redirect its exports to Asia, particularly China and Hong Kong. Russian gold bars account for about 15% of Hong Kong's non-monetary gold imports during this period, compared to 0.6% in 2021, with demand continuing to rise despite the sanctions imposed on European and American markets.
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