Major Russian Lender Receives Gold Export License as Sanctions Bite

May 23, 2022 11:10:10

Earlier last week, the Credit Bank of Moscow received a license to export gold from the federal government. This move will make this particular financial institution the latest bank in Russia to involve itself in the trade of precious metals in an effort to counteract the effect sanctions have had on the country.

The primary operators in the Eastern European country’s gold market — Bank VTB and…

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