Restrictions imposed on gold exports in Russia

Russian President Vladimir Putin has imposed restrictions on gold exports. With the decree signed by Putin, it is now prohibited to take more than 100 grams of gold out of Russia to other countries.

Individuals or legal entities will only be able to export more than 100 grams of gold from airports in the capital, Moscow, and the city of Vladivostok on the Chinese border, provided they have an official permit obtained from the Russian mint. According to the published decree, the restrictions on refined gold exports will begin on May 1.

Putin also signed a decree imposing restrictions on the removal of 100,000 dollars or an equivalent amount in rubles to countries that are members of the Eurasian Economic Union (EAEU) (Armenia, Belarus, Kazakhstan, and Kyrgyzstan).

According to the decree, it will no longer be possible to transfer more than 100,000 dollars to EAEU member countries with which there is a free trade agreement, except under certain conditions. This restriction will come into effect on April 1.

Russian Deputy Prime Minister Alexander Novak had previously stated in comments to the Russian press that restrictions on gold exports could be introduced to prevent the informal economy and capital flight.

News Source: 12punto