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Reuters
Reuters
Business
By Peter Hobson

Exclusive-From Russia with gold: UAE cashes in as sanctions bite

FILE PHOTO: A woman walks past gold jewellery displayed in a shop window at the Gold Souq in Dubai, United Arab Emirates March 24, 2018. REUTERS/Christopher Pike/File Photo

The United Arab Emirates has become a key trade hub for Russian gold since Western sanctions over Ukraine cut Russia's more traditional export routes, Russian customs records show.

The records, which contain details of nearly a thousand gold shipments in the year since the Ukraine war started, show the Gulf state imported 75.7 tonnes of Russian gold worth $4.3 billion - up from just 1.3 tonnes during 2021.

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