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

LONDON, May 25 (Reuters) – 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. China and Turkey were the next biggest destinations, importing about 20 tonnes each between Feb. 24, 2022 and March 3, 2023. With the UAE, the three countries…