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Customs sees soaring gold bullion exports from Russia

Gold is likely to become a more popular means of payment, considering Western sanctions and currency restrictions, Ruslan Davydov assumed

KAZAN, December 8. /TASS/. Russia’s Federal Customs Service has registered exponential growth in gold bullion exports from the country, acting customs chief Ruslan Davydov told reporters.

"A passenger declaration for gold is not necessary if individuals export it," Davydov said. "Nevertheless I can say, fundamentally from what we see, what we register, there is an exponential rise in the export of gold in bars. We record facts of violations. When schemes are used where gold is taken under the guise of exporting to circumvent customs control to a country of the Eurasian [Economic] Union. And then it is transferred in the secure zone <…> onboard an airplane flying outside the Union," the customs chief said.

Gold is likely to become a more popular means of payment, considering Western sanctions and currency restrictions, Davydov assumed.

"Sanctions were imposed on the sale of Russian gold by legal entities. Therefore, attempts are probably made to carry such gold for commercial purposes using individuals, so-called couriers," he added.