Russian banks have accelerated the export of gold from the country

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www.vsyako.netPhoto: Ilya Naymushin / Reuters

In the past six months, the gold reserves in the Russian banks is consistently lower, while in spring the export of precious metal from the country has accelerated. This conclusion follows from the statistics of the Central Bank of Russia, writes owned by Grigory Berezkin the RBC.

With Jan on the balance sheet of credit institutions was almost 16,82 tonnes of gold less. In monetary terms, the gold reserves rose in March, but it was due to the rising cost of the precious metal on world markets.

In physical terms, according to analysts of the Bank BKF Maxim Osadchy, the export continued. In April, exports grew by 15 percent, so the amount of gold dropped by 4.6 tons to 73,4 tons. Agree with this and the rating Agency of the NKR.

According to experts, gold is associated with high demand and rising prices, which, coupled with devaluation of the ruble made the transaction particularly advantageous.

National financial Association (NFA) has indicated that from 1 April, the Central Bank stopped buying gold, and this means that to sell it was only possible to foreign buyers. While the problems with air transportation worldwide, resulting from pandemic coronavirus, complicated export.

The President of NFA Vasily Zablotsky has told that banks use to export operations of special flights, Charter flights, valuable cargo, which operate from mid-April, as well as passenger liners.

Previously, the Russian government lifted restrictions on the export of gold for manufacturers. They allowed the export of precious metal in the presence of a General license, that is to bypass the banks.

Video, photo All from Russia.

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