Russian gold being exported

[Contrarian]

https://en.topwar.ru/191608-kuda-i-kak-realno-ushlo-russkoe-zoloto.html

[andrewfi]

More accurately, gold mined in Russia.

Until recently, all gold mined in Russia was purchased by the state. It seems that they no longer want to buy all of it. So, what're they going to do about it. Can't exactly stop mining.

The more interesting point is the one about how gold is being exported in a fairly unregulated manner - according to the article's writer. If the value of the sales of gold mined in Russia and exported is not repatriated there is something a little odd and one wonders what the rationale might be. For sure it is neither oversight nor accident.

[Wiz]

More accurately, gold mined in Russia

Until recently, all gold mined in Russia was purchased by the state. It seems that they no longer want to buy all of it. So, what're they going to do about it. Can't exactly stop mining.

The more interesting point is the one about how gold is being exported in a fairly unregulated manner - according to the article's writer. If the value of the sales of gold mined in Russia and exported is not repatriated there is something a little odd and one wonders what the rationale might be. For sure it is neither oversight nor accident.

I read this fairytale article, and wonder. Are the gold mining companies private or Nationalised in Russia?

Not many details were given so I can understand what exactly is going on....so I gave up 3/4 of reading the article. Made a quick check and no ownership or anything can be found.

The way is presented this article it could be very easily a disinformation site or propaganda against teh Russian gov. and especially against Putin and hinds about transporting the gold to the Bank of England.

Either way not very interesting reading for me!

[andrewfi]

Wiz, Russian gold mines are privately owned and run. However, the Russian State has, for many years, had the first option to purchase all gold produced.

The writer seems to be trying to make a point, but, perhaps by virtue of poor translation, he hasn't done a very good job. I get the impression he is trying to suggest corruption in some form but his writing is not very clear.

[Contrarian]

More accurately, gold mined in Russia.

Until recently, all gold mined in Russia was purchased by the state. It seems that they no longer want to buy all of it. So, what're they going to do about it. Can't exactly stop mining.

The more interesting point is the one about how gold is being exported in a fairly unregulated manner - according to the article's writer. If the value of the sales of gold mined in Russia and exported is not repatriated there is something a little odd and one wonders what the rationale might be. For sure it is neither oversight nor accident.

The last two sentences you wrote are what I thought was odd. Someone can sell it overseas and then keep the profit in a Western bank. That is what I did not understand. Is this correct or is it disinformation? Does it matter?

I would think the Russian government would want all or most of the proceeds to remain in Russia.

[AvHdB]

Certainly an odd article, almost like Wiz and Texan collaborated.

From the article there is one strange passage, that is startling. Any idea if this is truthful?

The gold reserve of the Russian state is administered by the Bank of Russia, which is not a Russian bank. This, let me remind you, is a legal entity about which we know nothing. No authorized capital, no property, no founders.

[Contrarian]

Certainly an odd article, almost like Wiz and Texan collaborated.

                    

[andrewfi]

More accurately, gold mined in Russia.

Until recently, all gold mined in Russia was purchased by the state. It seems that they no longer want to buy all of it. So, what're they going to do about it. Can't exactly stop mining.

The more interesting point is the one about how gold is being exported in a fairly unregulated manner - according to the article's writer. If the value of the sales of gold mined in Russia and exported is not repatriated there is something a little odd and one wonders what the rationale might be. For sure it is neither oversight nor accident.

The last two sentences you wrote are what I thought was odd. Someone can sell it overseas and then keep the profit in a Western bank. That is what I did not understand. Is this correct or is it disinformation? Does it matter?

I would think the Russian government would want all or most of the proceeds to remain in Russia.

To be honest, I have a limit to my time. I can't be arsed to check out the minutiae. That's stuff about State policy that I do not know about. The article is not important to me. It is badly written, does not make a clear point and is not worth my time.

[Wiz]

Wiz, Russian gold mines are privately owned and run. However, the Russian State has, for many years, had the first option to purchase all gold produced.

The writer seems to be trying to make a point, but, perhaps by virtue of poor translation, he hasn't done a very good job. I get the impression he is trying to suggest corruption in some form but his writing is not very clear.

Andrew thanks for your help....because i thought the article was a bit iffy, but now after your explanations I get the picture and now must listen to the clowns and funny people of the board entertaining the kids and making snide remarks as they have nothing of any interest to say!

Do you know the real state of affairs with the Bank Of Russia? I read somewhere that Pu tin , after the departure of Mikhail Khodorkovsky, he banned  J. Rothchild never to be allowed in Russia! I wonder if the last one is true!