Russian gold floods Hong Kong after Western sanctions
Russian gold shipments to Hong Kong have soared this year, with the Chinese territory emerging as a major trading hub for bullion that is sanctioned in the West.
Russia's gold shipments to Hong Kong have surged this year, with nearly 100 tonnes imported up to July, almost triple the amount from the same period in 2025. This increase is part of a broader trend of Asian centers competing for a larger share of the global gold trade, traditionally dominated by London, New York, and Dubai. Hong Kong has positioned itself as a key hub for gold trading, with China being the world's largest producer and consumer of gold.
Since early 2022, Hong Kong entities have purchased Russian gold worth $35 billion. Most of the gold entering Hong Kong is eventually exported to mainland China.
Written by urgent.news from Expansion ES's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
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