The Swiss Association of Manufacturers and Traders of Precious Metals (AFCMP) has become aware of concerns regarding the quantities of gold that appear to have been imported from Russia in May 2022, after the start of the conflict between Russia and Ukraine.

After contacting its members, the ASFCMP confirms that none of its members are responsible for these imports.

Although Swiss legislation and sanctions do not prohibit the import of Russian gold into Switzerland, the ASFCMP would like to reiterate that dubious gold has no place in Switzerland and that it expects its members to act with the utmost caution and to refrain from buying in case of doubt. Therefore, and in this regard, the ASFCMP is convinced that none of the major Swiss refineries have accepted this gold.

The ASFCMP will continue to monitor the development of import statistics.