Switzerland Buying Lots of Gold from Russia Despite Sanctions

More and more countries are just going to start ignoring these stupid sanctions.

Switzerland be all like: “Tell Uncle Sam to come bomb us.”


Trade volumes between Russia and Switzerland have surged since Ukraine-related sanctions meant to isolate Moscow were imposed, newspaper Tages Anzeiger has reported last week, citing Swiss customs data.

The outlet has found that Swiss exports, dominated by pharmaceutical products, have surged by 19%, while imports from Russia jumped by 54% since the beginning of the year.

Such a sizable growth in Russian exports was reportedly due to an increase in shipments of gold, which is subject to specific sanctions in Switzerland. In August, the country joined EU restrictions banning trade of Russian gold and gold products, which apparently had little impact on imports of the metal from the sanctioned country, the outlet has said.

According to Swiss customs service data, 6.4 tons of gold worth CHF344 million ($370 million) arrived from Russia in November. The identity of the buyer, however, was unclear. The outlet suggested that much of the gold has entered Switzerland, itself a major global hub for processing the precious metal, via third countries and allegedly from Dubai.

Russia won the sanctions war in one of the greatest geopolitical victories in all of history. This was the big US weapon – in some ways bigger than their military, even. And it didn’t work.

Now all Russia has to do is win the war in the Ukraine. It’s clear they can do that, but the US also has the option of totally escalating it into a global nuclear conflict. They seem very open to this option, based on statements we’ve heard from various think-tanks and even state officials.