China imports 165t Russian gold in 3 quarters, bypassing Western sanctions

China has become the primary destination for Russian gold exports, importing at least 165 tons in the first three quarters of 2026, with one third sourced from Bank of Russia reserves. This trade circumvents Western sanctions on Russian gold, providing Moscow with a key revenue stream and undermining sanctions effectiveness. The scale and sourcing from central bank reserves indicate a deliberate sanctions-evasion channel.

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