EconomyOnly 22% of Russian gold is consumed domestically
Domestic consumption accounts for 22% of Russia’s annual gold output, while 78% is exported, according to a presentation by Sergey Kashuba of the Russian Union of Gold Producers. Production has risen 87.8% in 15 years, but domestic demand grew only 9%. Changes in Turkey, the UAE and India, along with EU sanctions, are narrowing export destinations.
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TASS★★☆☆☆2026-09-22 11:32Original
Only 22% of Russian gold is consumed domestically