Finance Authority Suggests Gold Melting Prohibition
The Financial Monitoring Service (FTS) initially proposed restrictions on gold exports in Russia late in 2023. Since then, discussions have been ongoing, involving Russian government officials, financial regulators, and the Central Bank of Russia.
One of the key points of discussion has been stricter export controls and increased monitoring to prevent capital flight. In July 2025, Yuri Chikhanchin, head of Rosfinmonitoring, reported this issue to President Vladimir Putin.
The discussions have focused on limiting gold exports for private individuals, with no specific monetary ingots or weight mentioned, unlike an earlier decree. The decree, which is close to completion, will include monetary ingots, specifically in grams, including 100g.
Interestingly, the decree does not apply to gold in the form of jewelry. However, the service Rosfinmonitoring is considering restrictions on gold exports abroad due to its use for resale.
Alexei Guznov, Deputy Chairman of the Bank of Russia, has stated that any potential bans should be carefully considered. He believes that restrictions on physical persons exporting gold could negatively impact cross-border payments.
In a separate development, Alexei Moiseev suggested the possibility of restricting individual gold exports to the equivalent of $10,000, similar to cash foreign currency, in June 2025. However, the report did not mention any opposition or support from the Central Bank or Alexei Guznov at this point.
The Central Bank, however, opposes restrictions on gold exports for Russians. This stance is in line with Alexei Guznov's cautious approach to potential bans.
As the decree nears completion, it is expected to be submitted to the government within a few weeks, shedding more light on the future of gold exports in Russia for private individuals.
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