Russia to Hong Kong SAR China
Checked 2026-09-29
Public law and official guidance, published as research. Not legal, tax or financial advice.
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Russian gold moving to Hong Kong, which became the largest hub for Russian gold from 2023. No bilateral agreement found and no Hong Kong measure restricting Russian gold was found. Hong Kong recorded 58 t from Russia in 2024, and commentary reports close to 100 t in January-July 2026. The main exposure is US: in June 2024 OFAC designated three Hong Kong companies (one carrier, two payment routers) and a Hong Kong-based individual for laundering proceeds of Russian gold, and foreign banks face secondary sanctions for significant transactions with EO 14024-blocked persons.
How sure this page is
- Secondary 1
- Not recorded 1
- Not stated 1
Where practice departs from the law
What credible sources show happening that the law does not provide for.
Hong Kong replaced Dubai as the main destination for Russian gold after Western bans, and is a conduit onward to the Mainland.
SecondaryNot recorded
What we could not obtain
Documents the research needed and could not get, where they might be, and why.
No gaps recorded