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Gold

Uzbekistan to Switzerland

Checked 2026-09-22

Public law and official guidance, published as research. Not legal, tax or financial advice.

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UzbekistanSwitzerland

Uzbek refined gold (Central Bank of Uzbekistan reserve sales of NMMC/AMMC bars) moving to Switzerland, directly or via London. No trade agreement or bilateral gold instrument was found; Swiss treatment is ordinary (0% duty). Uzbekistan's export licensing is country-wide (uz module). Switzerland became a major buyer from October 2021; Swiss imports were 130 t in 2023 and 86.7 t in 2024, mostly bought by the financial sector, while Uzbekistan reports no gold exports. Swiss authorities reportedly cannot rule out Russian gold remelted in Uzbekistan.

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  • Unverified 1
  • Researcher's note 1

      Where practice departs from the law

      What credible sources show happening that the law does not provide for.

      • Switzerland records 87 t from Uzbekistan (2024) while Uzbekistan reports no exports; CBU reserve sales appear to be outside Uzbekistan's reported merchandise trade.

        Unverified

        Researcher's note: Inference by the pair researcher from the mirror figures; not stated by either statistics office.

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