27 Jun 2022 13:28

Russia may redirect precious metal exports - Peskov

MOSCOW. June 27 (Interfax) - Moscow views the plans of certain Western countries to ban Russian gold imports as unlawful, and believes it can redirect the supplies of precious metals, Kremlin spokesman Dmitry Peskov said on Monday.

"The precious metal market is global, it is quite large, capacious and very diverse. Same as it happens to other commodities, indeed, whenever a market stops being attractive due to illegal decisions, the commodities are redirected to where they are in demand and where the economic decisions are more comfortable and lawful," Peskov said in response to a journalist's question on how Moscow would assess the plans of the UK and some other countries to ban Russian gold imports and whether Russia will turn to other markets in this case.

According to a statement published by British Prime Minister Boris Johnson's office on Sunday, the leaders of the United Kingdom, the United States, Japan and Canada are set to declare a ban on Russian gold imports at the G7 summit in Germany on June 26-28.