Russian gold refineries seek access to Shanghai Gold Exchange

MOSCOW. Oct 19 (Interfax) - Russian gold refineries and relevant ministries are holding negotiations on gaining access to trading on the Shanghai Gold Exchange, the director of regulation of the precious metals and precious stones sector at the Finance Ministry, Yulia Goncharenko said.

"...We tried to hold negotiations, including to get on the Shanghai exchange with our refining enterprises, through the Ministry of Foreign Affairs of Russia, through our colleagues from the Industry and Trade Ministry. And essentially this process is underway and concluding so that our refining enterprises can get on, trade on the Shanghai exchange," Goncharenko said at a meeting in the Federation Council on regulation of the gold market.

Russian banks VTB , Otkritie and Sberbank , as well as the National Clearing Center (NCC) and Moscow Exchange are currently members of the Shanghai Gold Exchange.