June 26, 2022

UK, Canada, US and Japan Sanction Russian Gold Exports

LBMA acknowledges the UK Government’s announcement today, alongside Canada, US and Japan, and looks forward to receiving further details including the timetable for imposition of the new rules. In particular, we note that the intention is for these rules to apply only to new gold of Russian origin, not to old production (which remains Good Delivery). We believe this will help to maintain an orderly market. The date of new and old production will be communicated at a later date, once we get further clarity from the UK government.