Good Delivery

Russian Good Delivery Bars Information

The LBMA Good Delivery Lists for Gold and Silver represent those refiners who meet the requirements and standards required by the London Market. Many participants involved in the physical global market rely on these standards; it is imperative that any challenges to the credibility of gold and silver bars circulating in the Market are addressed.

A timeline of sanctions, with links to the relevant parties, can be found lower on this page.

Guidance for all Market Participants

LBMA holds the production details of Good Delivery Bars produced by the six suspended Russian Refiners, including current bar information and latest serial numbers. Further guidance on whether a bar is acceptable or not is available here.

The Former Lists on the LBMA website contains the details of the suspended Russian Refiners including the Brand Mark at date of transfer.

All stocks of Russian bars that were already in the Loco London and Loco Swiss markets prior to 7 March, 2022 remain Good Delivery. The clearing bank supplying bars will attest that any Russian bars included in a shipment conform and a written statement using an approved LPMCL template can be provided on request if required. It should be noted that the unallocated account agreement specifies that the account provider is only permitted to give good delivery bars to fulfil its obligation to the account holder.

The use of Cyrillic markings does not necessarily mean Russian origin. Refiners who use Cyrillic characters in the bar markings can be found on the Current Lists (i.e. regions such as Kazakhstan and Uzbekistan).

N.B. All stocks from refiners on the Former List that were in the Loco London and Loco Swiss markets prior to the date of transfer, remain Good Delivery.


July 03, 2023, UK Government introduces licensing considerations that apply to the import of silver.

June 27, 2023, US Department of the Treasury updated OFAC's list of Specially Designated Nationals and published Africa Gold Advisory.

August 4, 2022, Switzerland Sanctions prohibits the importation, purchase and transportation (including any services related thereto) of Russian gold (irrespective of the production date) exported from Russia on or after 4 August 2022.

August 3, 2022, Switzerland adopted the EU Sanctions imposed on 21 July 2022.

July 22, 2022, EU Sanctions prohibits the direct or indirect purchase or transfer of gold that originates in Russia.

June 26, 2022, UK, Canada, US and Japan Sanction Russian Gold Exports.
All new Gold originating from Russia is sanctioned by the USA, UK, Canada and Japan.

March 07, 2022, Gold & Silver Russian Refiners Suspended.
Bars produced from this date are no longer Good Delivery.