Allies, Axis, banking, banks, Bulgaria, dirty money, export of Russian gold, gold, gold bars, gold coins, gold facilities, gold laundering, gold sales, gold storage, Goldimporte russischer Herkunft, Hitler, Holocaust, import of Russian gold, importance of sanctions, jewelry, mafia, military, military alliances, Money-laundering, Nazi Banks, Nazi Germany, Nazi gold, Nazi plunder, neutrality, nuclear weapons, Potanin, protection, Putin, Putin's Russia, Putin’s children, Russian gold, Russian invasion Ukraine, Russian oligarchs, sanctions, small countries, stolen gold, Sweden, Swiss Federal Office for Customs and Border Security, Swiss money-laundering act, Switzerland, Third Reich, trade, trading restrictions, Turkey, UK, World War II
Why did the UK allow the export of the Russian origin gold to Switzerland? Who owns the gold? Not all oligarchs have been sanctioned. Vladimir Potanin has not been sanctioned. Was Gazprombank sanctioned in May? Does Putin have children in Switzerland?
Will the gold be re-exported or stored in private gold facilities in Switzerland or sold? It cannot be re-exported from Switzerland to Russia. However, it could be sent to Russia via another country.
These questions remain unanswered.
Sanctions could have prevented, or limited, the Russian invasion of Ukraine and have prevented World War II, or limited its duration. However, the sanctions have never been tight enough and there are always countries that are willing to work with evil regimes for their self-protection, or profit, under the guise of neutrality.
Small countries, especially those lacking nuclear weapons, must either enter into defense pacts or depend upon things like laundering dirty money for their self-protection.
Nonetheless, the UK appears the main problem in this instance. They have access to both nuclear weapons and are in NATO. They have no excuses.
If the UK hadn’t exported the gold, then Switzerland couldn’t have imported it. On the other hand, if Switzerland wouldn’t have taken the gold would the UK have been able to export it elsewhere?
During World War II, the laundering of gold stolen by the Nazis, in conjunction with providing the Nazis with supplies, shows the need for thorough, air-tight, sanctions. With thorough sanctions World War II would have been shortened, and perhaps avoided altogether. Some interesting excerpts of “Holocaust-Era Assets Finding Aid, Military Agency Records, Interallied and Interservice Military Agencies Records, Records of the Office of Strategic Services (RG 226) Records of the Research and Analysis Branch, “Regular” Intelligence Reports (Entry 16) File #, Subject, 60459”: “Nazis are evacuating whole factories to Switzerland, and are sending materials there for re-export to Spain. Goering representatives make deposits in Swiss banks (named), but Swiss bankers are told to be watchful about attempts to deposit looted wealth. The Nazis withdraw money from a German bank. Freiburg bankers place money and securities in the Swedish consulate at Karlsruhe. 2 pp. October 1944” One month earlier one reads: “Swiss banks are embarrassed to have much stolen gold, and are trying to sell it. Three banks which have received Nazi stolen gold, and bonds are named (S.A. Leu & Co., Credit Suisse, and Societe de Banque Suisse). 1 p. Sept. 1944” Clearly the Swiss knew Nazi Germany was losing and wished to clean their hands. Thus, an apparent shift with Freiburg Germany bankers keeping their money in the Swedish consulate. Also of note: “The Axis governments (especially Germany), and also Switzerland, for some time have been sending gold into Turkey via their diplomatic pouches. Turks are paying a small premium for gold. The real profit comes when it is smuggled back into Bulgaria, Rumania, and Hungary. In these countries, faith in paper money is notably lacking. Sovereign can be bought in Istanbul for ltq 36, and sold in Bulgaria for 7,000 levas. There is a ring of smugglers who deal with the diplomats. It is noticeable that all Axis, Swiss, and Swedish government employees in Turkey live beyond their known means. 1 p. Feb. 1944” https://miningawareness.wordpress.com/2017/01/03/nazi-gold-laundered-through-turkey-banking-trade-intermediary-roles-of-switzerland-spain-portugal-and-others/ Some Swiss companies continued to do business with Nazi Germany, even as it was clear that they were losing, suggesting that they were incentivized by profits.
No information can be given about the importers, but what about the UK exporters?
“1:13 p.m.: Swiss customs authorities said Friday that they are tracking about 3 tons of gold of Russian origin that entered Switzerland from Britain last month to watch for potential violations of economic sanctions against Russia following President Vladimir Putin’s war on Ukraine… The gold is worth 194 million Swiss francs ($202 million), officials said. The Federal Office for Customs and Border Security said it consistently monitors imports of gold from Russia, which it said are not prohibited under a raft of Swiss sanctions against Moscow imposed over Russia’s February 24 invasion of Ukraine. However, exports of gold to Russia are barred under Switzerland’s sanctions, the customs office said in a statement. Gold bars manufactured in Russia since March 7 can not be traded in Switzerland, but ones created before then can, the office said. There are no commercial restrictions in Switzerland on other forms of gold, such as jewelry or coins, from Russia, the office said”. https://www.voanews.com/a/latest-developments-in-ukraine-june-24/6631142.html
Unofficial translation of the original news release in German:
“Gold imports of Russian origin
Bern, 06/24/2022 – In May 2022, around three tons of gold with designation of origin Russia were imported from the United Kingdom to Switzerland. For legal reasons, no information can be given about the importers of the gold. However, the Federal Office for Customs and Border Security checks the affected imports.
The Federal Office for Customs and Border Security (BAZG) is constantly monitoring the situation regarding gold imports from Russia. In May 2022, around three tons of gold originating in Russia and worth CHF 194 million were imported from the United Kingdom to Switzerland. The BAZG checks the affected imports with regard to the applicable sanctions.
The import of gold from Russia to Switzerland is not prohibited according to the regulation on measures related to the situation in Ukraine. On the other hand, the export of gold to Russia is prohibited under the applicable sanctions regulation.
All bars produced by Russian refineries after March 7, 2022 may no longer be traded in Switzerland. In principle, however, bars produced by Russian refineries before March 7, 2022 can continue to be traded.
There are basically no trading restrictions for gold in other forms (jewellery, gold coins).” https://www.admin.ch/gov/de/start/dokumentation/medienmitteilungen.msg-id-89456.html )
“Federal Department of Finance FDF
Federal Office for Customs and Border Security BAZG
Communication Taubenstrasse 16, 3003 Bern Tel. +41 58 462 67 43 email@example.com http://www.bazg.admin.ch
questions and answers
Date: June 24, 2022
Gold imports of Russian origin
In May 2022, around three tonnes of gold with designation of origin Russia were imported from the United Kingdom to Switzerland. For legal reasons, no information can be given about the importers of the gold. However, the Federal Office for Customs and Border Security checks the affected imports.
The Federal Office for Customs and Border Security checks the import of these around three tons of gold. How is this check done?
The BAZG checks whether the gold bars were manufactured before March 7, 2022. The BAZG carries out the examination of whether the gold is connected to sanctioned persons within the scope of its competence. In the case of imports by banks, refineries or other economic operators from the financial sector, they are obliged to carry out a relevant check under the Money Laundering Act.
Why hasn’t the country of origin changed when the import of the three tons of Russian gold went through the UK?
The country of origin principle applies to the Swiss foreign trade statistics, i.e. the country in which the goods were completely obtained, manufactured or the last essential processing was carried out is recorded. This means that in the present case the gold was processed in Russia for the last time. If this approximately three tons of gold was produced before March 7, 2022, can it then be sold?
Bars produced by Russian refineries before March 7, 2022 can, in principle, continue to be traded. Swiss financial institutions are obliged to check whether the gold is marketable and whether sanctioned persons are involved. What happens if the gold is made after March 7th? The suspension of all previously recognized Russian refineries (gold and silver) effective March 7, 2022 (Unofficial translation of questions and answers. Original found here: https://www.newsd.admin.ch/newsd/message/attachments/72196.pdf )
“Goldimporte russischer Herkunft
Bern, 24.06.2022 – Im Mai 2022 wurden rund drei Tonnen Gold mit Herkunftsbezeichnung Russland aus dem Vereinigten Königreich in die Schweiz importiert. Aus rechtlichen Gründen dürfen keine Angaben zu den Importeuren des Goldes gemacht werden. Das Bundesamt für Zoll und Grenzsicherheit überprüft jedoch die betroffenen Einfuhren.
Das Bundesamt für Zoll und Grenzsicherheit (BAZG) beobachtet die Lage betreffend Goldimporten aus Russland laufend. Im Mai 2022 wurden rund drei Tonnen Gold mit Ursprungsland Russland im Wert von CHF 194 Mio. aus dem Vereinigten Königreich in die Schweiz importiert. Das BAZG überprüft die betroffenen Einfuhren in Bezug auf die geltenden Sanktionen.
Der Import von Gold aus Russland in die Schweiz ist gemäss der Verordnung über Massnahmen im Zusammenhang mit der Situation in der Ukraine nicht verboten. Hingegen ist der Export von Gold nach Russland laut geltender Sanktionsverordnung verboten.
Sämtliche ab dem 7. März 2022 von russischen Raffinerien hergestellte Barren dürfen in der Schweiz nicht mehr gehandelt werden. Barren, die vor dem 7. März 2022 von russischen Raffinerien hergestellt wurden, dürfen jedoch grundsätzlich weiter gehandelt werden.
Für Gold in anderer Form (Schmuck, Goldmünzen) bestehen grundsätzlich keine Handelsrestriktionen.” https://www.newsd.admin.ch/newsd/message/attachments/72196.pdf