“Russian precious metals sales to China hit $1 billion in 2025,” is the headline on an informative article by John Zadeh posted by InfoBRICS which explains that “Chinese imports of Russian precious metal ores and concentrates [are] surging by a remarkable 80% year-over-year to reach $1 billion in just the first half of the year.”
Zadeh notes that some of this increase is due to price appreciation (28% for gold in 2025; 59% for platinum; 38% for palladium), but the more significant trend is a result of U.S. sanctions against Russia, including the attempt to destroy their gold and other precious metals industries. The opposite has occurred.
“This trade surge represents a significant pivot for Russia’s precious metals industry since Western sanctions began restricting market access in 2022. With traditional trading routes through London and New York effectively closed, China has emerged as the primary destination for Russian metals, creating a new dynamic in global precious metals markets.”
