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UK sanctions gold and oil traders in new Russian clampdown
By Jonathan Browning
Bloomberg News
Wednesday, November 8, 2023
The UK government today targeted Russian gold miners, the largest refiner, and a Dubai-based trader involved in routing funds to Moscow as part of a package of fresh sanctions tied to the country's gold and oil sectors.
The UK sanctioned Nord Gold and Highland Gold Mining Ltd. alongside Krastsvetmet JSC, the biggest precious metals refinery in Russia.
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They were sanctioned together with more than two dozen other individuals and companies, including oil trader Paramount Energy & Commodities DMCC, which was accused of using deceptive practices to avoid sanctions.
The government also targeted a United Arab Emirates-based network that it says channeled $300 million of gold sales to Russia. ...
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