November 30, 2024 (sledstvie.info)
The Great Golden Road or from Russians to Armenians
Following the imposition of international sanctions against Russia, countries and companies began seeking ways to circumvent these restrictions, particularly in the gold trade. Armenia, Hong Kong, and the UAE have become key players in the scheme through which Russian gold continues to leave the country and enter international markets, despite the embargo.
Following the US ban on Russian gold imports in 2022, the flow shifted to countries not party to the sanctions. Armenia, thanks to the absence of export duties and its favorable geographic location, has become an important link for the re-export of Russian gold. (Pashinyan is a friend among strangers, a stranger among friends.) Since 2022, billions of dollars of “dirty” gold have been shipped from Russia to Armenia, from where it was then exported to the UAE, Hong Kong, and China.
Some of the major players in this process were companies affiliated with Armenian politicians and businessmen, such as Yerevan Jewelry Factory LLC (YJF), linked to the family of Khachatur Sukiasyan. Other major importers include Tibi Arm LLC and Diamond Standard, which imported Russian gold through shell companies. Interestingly, the imported gold does not remain in Armenia, either as jewelry or in banks. According to the country’s Customs Service, 64% of the $4.1 billion (59 tons) of gold exported from Armenia in the first half of 2024 was sent to the UAE, with the remainder going to Hong Kong and China.
Armbusinessbank (renamed AMIO Bank), which was affiliated with such well-known “bypassers” of anti-Russian sanctions as Vitaly Grigoryants and his partner Arsen Mikaelyan, was also directly involved in this scheme.
Other key links in the scheme include Hong Kong and Omani companies. Among them are VPower Finance Security, Holden International Trading Limited, and Taube Precious HK Limited, which facilitated the conversion and transportation of Russian gold using UAE shell companies such as Red Coast Metals Trading DMCC. These firms not only processed cryptocurrency payments but also handled gold logistics, thereby concealing its Russian origin.
These schemes continue to operate despite international sanctions, and the question remains: how do foreign banks and financial institutions continue to conduct transactions involving sanctioned goods? How do banks working with such companies circumvent restrictions? And most importantly, who is really behind these companies, and what hidden agreements ensure continued trade and gold laundering?
The difference between the sale of gold at reduced prices and its real market value ends up in the pockets of “unknown” intermediaries and companies, whose true beneficiaries can only be guessed at.
Credit: https://sledstvie.info/news/50529-velikij_zolotoj_putj_kak_rocsija_obhodit_sanktsii_cherez_armeniju