Covered in this Briefing Note:

Since the invasion of Crimea in 2014 Russia has expanded it gold reserves in a bid to protect the rouble against future depreciation. These gold reserves have taken centre stage following Putin’s February invasion of Ukraine, providing a safe-haven currency, a bolster to the rouble, and a means of moving assets out of Russia.

Read this blog to learn about Putin and the Wagner Group’s efforts to source illicit gold in East and Central Africa and the role of Dubai and other gold trading hubs in sanitising illicit gold - from Sudan to Siberia - for use on the global market.