29 January 2026Russia ramped up gold exports to China in 2025, sending 25.3 tonnes – nine times more than in 2024. Source: Foreign Intelligence Service of Ukraine (FISU)Details: In monetary terms, exports rose to US$3.29 billion compared with just US$223 million the previous year. Exports were mostly in gold bars, which facilitates rapid monetisation of assets. Quote: “The growth in exports occurred in parallel with a sharp decline in Russia’s domestic gold reserves. China may have actually purchased 10 times more gold last year than officially reported.