Russia's VTB aims to supply up to 100 tonnes of gold to China per year

By Oksana Kobzeva and Polina Devitt
Reuters
Tuesday, April 26, 2016

MOSCOW -- VTB Bank, Russia's second-largest lender, aims to supply between 80 and 100 tonnes (2.57-3.22 million troy ounces) of gold to China per year, the bank said on Tuesday after it started the shipments.

VTB said earlier Tuesday it had dispatched its first batch of gold to China, becoming the first Russian bank to start direct supplies of physical gold to the world's largest buyer and consumer of the precious metal. ...

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