United Arab Emirates: Now More Than Ever a Hub for Conflict Gold

The recent foreign trade statistics published by UN Comtrade* for the United Arab Emirates (UAE) confirm SWISSAID's concerns: The UAE continues to import gold from smuggling and conflict zones, particularly from Sudan and its neighbouring countries. In 2024, the UAE imported 29 tonnes of gold from Sudan, compared to 17 tonnes in 2023, along with significant quantities from neighbouring countries: 27 tonnes from Egypt, 18 tonnes from Chad, and 9 tonnes from Libya. From the latter two countries, gold is being smuggled, controlled by the Rapid Support Forces (RSF), a Sudanese paramilitary militia whose atrocities have made headlines. This confirms the UAE's role as the main destination for Sudanese smuggled gold. SWISSAID published an analysis on this in May 2025 (African Gold Report).

The phenomenon is not limited to Sudan and its neighbours. In 2024, the UAE imported 31 tonnes of gold from Uganda (2023: 14 tonnes) and 19 tonnes from Rwanda (2023: 13.8 tonnes), two countries that produce little gold but serve as hubs for smuggled gold from the Democratic Republic of the Congo, where it is partly linked to conflicts. The UAE also imported 52 tonnes from Togo (USD 4 billion), a country that mines almost no gold. This illustrates the extent of the smuggling networks in the region and their connections to the UAE.

Russian Gold and the War in Ukraine

Russian gold, which contributes to financing the war in Ukraine, is no exception. In 2024, the United Arab Emirates reported importing 66 tonnes of gold from Russia (valued at USD 5.4 billion), up from 41 tonnes in 2023. Additionally, 78 tonnes of gold came from Armenia (valued at USD 5.8 billion), a country that almost exclusively serves as a transit point for Russian gold, compared to 41 tonnes the previous year.

These figures highlight the severe shortcomings in the implementation of the emirate's 2023 legislation on responsible gold sourcing ('Due Diligence Regulations for Responsible Sourcing of Gold'). Although the legislation is based on the guidelines of the Organisation for Economic Co-operation and Development (OECD) and prohibits the import of illegal or conflict-affected gold. 'In light of these figures, the United Arab Emirates should be placed back on the grey list of the Financial Action Task Force (FATF),' demands Marc Ummel, resource expert at SWISSAID. SWISSAID had already uncovered in a 2024 report that the UAE had imported 2,569 tonnes of illegal African gold, worth approximately USD 115 billion, between 2012 and 2022.

Boom in Imports from the Emirates to Switzerland

Switzerland is directly involved in this problematic trade, as it imports gold from the UAE, whose original source is unknown. Between January and September 2025, Bern imported 316 tonnes of gold worth CHF 27 billion, more than twice the annual average.

'This massive increase is especially concerning given the quantities of illegal and conflict gold transported through the UAE, and the complete lack of transparency regarding their actual source,' explains Ummel. The recent announcement by the Swiss Precious Metals Association (ASMP) to create a register in 2026, providing more information on the origins of metals processed in Switzerland, will not shed light on this issue. Because Valcambi, the refinery that imports almost all of the gold from the Emirates to Switzerland, is no longer a member of the ASMP. Therefore, these data will not be included in this register.

For SWISSAID, it is crucial that the ongoing revision of the Precious Metals Control Ordinance tightens the requirements for traceability and transparency by requiring the publication of the sourcing of Swiss refineries.

Contact Persons:

Marc Ummel, Head of the Commodity Department SWISSAID, Tel: +41 (0)79 694 49 21, m.ummel@swissaid.ch

Thaïs In der Smitten, Head of Media SWISSAID, Tel: +41 (0)77 408 27 65, media@swissaid.ch

Thaïs In der Smitten, SWISSAID - Media and Campaigns Tel. +41 (0)77 408 27 65
th.indersmitten@swissaid.ch
www.swissaid.ch

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