Open Mineral - metal commodity trade solutions enabled by commercial and market intelligence platform. Open Mineral Ltd, registered in Abu Dhabi a year ago and fully owned by Open Mineral AG with headquarters in Zug (Switzerland).

Switzerland adopted an EU ban on the "direct or indirect import, purchase or transfer" of Russian gold, including shipments to third countries, in August 2022. However, a provision in Swiss law allows foreign subsidiaries to trade in Russian goods if they are "legally independent". However, the Swiss Sanctions Enforcement Agency declined to define the term.

The Company Statement
April 17, 2023

According to documents cited by the Financial Times, between August 2022 and January 2023, this company imported $44 million worth of Russian gold to the United Arab Emirates (UAE) in six batches.

October 29, 2023Traders and Banks Strike Deals in Russian Metals as Taboo Fades
April 18, 2023Swiss-Owned Company's Russian Gold Trades Expose Gap In Western Sanctions
April 17, 2023Swiss company from Abu Dhabi was able to buy Russian gold bypassing sanctions
Open Mineral Ltd in Dubai
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