Open Mineral confirmed to AWP that it is under investigation
The investigation concerns possible trade in Russian gold in circumvention of sanctions.
Swiss law enforcement agencies are investigating the trading company Open Mineral on suspicion of violating sanctions imposed against Russia. This was reported by local media outlet Swissinfo.
“The inspection of the company, registered in the city of Bar (canton of Zug), was initiated by the State Secretariat for Economic Affairs (SECO), which oversees, among other things, sanctions policy issues,” the report said.
The investigation concerns possible trade in Russian gold in circumvention of sanctions imposed after Russia’s military invasion of Ukraine.
Open Mineral confirmed to AWP that it is under investigation: premises were searched last week as part of an investigation into the 2022 operations.
The company is “fully cooperating with the investigating authorities” and continues to operate “as normal.”
SECO clarified that the case is being conducted against two individuals and several unidentified individuals. The investigation focuses on possible violations of sanctions legislation against Moscow.
Open Mineral opened an office in Switzerland in 2016 and has been actively operating since 2017. It has offices in 11 cities around the world and operates in more than 50 countries.
Recall that according to the Foreign Intelligence Service of Ukraine, the Russian National Welfare Fund has $38 billion left of the $150 billion it had before the full-scale invasion of Ukraine in 2022.