Gold bars to have e-certificates as of March 2027 to simplify transactions - Russian Finance Ministry

MOSCOW. April 3 (Interfax) - Information on measured and standard bars of refined precious metals, including gold, will be contained in e-certificates as of March 1, 2027, in addition to paper certificates, according to the Russian Finance Ministry's draft resolution.

The change will facilitate the sale of gold bars and the exchange of data within the precious metals and precious stones circulation monitoring system (the system). "The initiative will also facilitate investing in precious metals, as citizens will be able to sell their bars easily. Losing a paper document currently renders it difficult to sell a bar," the Finance Ministry said.

Furthermore, refineries will be able to generate a precious metals metallurgical balance in the system, namely a report on the flow of precious metals from raw materials to finished products, which will require entering information on actual precious metal balances based on the results of the inventory as of January 1 of the year following the reporting year. The measure is scheduled to enter into effect on September 1, 2026.