Yo, check this out! The UK’s National Crime Agency (NCA) just dropped a major warning to the financial sector about Russia using gold to dodge sanctions. They’re saying that Russia is trying to sneak in sanctioned gold and sell it around the world by hiding it in supply chains. Sneaky, right? The NCA is not playing around, they’ve slapped 29 new sanctions on individuals and entities supporting Russia’s gold, oil, and strategic sectors. They even targeted a network in the UAE that funnelled over $300 million in gold revenues to Russia. And get this, they’ve sanctioned two of Russia’s biggest gold producers and some Russian big shots too. Gold is a huge moneymaker for Russia, bringing in a whopping £12.6 billion ($15.5 billion) in 2021. But the UK is not having it, they’re teaming up with banks and high-value dealers to make sure these sanctioned folks can’t use gold to get around the rules. The NCA’s director, Adrian Searle, is all about it, saying this alert will help stop these shady dealings. The London Bullion Market Association (LBMA) is also in on it, accrediting gold refineries and setting the standards for what’s considered top-notch gold. They’re not messing around, accounting for up to 92% of the world’s gold production. So, watch out Russia, the UK’s got its eyes on you!