Dominic Raab to investigate ‘blood gold’ trade that is bankrolling Russia

Mining companies have hired Dominic Raab to investigate the global “blood gold” trade that is funnelling billions of dollars towards Russia’s war in Ukraine. The former UK deputy prime minister has been asked to carry out a review by the World Gold Council, a trade association, amid concerns that gold smugglers are evading Western sanctions and suppressing smaller miners. This will involve making recommendations on how to tackle the problem, for example by introducing new industry supply chain standards or through better enforcement of sanctions. Speaking to The Telegraph, Mr Raab said: “The targeting of artisanal gold miners by mercenaries, terrorists and organised crime has inflicted the most appalling suffering. “Meanwhile, the illicit gold plundered is funding war, terrorist groups and organised crime. “We need concerted action to end this trade in blood gold, safeguard vulnerable communities and choke the flow of money going to those who threaten regional and international security.” Since leaving the Government last year, Mr Raab, who also served as foreign secretary, has waded into the debate over mineral resources and competition between the West and China. He joined Appian Capital as a geopolitical advisor in February. He was also appointed chairman of a committee formed by...

Read more