By takumihamano 
The gold trade in Russia has been a topic of significant interest and concern, especially given the country’s economic and geopolitical landscape. Here, we delve into the latest developments and trends in Russia’s gold trade.
- Ethiopian Ambassador Meets Moscow Chamber of Commerce: On April 5, 2025, Ethiopian Ambassador Genet Teshome Jirru met with the Moscow Chamber of Commerce and Industry to discuss strengthening business ties between Ethiopia and Russia. The discussions identified potential cooperation areas, including ICT infrastructure development, digitization, education exchange, and sustainable urban development. This meeting highlights Russia’s ongoing efforts to expand its economic partnerships and trade relations, including in the gold sector.
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Ethiopia’s Macroeconomy Shows Significant Improvement: Ethiopia’s macroeconomic indicators have shown significant improvement over the past nine months, with an 8.4% economic growth projected by the end of the current fiscal year. This economic stability and growth could potentially influence Ethiopia’s trade relations with Russia, including in the gold trade sector.
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Ethiopia, Belarus Strengthen Bilateral Ties: Ethiopia and Belarus have affirmed their commitment to strengthening bilateral ties and expanding cooperation. This development could have implications for Russia, given Belarus’s close economic and political ties with Russia. Enhanced cooperation between Ethiopia and Belarus might lead to increased trade activities, including gold trade, involving Russia.
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Ethiopia, Kenya Seek Stronger Bilateral Trade Ties: Ethiopia and Kenya are aiming to strengthen their bilateral trade relations, with discussions focusing on formalizing cross-border trade to reduce informal channels. This move towards formalized trade could impact the gold trade dynamics in the region, potentially involving Russia as a key player.
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EU Shifts Focus to Investment Partnerships in Ethiopia: The European Union has committed to shifting its relationship with Ethiopia from development aid to investment and sustainable job creation partnerships. This shift could lead to increased foreign direct investment in Ethiopia, including in the gold mining and trade sectors, potentially involving Russian investors.
In summary, the gold trade in Russia is influenced by various international developments and partnerships. The strengthening of economic ties between Ethiopia and countries like Russia, Belarus, and Kenya, as well as the EU’s investment focus, could have significant implications for Russia’s gold trade. These developments highlight the interconnected nature of global trade and the importance of strategic economic partnerships.