Valery Goncharov, the head of Financial Department for the Russian State Treasury Gohkran reported that for the last 10 months Russian banks bought 103 tons of gold from the exploiters of natural resources.

According to Interfax Information Agency, Valery Goncharov was unable to reveal the volume of exported gold by Russian banks, but mining companies themselves carried out no direct export operations. He also stressed that the mining companies will certainly take advantage of their new rights for independent export should the 5% export tax on gold will be cancelled from the 1st of January 2002. In that case Gokhran and the Central Bank will be buying gold with 0,5% discount. Apart from that, next year Gokran will be carrying out bimonthly large diamond auctions, given the next one at the end of November will be successful.