Armed Conflict: Gold
The question
To ask the Secretary of State for Foreign, Commonwealth and Development Affairs, what steps he is taking to prevent conflict gold from entering UK supply chains.
Answered by Stephen Doughty
The illicit gold trade fuels corruption and conflict, undermining the rule of law and entrenching human rights abuses such as child labour. Russia uses the illicit gold trade to launder money and evade sanctions, in doing so bolstering Putin's war efforts. The UK has sanctioned Russian gold and targeted illicit gold networks abroad, including through further sanctions in December 2024. The UK works with the London Bullion Market Association and World Gold Council to support responsible sourcing of gold and to build resilience to illicit gold flows. The London Bullion Market Association implements the Organisation for Economic Co-operation and Development's (OECD) industry-leading Due Diligence Guidance for Responsible Supply Chains of Minerals from Conflict-Affected and High-Risk Areas to ensure proper risk identification and mitigation for conflict gold.
Verbatim has judged this answer against the question that was actually asked — answered, partly answered, or evaded. Sign in to see the verdict →