UAE remains a major destination for smuggled conflict gold, report says

A new Swissaid study says the UAE remains a major hub for smuggled and conflict gold despite rules introduced in 2023 to curb illegal trade.

The report estimates that the country imported at least 591 tonnes of illicit gold worth $74 billion in 2024.

It says gold from conflict zones and sanctioned countries, including Sudan, Russia and Yemen, continued to reach the UAE, often through other countries.

Swissaid says enforcement is weak and many refiners and traders do not follow the rules.

The trade matters because gold smuggling has helped finance Sudan’s war, including the paramilitary Rapid Support Forces, according to the sources.

The report recommends that the UAE be added to an international watchlist for possible financial wrongdoing.

The UAE had not immediately responded to a request for comment, and Swissaid says full 2025 data is not yet available.