Russian Gold Is Hit With De Facto Ban From Key London Market (2)

London’s gold market suspended all Russian refineries from its accredited list, meaning their newly minted bars can no longer trade in one of the world’s most important bullion centers.

The London Bullion Market Association suspended all six Russian gold and silver refineries from its Good Delivery List following sanctions imposed by the U.S., European Union and U.K. on the country, the LBMA said Monday. Existing bars produced by the refiners before their suspension will still be accepted.

The decision amounts to a de facto ban on new Russian gold bars entering London’s market, where trillions of dollars of precious metals ...