The United Arab Emirates (UAE) remains the main destination for gold smuggled from Sudan and other conflict-hit countries, with at least 591 tonnes of illicit gold worth an estimated $74 billion entering the country in 2024, according to a new report by Swiss organisation Swissaid.
A report published by Middle East Eye on Friday (November 13) said the UAE continued to serve as a major hub for smuggled and conflict-linked gold despite introducing regulations in 2023 to curb illegal trade.
The report found that around 42 per cent of the UAE’s total gold imports in 2024 involved illicit or conflict-linked gold. At least 453 tonnes came from African gold-producing countries, including Sudan, Guinea and Mali.
Swissaid also identified at least 174.5 tonnes of gold imported from Russia, Yemen and Sudan, directly or indirectly, describing the entire volume as conflict gold.
The organisation said weak enforcement and inadequate checks by gold traders and refineries had allowed illicit supplies to continue entering the UAE market.
Gold smuggling has become a significant source of financing for Sudan’s ongoing conflict between the Sudanese military and the paramilitary Rapid Support Forces (RSF), which began in April 2023.
The UAE has denied allegations of supporting the RSF, saying its involvement in Sudan is humanitarian.
-AH