Africa’s fifth-largest gold producer, Sudan has lost access to a key European market after Switzerland banned imports of Sudanese gold, putting further pressure on an industry estimated to be worth about CHF9.2 billion to CHF10.3 billion ($12.7 billion) annually.
The ban, which took effect on September 10, brings Switzerland into line with European Union sanctions introduced in July and covers Sudanese gold shipped directly from the country or routed through third countries.
Switzerland’s State Secretariat for Economic Affairs (SECO) confirmed that the restrictions cover Sudanese gold shipped directly or through third countries. Switzerland’s Federal Council said the measures also prohibit the transit of Sudanese gold and related financial and support services.
The move targets one of Sudan’s most important sources of export revenue at a time when gold remains central to the country’s wartime economy, with both sides of the conflict accused of relying on the trade to finance their operations.
Sudan’s gold industry remains one of Africa’s biggest
