OREANDA-NEWS  Russian banks have sold about 35 tons of investment gold bars to individuals as of May 1, said Nikolay Margaritov, Deputy Director of the Department of State Regulation of the Precious Metals and Precious Stones Industry of the Ministry of Finance of Russia.

"As of May 1 of this year, banks have already sold about 35 tons [of investment gold bars] to individuals," Margaritov said on the sidelines of the Russian Retail Week forum, whose words are quoted in the telegram channel of the Ministry of Finance.

During the forum, Margaritov also announced the main initiatives that were established at the legislative level. The official noted the possibility of individuals selling refined bullion for purchase and establishing the order of turnover of such measured investment bars on the Russian market. He also recalled that the Ministry of Finance of Russia supported the initiative to empower refining organizations and Goznak of Russia, along with banks, to sell gold bars without VAT to individuals.

Earlier in May, Goznak announced the start of the sale of gold measuring bars to individuals. Now investors can buy, sell, and also deposit the measured gold bars purchased from Goznak along with investment coins. This was reported in the company's materials.