Government tightens rules for circulation of precious metals and stones

Government has submitted to the State Duma a bill which tightens the rules governing the circulation of precious metals and stones in pawnshops. It clarifies the powers of the Ministry of Finance to issue regulations and distributes responsibilities between the Central Bank and the Federal Assay Chamber. Bill also introduces a register of retail trade objects and a list of products containing precious metals or stones, not subject to acceptance by the pawnshop in pledge. If passed, the law will enter into force on September 1, 2025.