Africa’s fifth-largest gold producer loses key European market as EU sanctions hit $12.7 billion industry

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 produced an estimated 74.6 tonnes of gold in 2025, making it Africa’s fifth-largest producer behind Ghana, South Africa, Burkina Faso and Mali, according to figures attributed to Metals Focus and the World Gold Council.

SWISSAID estimates Sudan’s annual production at between 80 and 90 tonnes, worth CHF9.2 billion to CHF10.3 billion, although official figures and declared exports are considerably lower. Sudan’s armed forces reported 70 tonnes of production in 2025, while only 14.7 tonnes were declared as exports.

“This step was long overdue,” SWISSAID commodities expert Marc Ummel said, according to MiningMX.

The gap is significant because much of Sudan’s gold is believed to leave the country through informal channels, particularly towards the United Arab Emirates. SWISSAID said the UAE imported 29 tonnes directly from Sudan in 2024, up from 17 tonnes in 2023, while additional Sudanese gold was routed through Egypt, Chad and Libya.

Switzerland has long been exposed to this indirect trade. Global Witness found that Dubai-based Kaloti acquired Sudanese gold linked to conflict areas from the Central Bank of Sudan from 2012 to 2019.

Swiss refiner Valcambi subsequently sourced significant quantities from Kaloti, including around 20 tonnes in 2018 and 2019, according to the investigation.

The UAE remains the dominant gateway, but Sudanese gold has also reached Western markets. UN Comtrade data shows Sudan exported small quantities of unwrought gold directly to Germany in 2015, while European supply chains have continued to face scrutiny over gold arriving through intermediaries.

SWISSAID is now calling for tighter checks on UAE gold shipments and greater disclosure of the metal’s actual country of origin, warning that Sudanese gold could still reach Switzerland after passing through Dubai.