Turkey moves gold to Switzerland – local news

A Swiss news site has said that the Turkish treasury has moved 19 tons of gold to Switzerland from the United States in an attempt to dodge potential sanctions.

BZ Basel said the Bank for International Settlements in Basel, which is officially extraterritorial, with not even Swiss police being able to enter, had taken the shipment from Fort Knox.

The news site speculated that one reason for Turkey removing the reserves from the United States could be fear over possible economic sanctions on the country’s state owned bank Halkbank, which faces a likely fine following revelations that it allowed Iran to undermine U.S.-led economic sanctions.

The news follows reports in the Turkish press suggesting that Turkey was withdrawing its gold reserves from the United States.

https://www.bzbasel.ch/basel/basel-stadt/brisante-transaktion-erdogan-holt-19-tonnen-gold-von-fort-knox-nach-basel-132584639