Gokhran definition

Gokhran means the State Institution with the Ministry of Finance of the Russian Federation for the Formation of a State Fund of Precious Metals and Precious Stones of the Russian Federation for Custody, Issue and Use of Precious Metals and Precious Stones.
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Gokhran means the Russian State Treasury Agency;
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Examples of Gokhran in a sentence

  • Currently, under Russian legislation, the Gokhran (a body within the Federal Ministry of Finance) and regional authorities (regional funds for precious metals) have a preferential right to purchase gold and silver bullion bars from the producers of precious metals, provided preliminary sale and purchase agreements have been concluded and advance payments on account of payments made under these agreements.

  • In the case of sales by producers to the Gokhran and/or regional authorities, such state agencies buy at prices that are based on international market prices.Historically, there were serious delays in payment for domestic sales where the state was involved.

  • This will further impact the quality of the overall project, increase the number of seams, and result in a poor ride and shorter life expectancy for the project.

  • For many years the palladium produced at Norilsk but not exported to the West was owned by and stored at Gokhran, the Russian state stock of precious metals and gems that is part of the Ministry of Finance.

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  • In addition, the Russian state treasury, Gokhran, has also said that no sales of palladium were made from government inventories during the year in support of Norilsk’s position.

  • Until recently, Gokhran refrained from making advance payments in view of complex and unclear security requirements and restrictions on the use of funds set forth by the Government and the Ministry of Finance; so it was not so easy to implement the right of first refusal in practice.

  • Simultaneously a representative has to be notified in writing including his contact data.

  • In case of sales to Gokhran, title passes from the Group upon delivery to Gokhran’s vault and the price payable is equal to the London am fix on the day preceding the date of shipment from the refinery.

  • As for your question about our inventories, of course they do not include inventories which are held by Gokhran, which is completely independent from ALROSA.

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