Ukraine's Defence Ministry finds nearly US$100,000 worth of dental gold in storage

Ukraine’s Ministry of Defence has found 1.4 kg of dental gold, worth approximately UAH 3.5 million (about US$97,000), in its warehouses, which is set to be transferred to the National Bank by the end of the year. 

Source: Oleh Koval, Head of the Department of Excess Military Property Disposal and Recycling of the Ministry of Defence, in a comment to Forbes Ukraine 

Details: According to Forbes, gold used to be purchased for Armed Forces of Ukraine dental clinics until 2013.

In 2017, the Command of the Medical Forces of the Armed Forces of Ukraine collected the remaining gold in all Defence Ministry dental clinics and moved the precious metal to the Ministry’s Excess Military Property Disposal and Recycling Department. There was about 1.4 kg of gold.

The metal was stored in a Defence Ministry warehouse until seven Russian missiles hit it in March 2022.

The Ministry is now negotiating with the National Bank of Ukraine so that the regulator can buy the precious metal by the end of the year and melt it down for its gold and currency reserves. Its value has been tentatively estimated at UAH 3.5 million, Koval said.

The Defence Ministry plans to send 80% of the proceeds to the state budget, while 20% will go to a special Ministry fund and then be distributed to various financial programmes.

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