The US State Department said on Friday that it has designated multiple entities and individuals operating in the metals and mining sector of the Russian economy as part of a new massive sanctions package, including the Joint Stock Company Polimetall AO and the Public Joint Stock Company Polyus
WASHINGTON (Pakistan Point News / Sputnik - 19th May, 2023) The US State Department said on Friday that it has designated multiple entities and individuals operating in the metals and mining sector of the Russian economy as part of a new massive sanctions package, including the Joint Stock Company Polimetall AO and the Public Joint Stock Company Polyus.
While Polimetall AO is one of the ten largest gold producers and one of the top five silver producers in the world, Polyus is the largest gold producer in Russia and a global top ten gold miner by ounces produced, according to a State Department fact sheet.
Additionally, the State Department has designated a range of companies affiliated with Polyus, including JSC Polyus Krasnoyarsk, JSC Polyus Aldan, LLC Polyus Service and LLC Polyus Management Company, the fact sheet said.
Polyus General Director Aleksei Vostokov and Senior Vice President of Operations Vladimir Polin have been designated for being senior executives of the sanctioned companies.
In addition, the US Treasury Department issued two general licenses 66 and 67 authorizing the wind-down of transactions and certain transactions related to debt or equity of, or derivative contracts involving Public Joint Stock Company Polyus through 12:01 a.m. EST (04:01 GMT) August 17.
