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You are here: Home / ukraine subreddit / London-listed miner Petropavlovsk says sanctions prevent it from selling gold

Mar 25 2022

London-listed miner Petropavlovsk says sanctions prevent it from selling gold

Shares in Russia-focused firm fall after firm is caught in crosshairs of UK sanctions against Gazprombank

Ukraine-Russia war – latest updates

The Russia-focused mining company Petropavlovsk has said it is unable to offload its gold or repay a loan because of the inclusion of Gazprombank on the UK’s sanctions list after the invasion of Ukraine.

Shares in the London-listed company tumbled by a fifth in early trading on Friday after Petropavlovsk revealed it was “urgently” assessing its business operations and financing arrangements as a result.

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