SCO & BRICS latest news and insights
By Rhod Mackenzie and Bogdan Kolbasuk
Vladimir Putin has signed off on an order authorising the transactions of the shares of the Polymetal company, to which the Russian assets of Polymetal International were previously allocated, as well as the Taseevskoye gold deposit in Transbaikalia, previousl...
By Rhod Mackenzie
Through the acquisition of Polymetal's Russian assets, Mangazeya, owned by Sergei Yanchukov, has become one of the largest gold mining companies in the Russian Federation. The transaction is valued at $3.7 billion,however, only $300 million is to be paid in cash. Polymetal will a...
By Rhod Mackenzie
Polymetal Int has agreed to sell its Russian business for $3.69 billion. The deal is expected to closed by the end of March 2024, subject to regulatory approvals and approval by the shareholders' meeting, which will be held on March 7, 2024 in Astana (Kazakhstan).
The sale of 1...
By Rhod Mackenzie
According to a study by financial intelligence company Sayari, it is possible that certain Russian banks may have found a way to bypass the ban on importing cash dollars and euros into Russia by exchanging gold for them in the United Arab Emirates and Turkey. Bloomberg reported o...
By Rhod Mackenzie
The movement of Russian gold has suddenly changed direction. Instead of going to London, Russian precious metals are flowing to Asian markets where demand remains consistently high. What are reasons for this redistribution and change of direction, who currently requires gold and...
By Rhod Mackenzie
Russians will be required to pay tax on the gain (NDFL) when selling gold bars starting from the end of 2024, according to the new Government regulations . The exemption from paying tax on the gain in value, which was in effect in 2022-2023, will not be extended. Financial instit...
