LBMA suspends Russian precious metals refinery from good delivery lists
LONDON, May 15 (Reuters) - The London Bullion Market
Association said on Tuesday it had suspended the Ekaterinburg
Non-Ferrous Metals Processing Plant from its gold and silver
good delivery lists due to "ownership related issues".
The refinery in Russia is controlled by Moscow-based
conglomerate Renova Group, which along with its key shareholder,
billionaire Viktor Vekselberg, was sanctioned by the United
States on April 6. The LBMA said in a notice the refinery would be removed from
its active good delivery lists from May 14.
The good delivery lists contain refineries whose gold and
silver bars meet the required standard for acceptability in the
London bullion market, the world's largest.
(Reporting by Peter Hobson; editing by Jason Neely)
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