off-the-wire

Russian court orders freeze of $393M at gold miner Uzhuralzoloto

Kitco Media
By Reuters
Published:
Updated:
Reuters
Russian court orders freeze of $393M at gold miner Uzhuralzoloto teaser image

Russian gold producer Uzhuralzoloto (UGC) said on Monday that Russian bailiffs have frozen 32.1 billion roubles ($393.87 million) of the company’s funds under a ruling by the Moscow City Court.

The company did not disclose details of the court decision.

In July 2025, a Russian court ruled that the majority stake in UGC, previously owned by businessman Konstantin Strukov, should be seized and transferred to the state.

Russian prosecutors accused Strukov and several others of obtaining property “through corruption.”

In early February, Russian Deputy Finance Minister Alexei Moiseev said that the ministry hoped to sell the state’s stake in UGC in March.

($1 = 81.5000 roubles)

(By Maxim Rodionov; Editing by Tomasz Janowski)

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