U.S. Treasury Sanctions Russian Precious Metals Companies

[PinkDiamond]

I doubt any of you are sourcing metals from these companies, but just in case you are, and to make sure you don't end up on the wrong side of the law, here are 3 companies you need to avoid like the plague.

U.S. Treasury Sanctions Russian Precious Metals Companies
By Rob Bates | July 20, 2023



"The U.S. Treasury’s Office of Foreign Assets Control (OFAC) has placed three Russian metal producers on its Specially Designated Nationals (SDN) list—which means it is now illegal for U.S. companies or citizens to have direct dealings with them.

The companies are Ural Mining and Metallurgical Company (UMMC), one of Russia’s top producers of metals such as copper, zinc, gold, and silver, and two subsidiaries: UMMC Nonferrous Metals Processing Limited Liability Company, and Joint Stock Company Uralelektromed.

The three were sanctioned for “operating or having operated in the metals and mining sector of the Russian Federation economy.”

OFAC previously placed sanctions on Russian diamond miner Alrosa. A complete list of newly sanctioned companies and individuals can be seen here. "
https://www.jckonline.com/editorial-art ... ns-metals/

[SwordfishMining]

Sure is hard to prove Oligarchship or State ownership in any communist or socialist country. Lately it seems, our republic is not far behind them.