https://arab.news/b8yct
RIYADH: Moscow-based Gazprombank, which is on the UK sanctions list, has asked the London-listed gold miner Petropavlovsk for the immediate repayment of a $201 million loan.
The Russian lender has also asked for another $87.1 million loan to be paid next week, according to Bloomberg.
Petropavlovsk, which has all its gold mines in Russia, has been suffering as sanctions against Moscow are mounting following the country’s invasion of Ukraine.
“The company is considering the implications of these notices with its advisers,” said a statement from Petropavlovsk, according to Bloomberg.
Sanctions against Russia means the gold miner is unable to sell its products in the country or pay its debts. As a result, Petropavlovsk said it is considering selling its assets.