Polymetal: Update on the Russian-registered JSC Polymetal
Polymetal International plc (the “Company” or “Polymetal”) wishes to provide an update and clarify the position on the designation by the U.S. Department of State of JSC Polymetal (AO Polymetal) on 19 May 2023.
- Polymetal International plc (the “Company” or “Polymetal”) wishes to provide an update and clarify the position on the designation by the U.S. Department of State of JSC Polymetal (AO Polymetal) on 19 May 2023.
- As a result of this designation, JSC Polymetal has been added to the Specially Designated Nationals and Blocked Persons List (“SDN List”) and U.S. persons are prohibited from transacting with JSC Polymetal and any entities that are owned, directly or indirectly, 50 percent or more, by JSC Polymetal, including its Russian-registered subsidiaries.
- JSC Polymetal does not have any operations outside of the Russian Federation.
- This statement by OFAC also makes clear that neither the Department of State nor OFAC have designated the Company (being Polymetal International plc as the parent company of JSC Polymetal), or its non-Russian subsidiaries.