Executive Order 13936

Polymetal: Business update

Retrieved on: 
Thursday, June 23, 2022

Polymetal provides an update on its business, including the current impact of sanctions against Russia.

Key Points: 
  • Polymetal provides an update on its business, including the current impact of sanctions against Russia.
  • Since the previous update, Japan joined western countries and imposed additional sanctions against Russia prohibiting exports of industrial goods and technologies.
  • The Board and the management continuously evaluate stability, liquidity and solvency of the business in light of multiple external uncertainties.
  • The Board and the management strongly believe that share buy-backs are presently inappropriate given short-term liquidity challenges, grave business uncertainties, and NSD challenges outlined above.