Russia says stake in gold producer UGC to be put up for public auction soon

Reuters | December 30, 2025 | 8:24 am Markets Russia and Central Asia Gold

The Kremlin and the waterfront. Moscow, Russia. Stock image.

Russian Finance Minister Anton Siluanov said on Tuesday that the state-owned stake in gold producer Uzhuralzoloto (UGC) will soon be put up for open auction.

“We will put it up for auction, we will not delay,” Siluanov said on the Russian state TV channel Russia24.

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.”

(Reporting by Reuters; Editing by Gleb Bryanski)