Russia to make fourth attempt to auction confiscated stake in UGC

Reuters | June 10, 2026 | 8:22 am Markets Europe Russia and Central Asia Gold

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Russia will make another attempt to sell its 67.2% stake in gold producer Uzhuralzoloto (UGC) via a Dutch auction after three failed attempts to auction the asset, state property agency Rosimushchestvo said.

Bids will be accepted from June 11 to June 18, with results expected on June 19.

The starting price has been set at 162 billion roubles ($2.25 billion) for the UGC stake and other confiscated assets previously owned by businessman Konstantin Strukov.

A Russian court last July ordered the majority UGC stake owned by Strukov to be transferred to the state, part of a broader wave of nationalizations since the start of the war in Ukraine.

($1 = 71.8455 roubles)

(By Anastasia Lyrchikova and Maxim Rodionov; Editing by Mark Trevelyan)