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Security Forces Target Yuzhnouralzoloto for Environmental and Safety Negligence in Major Raids

Security Forces Target Yuzhnouralzoloto for Environmental and Safety Negligence in Major Raids

Russian security forces conducted searches at the offices and facilities of Yuzhnouralzoloto, the nation’s third-largest gold producer, in connection with a continuing investigation into environmental infractions and workplace safety issues, as reported by the state-owned TASS news agency on Wednesday.

The Federal Security Service (FSB) officers searched the company’s headquarters in the Chelyabinsk region, its central mining site, and other associated locations, according to TASS.

An FSB spokesperson revealed that the agents “found breaches of environmental protection laws and industrial safety regulations.”

Additionally, investigators noted the operation of industrial sites in the Plastovsky and Yetkulsky districts that were linked to pollution in designated water protection areas and contributed to a decline in environmental quality.

Yuzhnouralzoloto, which operates in the Chelyabinsk and Krasnoyarsk regions, along with Khakassia, has previously appealed against a fine from the Federal Service for Environmental Supervision (Rostechnadzor) concerning safety violations, according to the FSB source quoted by TASS.

In 2024, the company produced 10.6 tons of gold and recorded revenues of 25 billion rubles ($320 million), but also experienced a net loss of 7.2 billion rubles ($90 million).

As reported by the RBC news website, FSB agents also searched the office of Konstantin Strukov, the billionaire owner and president of the company.

Yuzhnouralzoloto has not issued any public statements regarding the raids.

A law enforcement source informed the Kommersant business daily that the company has been connected to six fatal workplace incidents in recent years, indicating a “careless attitude” towards industrial safety.

One of the most serious environmental incidents involving the company occurred in April 2024, when a dam at a technical reservoir in the Svetlinsky deposit failed.

This collapse released industrial waste containing arsenic into the Baturovka and Sanarka rivers, impacting roughly 3.5 million square feet of farmland.

The Chelyabinsk regional prosecutor’s office estimated the damage to be around 3 billion rubles ($38 million) and has filed a lawsuit against the company to recover these costs.

Regulatory authorities later determined that the dam was constructed in violation of safety regulations and was operating without the necessary permits.

In addition to the FSB investigation, the Plastovsky city court is currently reviewing seven lawsuits submitted by the environmental prosecutor’s office against the company. Two of these cases have been partially settled, with the company agreeing to pay 113 million rubles ($1.5 million) in damages. The total compensation sought in all cases surpasses 654 million rubles ($8 million).

Last year, Rostechnadzor suspended operations at four of the company’s main mines for three months due to “systematic industrial safety violations.”

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Russian Ruble Dips After EU Unveils New Sanctions on Energy and Banks Текст: The Russian ruble tumbled sharply on Wednesday, erasing part of its recent gains as investors reacted to fresh concerns over Western sanctions and weakening oil export revenues. The dollar surged nearly 3% in a few hours on the Moscow Exchange, climbing from 78.2 rubles in early trading to 80.49 by 1:45 p.m. local time. The euro jumped above 91 rubles, while the Chinese yuan rose almost 2% to 11.04 rubles. By late afternoon, the ruble had regained some ground, with the dollar retreating to 79.65 and the euro to 91.39. The ruble has been one of the world’s best-performing currencies in 2025, gaining roughly 40% since January. But analysts say the sharp pullback may signal a turning point. Its decline on Wednesday “may be tied to discussions in the EU about a new package of sanctions targeting Russian financial institutions and energy exports,” said Natalia Milchakova, a senior analyst at Freedom Finance Global. A proposed 18th round of EU sanctionsintroducedby the European Commission on Tuesday includes plans to disconnect 22 more Russian banks from the SWIFT global payment system, blacklist dozens of tankers involved in circumventing oil trade restrictions and ban transactions with the Nord Stream gas pipelines. The measures would also lower the price cap on Russian crude exports from $60 to $45 per barrel. Under the cap mechanism, oil sold above the limit would be ineligible for Western insurance and transport services — a move aimed at squeezing revenue from Russian energy exports. Experts warn that these measures, if adopted by the United States and G7 allies, could deliver the most serious blow to Russian oil exports since the European embargo imposed in late 2022. Sanctions have already sidelined much of the Kremlin’s “shadow fleet,” and if the price cap is lowered, Greek shipping firms — which have been instrumental in transporting Russian oil — may exit the market altogether, the Moscow-based Institute for Energy and Finance said. As a result, a noticeable reduction in seaborne oil exports from Russia is likely … and the Russian budget may face an even greater reduction in oil revenues in the second half of this year, the IEF wrote. The ruble is also under seasonal pressure, as exporters appear to have slowed their conversion of foreign currency earnings ahead of the Russia Day holiday weekend, Reuters reported. At the same time, Yevgeny Kogan, a Russian investment banker, said demand for foreign currency may have risen ahead of the long weekend. Adding to the pressure is a decline in oil revenues, which remain the backbone of Russia’s export economy. The average price of Urals crude fell to $52 per barrel in May compared to $66 in January, according to the Economic Development Ministry. That figure represents the lowest level in more than two years. Some analysts believe the ruble’s current weakness may be a harbinger of a more prolonged decline. Kogan predicted the currency could continue to weaken in June and July. Sofya Donets, chief economist at T-Investments,saidpressures could intensify into August, potentially pushing the exchange rate beyond 90 rubles to the dollar. The government-linked Center for Macroeconomic Analysis and Short-Term Forecastingwarnedthat the ruble could experience an “overshoot” in the opposite direction, reversing its earlier gains with a potentially steep depreciation. “The more overvalued the ruble is now,” the group said, “the more vulnerable it is to a sharp correction.”

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