Published by Global Banking & Finance Review®
Posted on April 20, 2026
2 min readLast updated: April 20, 2026
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Russia’s property agency values its newly seized 67.2% stake in gold producer UGC at 140.4 billion roubles (~US$1.85 bn) ahead of an auction planned for early May, amid a broader wave of asset seizures estimated at around US$50 bn since 2022.
MOSCOW, April 20 (Reuters) - The Russian property agency said on Monday it had valued a 67.2% stake in gold producer UGC at 140.4 billion roubles ($1.85 billion) ahead of an auction to sell the stake, which will be held at the start of May.
In July 2025, a Russian court ruled that the majority stake previously owned by businessman Konstantin Strukov should be transferred to the state.
The move was part of a wider pattern of nationalisations of assets of Russian companies and of Western firms exiting Russia. Last year, Moscow law firm NSP estimated that authorities had confiscated private assets worth some $50 billion since the start of the conflict in Ukraine.
The central bank said last October that the state had violated the rights of minority shareholders in UGC by not making an offer as required by law after the seizure. The new owner of UGC is expected to make the buyout offer after the purchase.
The auction was due to take place last year but was delayed as gold prices rallied and the state targeted a higher price for the stake. At current market prices the stake is valued at $1.6 billion.
($1 = 76.0000 roubles)
(Reporting by Anastasia Lyrchikova; Writing by Gleb Bryanski; Editing by Susan Fenton)
Russia is auctioning a 67.2% stake in gold producer UGC.
The UGC stake is valued at 140.4 billion roubles (about $1.9 billion).
The stake was seized as part of nationalisations, following a court ruling that transferred ownership from Konstantin Strukov to the state.
The auction will be held at the start of May.
The new owner is expected to make a buyout offer to minority shareholders as required by law.
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