Plans to build a massive gold plant have been halted as sanctions against Russia continue to mount. The sharp drop in imports necessary for investment projects is driving what may be Russia’s steepest economic decline in three decades. Western financial and technology sanctions imposed on Russia to punish the Kremlin for its unprovoked invasion of Ukraine have upended Polymetal’s plans. Russia’s economic output could fall by as much as 7 percent this year and 10 percent next year. Russia has not experienced consecutive years of economic decline since the early 1990s.The punishing sanctions are also forcing Russia to turn further to China for trade and investment. This will mean the boost in power for the Asian economy.
What would you do to resolve your projects being sidelined?