Russia's Polyus Gold may delist from London

Moscow - Russia's biggest gold miner Polyus Gold is considering delisting from London, Kommersant newspaper said on Wednesday, the first Russian company to suggest it may heed a call by officials to bring assets home to survive Western sanctions.

Polyus, a London-listed and Jersey-registered firm with assets in Russia, plans to discuss the possible delisting at the next meeting of its board of directors, the newspaper said, citing unnamed sources.

Gold bars weighing between 50 grams and 1 kilo are displayed in this file photograph. Credit: REUTERS

Polyus, part-owned by businessman Suleiman Kerimov, declined to comment.

On Tuesday, First Deputy Prime Minister Igor Shuvalov urged companies listed on foreign stock exchanges to consider re-listing in Moscow to protect themselves from sanctions imposed by the West over Russia's annexation of Crimea.

Shuvalov's remarks were the latest in a campaign backed by President Vladimir Putin to encourage politicians and businessmen to return from the “offshore shadows” and stop spiriting cash out of the country to boost a flagging economy.

More than 10 of Russia's leading companies are registered abroad, most lead by the country's richest tycoons. - Reuters