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RE 'A Sanction is supposed to be a penalty not a forced liquidation'
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Lets say you club together with some mates, don't disclose your position, and then drive up or down the SP. Do you think the FCA will mind, will they let you off the fine or sentence???
The word Sanction has been used here as an Umbrella, unfortunately the Oligarch who's yacht has been pinched is unlikely to complain...
"A Sanction is supposed to be a penalty, not a forced liquidation. They also had to change there Sanctions powers several weeks in, due to crossing grey areas."
The EU changed some sanctions to suit themselves re: Oil/Gas, so they (similar to UK) can apply sanctions how they see fit, to fit their needs.
Re: "A Sanction is supposed to be a penalty, not a forced liquidation"
Where does it say that? The sanctions are essentially about encouraging firms to divest from Russia and now stopping firms from offering services to Russia. Where that puts a UK listed company whose only asset is subsidiaries in Russia ... the UK/EU won't be worried about a UK listed gold mine.
So, it puts POG PLC in a bind, which is what I guess they are trying to get out of.
Pog will just sell gold to a different buyer, this new appointment is probably here to navigate sanctions etc and make sure we don’t get told off lol
What about the banking, swift, debt repayment, blocking sale of gold...A Sanction is supposed to be a penalty, not a forced liquidation. They also had to change there Sanctions powers several weeks in, due to crossing grey areas.
Its all very grey, different shades of grey, and a watermark!!!
It would make more sense if the Russians where instigating the sanctions to take over
But no it’s the uk stopping the bonds etc being paid
It’s just a knee jerk reaction not thought out
I’m still not selling in till the end
"there must be some legal ramifications if ..."
None as far as I'm aware. Government has the 'Sanctions and Money-Laundering Act'. So perfectly legal to introduce sanctions.
I don't know what is going to happen, however given that investors across multiple countries have been affected I would imagine there must be some legal ramifications if you force a company to default on a global market...I did read the FCA rules when these Sanctions came about and half the gov were violating the rule book, there are statements over 'fair and orderly market participation,' 'price manipulation', 'investor protection,' 'market integrity;' would you consider what has happened to be 'normal market risk?'