Russia's Finance Minister Siluanov does not support nationalizing goldminers; promises to solidify control over operations

MOSCOW. July 9 (Interfax) - Nationalization of Russia's private goldmining companies would be an excessive measure, though solidifying control over their operations is necessary, Finance Minister Anton Siluanov said in response to questions from State Duma deputies.

"There was a question about gold: Do private companies pay taxes, should they be nationalized? [...] I think that they should not be nationalized. After all, this is a private business. However, they should be under control," Siluanov said, recalling that an e-system for tracking goldminers' operations has been introduced in order to ensure full implementation of tax and social obligations and to improve the transparency of companies' operations.

"We are also currently solidifying control over the mining operations of enterprises involved in these operations, and we are intensifying control over export operations. Therefore, I think that there is no need for any drastic measures, such as nationalization, and so on. However, control over activities is necessary, and control over activities will be ensured," Siluanov said.