Uzbekistan: sanctions against Gazprombank threaten expansion of copper mine

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The U.S. Treasury Department’s decision to impose sanctions on Gazprombank poses a potential major challenge to Uzbekistan’s growing mining industry, which has relied on the Russian bank for financing the expansion of the $4.8-billion copper mine project, expected to nearly double the country’s copper production. With Gazprombank now excluded from the international payment system, Uzbekistan…