UK faces ‘extraordinary’ $1bn claim from mining company

ENRC seeking compensation for losses it says were result of fraud inquiry dropped last year, court hears

The UK government faces an “extraordinary” $1bn damages claim, a court has been told, in a lawsuit brought by a mining company that has been bankrolled by Russian banks targeted by sanctions.

ENRC, the UK-based arm of a global mining conglomerate belonging to oligarchs, is seeking compensation for losses it claims it suffered as a result of a decade-long Serious Fraud Office (SFO) investigation that was dropped last year, according to court documents.