After initially saying western sanctions would not affect the company, Kinross reversed course, announcing on March 2 that it was in the process of suspending operations in Russia, the biggest contributor to the company's operating earnings. However, it walked back those remarks and continued operations there. A Kinross spokesperson told the Financial Post earlier this month that the company was obligated to maintain the assets as a condition of the sale to Jersey-based Highland Gold, but that any profits generated would remain in Russia and be ploughed into working capital for the mine, with Kinross deriving no benefit.