UK sanctions Russian steelmaker Evraz (updated)

Evraz

05/05/2022 17:19

(Adds detail)
    LONDON, May 5 (Reuters) - The British government said on
Thursday it had sanctioned steel manufacturing and mining
company Evraz, whose biggest shareholder is sanctioned
billionaire Roman Abramovich, in response to Russia's invasion
of Ukraine.
    "The steel manufacturing and mining company operates in
sectors of strategic significance to the Government of Russia,"
the government said.
    "Today's asset freeze means no UK citizen or company can do
business with them."   
    Britain said Evraz produces 28% of all Russian railway
wheels and 97% of rail-tracks in Russia, making it of vital
significance as Russia uses rail to move key military supplies
and troops to the frontline in Ukraine.
    Shares in Evraz have been suspended from trading since March
10, when Britain imposed sanctions on Abramovich. The firm said
on March 11 that 10 members of its board had quit, leaving only
the chief executive.  urn:newsml:reuters.com:*:nL5N2VE1L4

 (Reporting by Kylie MacLellan; editing by William James)
 ((kylie.maclellan@thomsonreuters.com;))