Russian steel maker MMK said that “We consider sanctions against VF Rashnikov, MMK and its subsidiaries unreasonable and counterproductive. The company is studying the decision taken by the US authorities, assessing its potential effect and the possibility of challenging the imposed sanctions by all available means.” US Department of the Treasury’s Office of Foreign Assets Control published a document on 2 August according to which blocking sanctions SND List are imposed against the Chairman of the Board of Directors and the controlling shareholder of Magnitogorsk Iron and Steel Works Mr Viktor Rashnikov, MMK and its subsidiaries.” Interfax Russia separately reported that US Office of Foreign Assets Control has issued a number of licenses to conduct transactions with companies on the SDN List in connection with the inclusion of Russian steelmaker MMK a in the sanctions list. A license to wind down transactions with MMK is valid until 1 September and a license to divest their securities will be in effect until 3 October. A long license, for six months to 31 January 2023, has been granted to wind down transactions with MMK's Turkish plant MMK Metalurji.
Russian steel maker MMK said that “We consider sanctions against VF Rashnikov, MMK and its subsidiaries unreasonable and counterproductive. The company is studying the decision taken by the US authorities, assessing its potential effect and the possibility of challenging the imposed sanctions by all available means.” US Department of the Treasury’s Office of Foreign Assets Control published a document on 2 August according to which blocking sanctions SND List are imposed against the Chairman of the Board of Directors and the controlling shareholder of Magnitogorsk Iron and Steel Works Mr Viktor Rashnikov, MMK and its subsidiaries.” Interfax Russia separately reported that US Office of Foreign Assets Control has issued a number of licenses to conduct transactions with companies on the SDN List in connection with the inclusion of Russian steelmaker MMK a in the sanctions list. A license to wind down transactions with MMK is valid until 1 September and a license to divest their securities will be in effect until 3 October. A long license, for six months to 31 January 2023, has been granted to wind down transactions with MMK's Turkish plant MMK Metalurji.
