UK’s Foreign, Commonwealth & Development Office announced that the UK Government has sanctioned Evraz plc as steel manufacturing and mining company operates in sectors of strategic significance to the Government of Russia and produces 28% of all Russian railway wheels and 97% of rail-tracks in Russia, which Russia uses rail to move key military supplies and troops to the frontline in Ukraine. Along with existing measures, this action will further deter companies operating in strategic sectors in Russia. The asset freeze means no UK citizen or company can do business with them. Evraz plc’s core operations are in Russia where they are a major employer. These sanctions will further chip away at Putin’s financial reserves and siege economy, and support Ukraine’s continued resistance.Evraz’s registered office is in London’s Mayfair district, but it has vast mining and steelmaking operations in Russia, with more than 70,000 employees.Evraz's main shareholder is Russian oligarch Mr Roman Abramovich, who is already under sanctions, and its main operations are in Russia. Mr Roman Abramovich – With estimated wealth of USD 14 billion, Mr Abramovich owns stakes in steel giant Evraz, Norilsk Nickel and the vast majority of the UK's Chelsea FC soccer team. Mr Abramovich spent UD 2.5 billion in the Chukotka region where he worked as governor and chairman of the local Duma from 2001 to 2013. It was a shock then to see Mr Abramovich relinquish the care and stewardship of the Chelsea FC club on Saturday evening amid the ongoing conflict between Russia and Ukraine.Russia is famous for its oligarchs, who emerged in the wake of the dissolution of the USSR, which saw accumulation of fabulous wealth in the hands of a few. Many of these individuals went on to become some of the richest and most influential individuals in Russia, often having significant political power as well. The Russian steel sector is dominated by themMr Vladimir Lisin (NLMK) – 17.4 million tonnesMr Roman Abramovich (EVRAZ) - 13.6 million tonnesMr Alisher Usmanov (Metalloinvest) – 4.8 million tonnesMr Viktor Rashnikov (MMK) - 11.6 million tonnesMr Alexey Mordashov (Severstal) - 11.3 million tonnesMr Igor Zyuzin (Mechel) – 3.5 million tonnes
UK’s Foreign, Commonwealth & Development Office announced that the UK Government has sanctioned Evraz plc as steel manufacturing and mining company operates in sectors of strategic significance to the Government of Russia and produces 28% of all Russian railway wheels and 97% of rail-tracks in Russia, which Russia uses rail to move key military supplies and troops to the frontline in Ukraine. Along with existing measures, this action will further deter companies operating in strategic sectors in Russia. The asset freeze means no UK citizen or company can do business with them. Evraz plc’s core operations are in Russia where they are a major employer. These sanctions will further chip away at Putin’s financial reserves and siege economy, and support Ukraine’s continued resistance.Evraz’s registered office is in London’s Mayfair district, but it has vast mining and steelmaking operations in Russia, with more than 70,000 employees.Evraz's main shareholder is Russian oligarch Mr Roman Abramovich, who is already under sanctions, and its main operations are in Russia. Mr Roman Abramovich – With estimated wealth of USD 14 billion, Mr Abramovich owns stakes in steel giant Evraz, Norilsk Nickel and the vast majority of the UK's Chelsea FC soccer team. Mr Abramovich spent UD 2.5 billion in the Chukotka region where he worked as governor and chairman of the local Duma from 2001 to 2013. It was a shock then to see Mr Abramovich relinquish the care and stewardship of the Chelsea FC club on Saturday evening amid the ongoing conflict between Russia and Ukraine.Russia is famous for its oligarchs, who emerged in the wake of the dissolution of the USSR, which saw accumulation of fabulous wealth in the hands of a few. Many of these individuals went on to become some of the richest and most influential individuals in Russia, often having significant political power as well. The Russian steel sector is dominated by themMr Vladimir Lisin (NLMK) – 17.4 million tonnesMr Roman Abramovich (EVRAZ) - 13.6 million tonnesMr Alisher Usmanov (Metalloinvest) – 4.8 million tonnesMr Viktor Rashnikov (MMK) - 11.6 million tonnesMr Alexey Mordashov (Severstal) - 11.3 million tonnesMr Igor Zyuzin (Mechel) – 3.5 million tonnes
