Interfax Russia reported that US financial institutions have been permitted to unblock shares & bonds of Severstal and Nordgold, which have been frozen since sanctions were imposed on them on 2 June 2 and through 2 June. Access to the securities is now permitted through 31 August. A clause to that effect was added US Treasury Office of Foreign Assets Control license to sell or transfer securities to Severstal and Nordgold, which is in effect until the end of this month.Severstal and Nordgold were included on the SDN List along with Mr Alexei Mordashov and his family members. Both Nordgold and Severstal had problems servicing their Eurobonds even before they were put on the SDN List, in the spring, after Mr Mordashov was put on the EU sanctions list.Severstal is a Russian company mainly operating in the steel and mining industry, headquartered in Cherepovets. Severstal is one of the world’s most efficient metals and mining companies. The Company was founded in 1955 at the Cherepovets Steel Mill in Russia. Severstal owns major industrial facilities in Russia, Ukraine, Kazakhstan, France, and Italy, as well as in several African countries. Severstal is listed on the Moscow Exchange and LSE and is one of the largest steel companies in Russia. The company is majority-owned and controlled by billionaire Mr Alexey Mordashov.
Interfax Russia reported that US financial institutions have been permitted to unblock shares & bonds of Severstal and Nordgold, which have been frozen since sanctions were imposed on them on 2 June 2 and through 2 June. Access to the securities is now permitted through 31 August. A clause to that effect was added US Treasury Office of Foreign Assets Control license to sell or transfer securities to Severstal and Nordgold, which is in effect until the end of this month.Severstal and Nordgold were included on the SDN List along with Mr Alexei Mordashov and his family members. Both Nordgold and Severstal had problems servicing their Eurobonds even before they were put on the SDN List, in the spring, after Mr Mordashov was put on the EU sanctions list.Severstal is a Russian company mainly operating in the steel and mining industry, headquartered in Cherepovets. Severstal is one of the world’s most efficient metals and mining companies. The Company was founded in 1955 at the Cherepovets Steel Mill in Russia. Severstal owns major industrial facilities in Russia, Ukraine, Kazakhstan, France, and Italy, as well as in several African countries. Severstal is listed on the Moscow Exchange and LSE and is one of the largest steel companies in Russia. The company is majority-owned and controlled by billionaire Mr Alexey Mordashov.
