UK freezes assets of Abramovich’s steel group

The British government announced on Thursday that it had frozen the assets of the steel group Evraz, whose main shareholder is Russian billionaire Roman Abramovich, which was hit by sanctions imposed on oligarchs close to the Kremlin in response to the invasion of Ukraine.

Evraz “operates in sectors of strategic importance” and produces “28% of all wheels of Russian railways and 97% of state rail”, which “is of the utmost importance, because Russia uses railways to transport military equipment and troops to the front lines. . in Ukraine”, insisted the British executive, confirming his decision.

Adding to the previous sanctions, “this action will further deter companies operating in strategic sectors in Russia,” the government stressed in a statement, specifying that from now on “no British nationals or companies may do business” with Evraz, whose core is located in Russia.

Since Russia’s invasion of Ukraine on February 24, England have sanctioned more than 100 companies and more than 1,000 individuals, including Abramovich, owner of London football club Chelsea, which it had to sell.

Contacted by AFP, Evraz did not immediately react. The company has always defended that the Russian oligarchs, the “important” shareholders with 28.64% of its capital, do not control the group.


Roderick Gilbert

"Entrepreneur. Internet fanatic. Certified zombie scholar. Friendly troublemaker. Bacon expert."

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