The UK Government has announced that Evraz Plc has been sanctioned. The steel manufacturing and mining company operates in sectors of strategic significance to the Government of Russia. The largest shareholder of the company is Russian billionaire Roman Abramovich.
Evraz Plc produce 28% of all Russian railway wheels and 97% of rail-tracks in Russia. This is of vital significance as Russia uses rail to move key military supplies and troops to the frontline in Ukraine.
These sanctions will further chip away at Putin’s financial reserves and siege economy, and support Ukraine’s continued resistance.
