U.K. Government Sanctions Russian Steel Manufacturer Evraz
- U.K. says Evraz is strategic to Russia in Ukraine offensive
- Abramovich owns almost 29% stake in London-listed company
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The U.K. said Thursday it has sanctioned steel manufacturing and mining company Evraz Plc because of its strategic significance to Russia, as part of measures to punish the Kremlin for the invasion of Ukraine.
Evraz, in which billionaire Roman Abramovich holds an almost 29% stake, produces 28% of all Russian railway wheels and 97% of rail-tracks in Russia, the U.K. government said.