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UK imposes sanctions against Evraz

UK imposes sanctions against Evraz

The UK authorities have added mining and smelting company Evraz to the sanctions list. In turn, this means freezing its assets in the country. This is stated in a statement issued by the Foreign Office of the United Kingdom on Thursday. It clarifies that Evraz is engaged in “sectors of strategic importance for the Russian government.”

“Evraz produces 28% of all Russian railway wheels and 97% of rail tracks in Russia. These are very significant [rates], as Russia uses railways to provide military supplies and send troops to the front line in Ukraine,” the statement said.

The British Foreign Office pointed out that the sanctions against Evraz mean a ban on British individuals and legal entities from doing business with the company.

In total, since the beginning of the special military operation of the Russian Federation in Ukraine, Great Britain has introduced restrictions against more than 1.6 thousand Russian politicians, businessmen, officials, journalists and enterprises. According to the Ministry of Foreign Affairs, about 20 Russian banks with a total assets of 940 billion pounds (over $1.2 trillion), as well as more than 100 large businessmen and their relatives, whose total assets are estimated by London at more than 170 billion pounds (about $220 billion).