Roman Abramovich10 Mar 2022 17:16
At last, sanctions have been placed on Roman Abramovich.
At the other end of the large-caps, Evraz ended the worst performer, down 13%, as the Russian steelmaker denied involvement in supplying Russia to aid in Ukraine invasion. It confirmed that it supplies long steel to infrastructure and construction sectors only.
In addition, Evraz clarified that Russian billionaire Roman Abramovich has 29% holding in the company but denied any direct control by him.
Abramovich on Thursday was sanctioned by the UK government for his links to Russian President Vladimir Putin. Branded a pro-Kremlin oligarch, Abramovich was targeted with an asset freeze and a travel ban on Thursday after ministers came under sustained pressure to target him over Moscow's ongoing invasion of Ukraine.
The updated sanctions list, which hits seven new elite individuals, said Abramovich has had a "close relationship for decades" with Putin, which the Chelsea football club owner has previously denied.
The move came as the UK Financial Conduct Authority temporarily suspended the listing of Evraz earlier on Thursday. The FCA said it suspended the FTSE 100-listed shares of the steel maker and miner "in order to protect investors pending clarification of the impact of UK sanctions".
In response, Evraz considers that the UK financial sanctions on Abramovich will not apply to the company.