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Evraz posted pretax profit of USD4.18 billion for 2021, more than three times higher than USD1.30 billion in 2020 on total segment revenue of USD14.16 billion, up 45% from USD9.75 billion. Evraz generated free cash flow of USD2.26 billion last year, doubled from USD1.02 billion in 2020.
The demerger of Evraz's coal business is expected to complete in late March 2022, the company said.
"We are conscious of the current geopolitical circumstances. We continue to monitor the situation and will keep you updated regarding any material developments that can influence our business," Chief Executive Officer Aleksey Ivanov said.
Despite a chorus of outrage at Russian President Vladimir Putin's move, the punishments have so far been seen by markets as well short of the most stringent.
While the latest measures from Washington target Russia's two largest banks and see controls on high-tech items aimed at crippling its defence and aerospace sectors, US President Joe Biden has not cut off oil exports.
We are conscious of the current geopolitical circumstances. We continue to monitor the situation and will keep you updated regarding any material developments that can influence our business."