Evraz board resigns after sanctions imposed on Roman Abramovich

The official government sanctions announcement on Thursday also claimed that Abramovich effectively controls the company, that it may have made steel for Russian tanks and that it supplied goods and services to the Russian government that could contribute to the invasion of Ukraine.

Evraz denied the claims and said it did not expect the company itself to be hit with sanctions. Abramovich did not have “effective control” of the company, it said in a statement to the stock market, highlighting that he owned less than 50% and could appoint only three of 11 board members. “In view of the aforesaid, the company considers that the UK financial sanctions shall not apply to the company itself,” it said.Evraz denied its steel was used to build Russian tanks, saying it provided steel only to the “infrastructure and construction sectors”.

The company also denied “that it is or has been involved in providing financial services, or making available funds, economic resources, goods or technology that could contribute to destabilising Ukraine or undermining or threatening the territorial integrity, sovereignty or independence of Ukraine – which includes potentially supplying steel to the Russian military which may have been used in the production of tanks.

On Wednesday, Evraz had distanced itself from Abramovich and two other directors, as well as cancelling a

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