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UK Sanctions Russian Steelmaker Evraz, Part-Owned by Billionaire Abramovich

Roman Abramovich. (AP)
Roman Abramovich. (AP)
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UK Sanctions Russian Steelmaker Evraz, Part-Owned by Billionaire Abramovich

Roman Abramovich. (AP)
Roman Abramovich. (AP)

The British government said on Thursday it had sanctioned steel manufacturing and mining company Evraz, whose biggest shareholder is sanctioned billionaire Roman Abramovich, in response to Russia's invasion of Ukraine.

"The steel manufacturing and mining company operates in sectors of strategic significance to the Government of Russia," the government said in a statement.

"Today's asset freeze means no UK citizen or company can do business with them."

The government issued a separate licence which said people could continue business operations involving Evraz's North American subsidiaries.

Britain said Evraz produces 28% of all Russian railway wheels and 97% of rail-tracks in Russia, making it of vital significance as Russia uses rail to move key military supplies and troops to the frontline in Ukraine.

Shares in Evraz have been suspended from trading since March 10, when Britain imposed sanctions on Abramovich. The firm said on March 11 that 10 members of its board had quit, leaving only the chief executive.

Abramovich owns a 28.64% stake in the company, and Evraz has previously said he does not have effective control of the company.

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China's Xi Ready to Work with EU to Expand Ties, Handle Friction

File photo: 14 February 2023, China, Beijing: President of China Xi Jinping meets with Iranian President Ebrahim Raisi (not pictured). (Iranian Presidency/dpa)
File photo: 14 February 2023, China, Beijing: President of China Xi Jinping meets with Iranian President Ebrahim Raisi (not pictured). (Iranian Presidency/dpa)
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China's Xi Ready to Work with EU to Expand Ties, Handle Friction

File photo: 14 February 2023, China, Beijing: President of China Xi Jinping meets with Iranian President Ebrahim Raisi (not pictured). (Iranian Presidency/dpa)
File photo: 14 February 2023, China, Beijing: President of China Xi Jinping meets with Iranian President Ebrahim Raisi (not pictured). (Iranian Presidency/dpa)

President Xi Jinping said China was ready to work with European Union leaders to expand mutual openness and properly handle frictions and differences, the official news agency Xinhua reported on Tuesday.

The remarks come on the 50th anniversary of diplomatic ties between China and the European Union as they work to thaw ties amid global trade uncertainty fueled by sweeping US tariffs, Reuters said.

Xi did not mention the United States in his remarks, but Beijing has been keen to forge closer economic and political links with Europe to limit the damage from President Donald Trump's tariffs on most of its exports to the United States.

"Healthy, stable China-EU ties not only promote mutual achievements, but also illuminate the world," he said.

Xi also called on the EU to jointly safeguard fairness and justice, and oppose unilateral bullying, describing their relations as one of the world's most influential, Xinhua added.

China said it would welcome visits by European Council President Antonio Costa and European Commission President Ursula von der Leyen at an appropriate time to jointly hold a new round of meeting of leaders of both sides.

China and the EU will hold high-level dialogues on strategy, economy and trade, green development and digitalisation among a series of events this year, Chinese foreign ministry spokesperson Lin Jian told a press conference on Tuesday.

The ministry also confirmed that China and the European Parliament had decided to free up mutual exchanges.

Last week, the EU said China would lift sanctions on members of the European Parliament and its subcommittee on human rights. The sanctions were imposed in 2021 over Western measures against Chinese officials accused of the mass detention of Muslim Uyghurs in the far western region of Xinjiang.

"Under the current circumstances, both sides believe it is very important for China and Europe to strengthen dialogue and cooperation," Lin, the ministry spokesperson, told reporters.

He expressed confidence that renewed talks would "inject new impetus" in the development of China-EU relations.