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.



Larijani Urges Trump to Define Economic Interests with Iran

Larijani during a press interview (Tasnim) 
Larijani during a press interview (Tasnim) 
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Larijani Urges Trump to Define Economic Interests with Iran

Larijani during a press interview (Tasnim) 
Larijani during a press interview (Tasnim) 

Ali Larijani, a senior advisor to Iran’s Supreme Leader, warned that any attack on Iran “will not go unanswered” and called on former US President Donald Trump to “define economic interests with Iran.” His remarks came two days after he suggested that Tehran could reconsider its nuclear program in response to any American military strike.

On Sunday, Trump threatened Iran with an unprecedented military response and further economic pressure if it failed to reach an agreement with Washington to curb its nuclear ambitions.

Earlier, on March 7, Trump announced he had sent a letter to Supreme Leader Ali Khamenei, urging negotiations on a new nuclear deal or facing possible military action.

In response, Khamenei warned on Monday that the US would receive a “strong slap” if it acted on Trump’s threats.

Hours later, Larijani cautioned that continued pressure on Iran could push the country toward developing nuclear weapons. In an interview with state television, he said: “The Supreme Leader’s fatwa forbids nuclear weapons, but if the US makes a mistake, the Iranian people may demand their production.” He added that even “rational Americans” understood that attacking Iran would only accelerate its nuclear ambitions.

On Wednesday, Larijani shared part of his television interview on his X account, stating: “Mr. Trump is a talented businessman who has built significant wealth. The US can define economic interests with Iran.”

He continued: “Trump claims to seek peace, so he should not speak the language of threats and war. Any attack on Iran will have consequences. We have experienced military leaders ready to respond.”

Larijani previously served as Iran’s parliamentary speaker during negotiations for the 2015 nuclear deal, which lifted US sanctions in exchange for restrictions on Tehran’s nuclear program. Western companies signed contracts with Iran following the agreement, but Khamenei later blocked economic cooperation with American firms.

“The catastrophic failures in our region, which cost previous US administrations more than $7 trillion, are proof that military intervention is not the answer,” Larijani added.

A day earlier, Iranian diplomat Abbas Araghchi said Tehran rejected direct talks with Washington due to “threats” and “bullying” by the US. “We do not negotiate under pressure, only as equals,” he said, without providing further details.

Iran has rolled back key commitments under the nuclear deal in two phases. The first began in May 2019, when Tehran announced a “gradual withdrawal” from the agreement. The second came under US President Joe Biden, who sought but failed to revive the deal.

In February 2021, Iran halted compliance with the Additional Protocol of the Non-Proliferation Treaty and began enriching uranium to 20%, later increasing it to 60% at its Fordow and Natanz facilities.

While Tehran insists its nuclear program is purely peaceful, Western powers argue there is no credible civilian justification for such high levels of uranium enrichment. The International Atomic Energy Agency (IAEA) has noted that no country has enriched uranium to these levels without ultimately developing nuclear weapons.