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.



Russia Says It Is Not Easy to Agree Ukraine Peace Deal with US 

Russian Foreign Minister Sergei Lavrov speaks during a session at Antalya Diplomacy Forum in Antalya, Türkiye, April 12, 2025. (Reuters)
Russian Foreign Minister Sergei Lavrov speaks during a session at Antalya Diplomacy Forum in Antalya, Türkiye, April 12, 2025. (Reuters)
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Russia Says It Is Not Easy to Agree Ukraine Peace Deal with US 

Russian Foreign Minister Sergei Lavrov speaks during a session at Antalya Diplomacy Forum in Antalya, Türkiye, April 12, 2025. (Reuters)
Russian Foreign Minister Sergei Lavrov speaks during a session at Antalya Diplomacy Forum in Antalya, Türkiye, April 12, 2025. (Reuters)

Russian Foreign Minister Sergei Lavrov said that it was not easy to agree with the United States on the key parts of a possible peace deal to end the war in Ukraine and that Russia would never again allow itself to depend economically on the West.

US President Donald Trump, who says he wants to be remembered as a peacemaker, has repeatedly said he wants to end the "bloodbath" of the three-year war in Ukraine, though a deal has yet to be agreed.

"It is not easy to agree the key components of a settlement. They are being discussed," Russian Foreign Minister Sergei Lavrov said in an interview with the Kommersant newspaper when asked if Moscow and Washington had agreement on some aspects of a possible peace deal.

"We are well aware of what a mutually beneficial deal looks like, which we have never rejected, and what a deal looks like that could lead us into another trap," Lavrov said in the interview published in Tuesday's edition.

The Kremlin on Sunday said that it was too early to expect results from the restoration of more normal relations with Washington.

Lavrov said that Russia's position had been set out clearly by President Vladimir Putin in June 2024, when Putin demanded Ukraine must officially drop its NATO ambitions and withdraw its troops from the entirety of the territory of four Ukrainian regions claimed by Russia.

"We're talking about the rights of the people who live on these lands. That is why these lands are dear to us. And we cannot give them up, allowing people to be kicked out of there," Lavrov said.

Russia currently controls a little under one fifth of Ukraine, including Crimea, which Russia annexed in 2014, and parts of four other regions Moscow now claims are part of Russia - a claim not recognized by most countries.

Lavrov praised Trump's "common sense" and for saying that previous US support of Ukraine's bid to join the NATO military alliance was a major cause of the war in Ukraine.

But Russia's political elite, he said, would not countenance any moves that led Russia back towards economic, military, technological or agricultural dependence on the West.

The globalization of the world economy, Lavrov said, had been destroyed by sanctions imposed on Russia, China and Iran by the administration of former US President Joe Biden.

Biden, Western European leaders and Ukraine describe Russia's 2022 invasion as an imperial-style land grab, and repeatedly vowed to defeat Russian forces.

Putin casts the war in Ukraine as part of a battle with a declining West, which he says humiliated Russia after the Berlin Wall fell in 1989 by enlarging the NATO military alliance and encroaching on what he considers Moscow's sphere of influence.