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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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US Imposes Sanctions on Vessels Linked to Iran, Treasury Website Says

A crew member raises the Iranian flag on Iranian oil tanker Adrian Darya 1, previously named Grace 1, as it sits anchored after the Supreme Court of the British territory lifted its detention order, in the Strait of Gibraltar, Spain, August 18, 2019. REUTERS/Jon Nazca
A crew member raises the Iranian flag on Iranian oil tanker Adrian Darya 1, previously named Grace 1, as it sits anchored after the Supreme Court of the British territory lifted its detention order, in the Strait of Gibraltar, Spain, August 18, 2019. REUTERS/Jon Nazca
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US Imposes Sanctions on Vessels Linked to Iran, Treasury Website Says

A crew member raises the Iranian flag on Iranian oil tanker Adrian Darya 1, previously named Grace 1, as it sits anchored after the Supreme Court of the British territory lifted its detention order, in the Strait of Gibraltar, Spain, August 18, 2019. REUTERS/Jon Nazca
A crew member raises the Iranian flag on Iranian oil tanker Adrian Darya 1, previously named Grace 1, as it sits anchored after the Supreme Court of the British territory lifted its detention order, in the Strait of Gibraltar, Spain, August 18, 2019. REUTERS/Jon Nazca

The United States imposed sanctions on Thursday on 29 vessels and their management firms, the Treasury Department said, as Washington continues targeting Tehran's "shadow fleet" it says exports Iranian petroleum and petroleum products, Reuters reported.

The targeted vessels and companies have transported hundreds of millions of dollars of the products through deceptive shipping practices, Treasury said.

Thursday's action also targets businessman Hatem Elsaid Farid Ibrahim Sakr, whose companies are associated with seven of the vessels cited, as well as multiple shipping companies.

World

Zelenskiy Says Ukraine Faces Foreign Aid Shortfall of up to 50 billion Euros Next Year

Ukrainian President Volodymyr Zelensky. File Photo/The AP
Ukrainian President Volodymyr Zelensky. File Photo/The AP
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Zelenskiy Says Ukraine Faces Foreign Aid Shortfall of up to 50 billion Euros Next Year

Ukrainian President Volodymyr Zelensky. File Photo/The AP
Ukrainian President Volodymyr Zelensky. File Photo/The AP

Ukraine is facing a foreign aid shortfall of 45-50 billion euros ($53-59 billion) in 2026, President Volodymyr Zelenskiy said on Thursday, Reuters reported.

He added that if Kyiv did not receive a first tranche of a loan secured by Russian assets by next spring, it would have to significantly cut drone production.

Speaking in Brussels as EU leaders were set to take a decision on Moscow's seized sovereign wealth, Zelenskiy said this would mean that Ukraine would have far fewer drones than Russia, and would not be able to conduct long-range strikes on Russian energy facilities.

World

China Says Arms Trade With Cambodia, Thailand Unrelated to Border Conflict

Flags flutter at an entrance of Thai-Chinese Rayong Industrial Zone in Rayong province, east of Bangkok, Thailand, April 7, 2016. REUTERS/Chaiwat Subprasom
Flags flutter at an entrance of Thai-Chinese Rayong Industrial Zone in Rayong province, east of Bangkok, Thailand, April 7, 2016. REUTERS/Chaiwat Subprasom
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China Says Arms Trade With Cambodia, Thailand Unrelated to Border Conflict

Flags flutter at an entrance of Thai-Chinese Rayong Industrial Zone in Rayong province, east of Bangkok, Thailand, April 7, 2016. REUTERS/Chaiwat Subprasom
Flags flutter at an entrance of Thai-Chinese Rayong Industrial Zone in Rayong province, east of Bangkok, Thailand, April 7, 2016. REUTERS/Chaiwat Subprasom

China said on Thursday its arms trade with Thailand and Cambodia is unrelated to the current conflict between the Southeast Asian neighbours, with which Beijing has close ties.

"We hope relevant parties will refrain from making subjective speculation and malicious hype," the Chinese Defense Ministry said in response to reports that Thai troops seized Chinese-made weapons from Cambodian positions as border clashes between the two nations reignited, Reuters reported.

Beijing hopes the two countries can reach a ceasefire as soon as possible, the ministry said, adding that China will continue to advocate for peace and talks.

Border clashes between Thailand and Cambodia resumed this month and have killed more than 40 people and displaced over half a million in both countries.

China's Foreign Minister Wang Yi, in separate calls with his Thai and Cambodian counterparts on Thursday, also called for an immediate ceasefire and criticised "false information" that he said was aimed at smearing China's ties with the two countries.

"As a friend and close neighbour of both Cambodia and Thailand, China least wants to see the two sides engage in armed conflict, and is deeply saddened by civilian casualties caused by the clashes," the Foreign Ministry quoted Wang as saying.

China will continue to play a constructive role in facilitating peace, Wang said, urging both countries to protect the safety of Chinese projects and personnel.

Beijing last week warned Chinese citizens to leave border areas after media reports of injuries.

The Chinese Foreign Ministry said on Wednesday a special envoy for Asian affairs would be visiting Cambodia and Thailand on Thursday to conduct mediation.