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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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Asian Airlines Re-route, Cancel Flights Due to India-Pakistan Fighting

Smoke billows after an artillery shell landed in the main town of Poonch district in India's Jammu region on May 7, 2025. (Photo by Punit PARANJPE / AFP)
Smoke billows after an artillery shell landed in the main town of Poonch district in India's Jammu region on May 7, 2025. (Photo by Punit PARANJPE / AFP)
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Asian Airlines Re-route, Cancel Flights Due to India-Pakistan Fighting

Smoke billows after an artillery shell landed in the main town of Poonch district in India's Jammu region on May 7, 2025. (Photo by Punit PARANJPE / AFP)
Smoke billows after an artillery shell landed in the main town of Poonch district in India's Jammu region on May 7, 2025. (Photo by Punit PARANJPE / AFP)

Several Asian airlines said on Wednesday they were re-routing or cancelling flights to and from Europe because of fighting between India and Pakistan.
India attacked Pakistan and Pakistani Kashmir and Pakistan said it had shot down five Indian fighter jets in the worst fighting in more than two decades between the nuclear-armed enemies, Reuters reported.
More than two dozen commercial flights were diverted to avoid Pakistan airspace. By Wednesday morning local time, airlines had cancelled 52 flights to or from Pakistan, according to FlightRadar24.
Taiwan's EVA Air said that it will adjust its flights to and from Europe to avoid airspace affected by the fighting between India and Pakistan for safety reasons. Shares were down about 1.7%.
One flight from Vienna will be diverted back to that city, while a flight from Taipei to Milan will be diverted to Vienna for refueling before continuing on to its destination, the airline said in a statement to Reuters.
Korean Air said it had begun rerouting its Seoul Incheon–Dubai flights on Wednesday, opting for a southern route that passes over Myanmar, Bangladesh, and India, instead of the previous path through Pakistani airspace.
Thai Airways said that flights to destinations in Europe and South Asia would be rerouted starting early on Wednesday morning, warning this could cause delays to some flights.
Vietnam Airlines said that the tensions between India and Pakistan had affected its flight plans and would provide details regarding re-routing schedules later.
Taiwan's China Airlines said it had activated its contingency plan and "taken a series of measures to ensure the safety of its passengers and crew". It did not elaborate. Its shares were down more than 2%.
The website of Taiwan's main international airport at Taoyuan, outside Taipei, showed that Wednesday's China Airlines non-stop flight to London had been cancelled.
Some flights from India to Europe were also seen taking longer routes. Lufthansa flight LH761 from Delhi to Frankfurt turned right towards the Arabian Sea near the western Indian city of Surat, taking a longer path compared to Tuesday, according to FlightRadar24.
Before Russia's invasion of Ukraine many Europe-bound flights from Taiwan overflew Russia, but Taiwanese airlines are now banned after Taipei joined in Western sanctions on Moscow and generally fly over India, Pakistan and Central Asia.