EVR Evraz Plc

By Kyle Morris

Evraz PLC said Thursday that it doesn't think U.K. financial sanctions over Russia apply to the company itself, and that it isn't involved in activities that could contribute to destabilizing Ukraine.

The steel and mining company, which operates mainly in Russia, confirmed that Russian oligarch Roman Abramovich--the billionaire owner of Chelsea FC who was sanctioned by the U.K. on Thursday--has 417.8 million shares in the company, or 28.64% of the issued capital.

Evraz said that over the last five years, only two directors have been appointed by Mr. Abramovich, and that it therefore doesn't consider him as a person exercising the effective control of the company.

The company hasn't "been involved in providing financial services, or making available funds, economic resources, goods or technology that could contribute to destabilizing Ukraine or undermining or threatening the territorial integrity, sovereignty or independence of Ukraine--which includes potentially supplying steel to the Russian military which may have been used in the production of tanks," it said.

Evraz said it supplies long steel to the infrastructure and construction sectors only.

Write to Kyle Morris at kyle.morris@dowjones.com

(END) Dow Jones Newswires

March 10, 2022 11:43 ET (16:43 GMT)

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