Evraz PLC - Russia-focused steelmaker based in London - Sends official letter to Office of Financial Sanctions Implementation to clarify that Roman Abramovich is not exercising effective control over the company, despite holdings a 29% interest.

Earlier Friday, Evraz suspended the demerger of its coal assets under Russia-based coal mining company PJSC Raspadskaya, while it anticipates clarification regarding regulatory restrictions, both from the UK Office of Financial Sanctions Implementation and the Russian authorities.

The UK Financial Conduct Authority suspended the listing of Evraz on Thursday. The FCA said it suspended the FTSE 100-listed company ‘in order to protect investors pending clarification of the impact of UK sanctions’.

Roman Abramovich, a 29% shareholder in Evraz, on Thursday was sanctioned by the UK for his links to Russian President Vladimir Putin.

In addition, Evraz appoints Chief Financial Officer Nikolay Ivanov as executive director of the board with immediate effect.

Current stock price:suspended, last traded at 81.68 pence

12-month change: down 86%

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