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On May 5, the UK government decided to place sanctions on Russian mining and steel company Evraz as its strategic position is important to the Russian government.
Evraz operates mostly in Russia and produces 28% of Russian railway wheels and 97% of the country’s rail tracks. Russia uses rails to transport key military supplies and troops to Ukraine.
It was believed that the measures may further stop the company’s operating in strategic sectors in Russia. Also, the asset freeze will result in preventing UK citizens or companies from doing business with Ervaz.
Evraz denied that it has been providing services, funds, resources, goods, or technology to destabilize Ukraine and it did not supply steel to the Russian military, saying that it sells steel to infrastructure and construction sectors only.
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