Posted on 16 May 2023
President of Ukraine Volodymyr Zelenskyi signed decrees on May 12, imposing sanctions on 13 individuals and 28 legal entities that helped Russia maintain control over Ukrainian steelmaker Zaporizhstal, according to the President’s official social media account on Friday, May 12.
President Volodymyr Zelensky has initiated the process of seizing the Russian part of the company.
This move is aimed at ensuring that Zaporizhstal operates in the best interest of Ukraine and its people, effectively curtailing Russia's influence and mitigating the economic damage caused by the Russian invasion.
According to Decrees No. 275/2023, No. 276/2023 and No. 277/2023, the Ministry of Foreign Affairs of Ukraine should inform the competent authorities of the European Union, the United States of America and other countries about the application of sanctions and raise the issue of introducing similar restrictive measures.
Zaporozhstal is Ukraine’s fully integrated steelmaker, producing hot-rolled and cold-rolled steel.
Metinvest Holding owns a 49% stake in Zaporizhstal.
Source:Kallanish
