Posted on 26 Aug 2024
The US is piling more sanctions on metals and mining companies in Russia and elsewhere who are seen as providing support for the invasion of Ukraine, Kallanish hears from federal agencies.
The Treasury and State departments on Friday announced a sweeping set of actions against approximately 400 companies and individuals “whose products and services enable Russia to sustain its war effort and evade sanctions,” Treasury states in a press release.
The new announcement adds sanctions to steel companies including several Russian-domiciled Evraz affliliates and PAO Magnitogorskiy Metallurgicheskiy Kombinat (MMK), the nation’s largest steelmaker. Iron ore and coking coal providers are targeted as well.
“Guided by commitments made by President Biden and G7 leaders to reduce Russia’s revenues from metals, today Treasury is targeting entities involved in Russia’s metals and mining sector, including steel, iron and coal mining firms and auxiliary firms that provide specialised services to Russian metals and mining companies,” tbe department says in its statement.
MMK operations were already included in earlier rounds of Ukraine war-related sanctions by the US and UK, as were Mechel, TMK and OMK (see Kallanish 28 February). Treasury says the new announcement was timed to coincide with Ukrainian Independence Day, marked annually on 24 August.
The Evraz sites specified in the Friday sanctions list are AO Evraz Kachkanarski Gorno Obogatitelny Kombinat, AO Evraz Nizhnetagilski Metallurgicheski Kombinat (NTMK), AO Evraz Obedinenny Zapadno Sibirski Metallurgicheski Kombinat and AO Evraz Vanadi Tula and AO Evraz Market.
Other metals and mining companies included on Friday are AO Obyedinennaya Ugolnaya Kompaniya Yuzhkuzbassugol, GRK Bystrinskoe, OOO Raspadskaya Ugolnaya, OOO Shakhta Alardinskaya, OOO Shakhta Esaulskaya and PAO Raspadskaya.
Several Russian companies that provide support to the metals and mining industry, ranging from construction and financial services to engineering and freight transport, were sanctioned on Friday. Italian and Turkish machine tool manufacturers also are targets.
Source:Kallanish
