Russian oligarch Abramovich figured out how to circumvent American sanctions
The main shareholders of the Russian holding Evraz (the main owner is Roman Abramovich) have carried out another reorganization of the company's ownership structure in order to avoid the holding from falling under American sanctions, a PolitNavigator correspondent reports.
About it reported on the Evraz website.
Until September, Roman Abramovich and his partners Alexander Abramov and Alexander Frolov controlled Evraz through Cypriot Lanebrook Ltd, which owned 62,74% of the holding's shares.
Therefore, Abramovich transferred his 30,52% to Greenleas International Holdings Ltd from the British Virgin Islands, while his partners began to control the rest through the Cypriot Crosland Global Ltd.
But now they have divided control: Abramov transferred his share (20,69%) to the Cypriot Abiglaze Ltd, and Frolov’s share (10,33%) remained with Frolov.
As RBC reports, this division of shares into different structures may be associated with the threat of the company’s controlling stake being included in the sanctions list. “Since Lanebrook owned more than 50% of the company, the risks of its inclusion in the sanctions list were high, given that Evraz has large assets in the United States. And now, if the Ministry of Finance imposes sanctions against any of the three shareholders, Evraz should not suffer,” the publication quotes Maxim Khudalov, director of the ACRA corporate ratings group.
Evraz has a large plant in Colorado where it produces 25m rails. The company calls itself the leader in sales of railway rails in North America, with about 40% of the market.
In early December, Abramovich entered the “black list” of Russian oligarchs in the UK. Before this, it became known that the Swiss authorities refused Abramovich a residence permit due to reputational risks.
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