A steel company says it has lost a third of its sales after its Russian oligarch owner was sanctioned | Businessinsider

By sanctioning Mordashov on February 28, the EU had cut off around a third of Severstal's sales, Anastasia Mishanina, a spokesperson for the company, told Insider

. The company sells around 11 million tons of steel every year, with between 3 and 3.5 million going to EU countries, she said. "We are now in the process of redirecting these volumes to the alternative markets including Middle East, Asia, Africa, and South America," Mishanina told Insider.that Citibank had"frozen" a test payment Severstal made on March 16"due to regulatory investigations." This prevented Severstal from making a $12.6 million interest payment on an $800 million bond, the company said.

Severstal said on Tuesday that even though both the company and Mordashov hadn't been sanctioned by the US, it

Ireland Ireland Latest News, Ireland Ireland Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

World's largest aircraft leasing company files $3.5bn insurance claim over aircraft stuck in Russia | BusinessinsiderWorld's largest aircraft leasing company files $3.5bn insurance claim over aircraft stuck in Russia
Source: BISouthAfrica - 🏆 34. / 51 Read more »

The Taliban have banned women in Afghanistan from taking flights without company of male relative | BusinessinsiderThe Taliban have told airlines in Afghanistan that women cannot fly unless they're accompanied by a male relative, in the latest setback to women's rights.
Source: BISouthAfrica - 🏆 34. / 51 Read more »

World's largest aircraft leasing company files $3.5bn insurance claim over aircraft stuck in Russia | BusinessinsiderWorld's largest aircraft leasing company files $3.5bn insurance claim over aircraft stuck in Russia
Source: BISouthAfrica - 🏆 34. / 51 Read more »