Trading in Evraz Steel halted in U.K. after Britain imposes sanctions on Russian oligarch
CBC
A billionaire with close ties to the Kremlin has been sanctioned by the British government, resulting in trading in Evraz being suspended on the London Stock Exchange.
On Thursday, the United Kingdom placed billionaire Roman Abramovich on a sanctions list, due to his links with Russian President Vladimir Putin.
The sanctions mean that Abramovich's assets in the U.K. are frozen, and he cannot enter or stay in Britain.
Among other holdings, Abramovich owns 28.6 per cent of shares in Evraz, a massive steel company with Canadian plants located in Regina, Calgary, Camrose, Alta. and Red Deer, Alta.
Soon after the sanctions were announced, Britain's financial watchdog suspended trading on Evraz. Before trading was suspended, shares in the company dropped 16 per cent after the sanctions were announced.
According to Britain's official sanctions list, the government was concerned about Evraz's potential role in Russia's invasion of Ukraine.
"Evraz PLC is or has been involved in providing financial services, or making available funds, economic resources, goods or technology that could contribute to destabilising Ukraine or undermining or threatening the territorial integrity, sovereignty or independence of Ukraine – which includes potentially supplying steel to the Russian military which may have been used in the production of tanks," read the list.
On Monday, Canada added another ten Russians to its sanctions list. However, Abramovich has not been added to that list so far.
Last week, Deputy Prime Minister Chrystia Freeland told reporters that Canadian companies could be collateral damage as Canada considers sanctioning Russian oligarchs with ties to Putin.
Abramovich also owns famed west London football club FC Chelsea. The sanctions mean he cannot sell the football team and Chelsea cannot sell new tickets to matches.
Abramovich's spokeswoman declined immediate comment to Reuters.
Canada is preparing for U.S. President Donald Trump to hit the country with potentially devastating tariffs on Tuesday, but the federal government and the premiers say they are in the dark about what will actually materialize and how high those promised levies will be.
Former P.E.I. Premier Dennis King has been appointed as Canada's new ambassador to Ireland, Prime Minister Justin Trudeau announced Monday in a news release.
Oxford and Elgin counties have the highest number of measles cases in the country, the province's public health agency says, as local medical officials warn of more possible exposures to the deadly virus.
Ontario Premier Doug Ford will take questions from media Monday for the first time since his Progressive Conservatives won their third-straight majority in a snap election last week.
Newfoundland and Labrador is staring down federal, provincial, and municipal elections in the next eight months, but for one new Canadian the opportunity to vote is something she's not taking for granted.
Even with a dirt trench running down the hallway, and exposed wires and pipes hanging from the ceiling, it still kind of looks like an elementary school.
Some of the most affordable rental housing in Nova Scotia is rapidly becoming less so, according to Canada Mortgage and Housing Corporation data analyzed by CBC News.
A two-time federal Conservative candidate in Miramichi says he doesn't think current party MP Jake Stewart can win again in a federal election that is expected to start within weeks.
Quebec municipalities and human rights groups are voicing concerns about proposed legislation that would require newcomers to abide by a set of common values.
Amazon and Walmart Canada have so far ignored the NDP government's requests to restrict the online sale of machetes to Manitobans, the province says.
Saskatoon city council is seeking money to crack down on unlicensed short-term rentals in the city, like those on AirBnB and VRBO, amid an active moratorium on licensing certain new short-term rentals.
When Kwaku Ayisi lost a friend who hadn't even reached 40 to breast cancer, it inspired him to look at the barriers Black women face in Saskatchewan's breast-health system.
A northern Alberta town is losing its only family doctor clinic and officials are trying to find solutions before the doors close for good at the end of May.