Evraz begins exit from US assets

Evraz began the process of selling the assets of the North American division (Evraz North America, ENA), the company announced on August 10. The company explains that it has started the process of collecting applications in accordance with the general license issued by the UK Financial Sanctions Enforcement Authority (OFSI). “A potential transaction would require regulatory and corporate approvals, compliance with applicable sanctions laws, and approval from sanctions authorities, including OFSI,” the press release said.

Evraz notes that ENA can provide investors with “a stable income and cash flow.” In 2022, the company did not receive and does not plan to receive any funds from ENA assets. Evraz does not intend to provide additional information about the development of the sale process until its completion.