Mordashov sold his stake in Rossiya Bank
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The main owner of Severstal, Alexei Mordashov, ceased to own a stake in Rossiya Bank, his representative told Vedomosti.
“Currently, Alexei Mordashov does not own a stake in Rossiya Bank,” he said, without specifying when, to whom and for what amount the stake was sold or transferred.
Earlier, the Canadian newspaper The Globe and Mail wrote about this in the context of calls from local parliamentarians to impose sanctions on Mordashov and the gold miner Nordgold, which is owned by his family.
Nordgold, through its Canadian subsidiary Northquest, owns a license to develop the Pistol Bay gold mine in northern Canada’s Nunavut province. The project is at the exploration stage.
The EU imposed sanctions on Mordashov on February 28, 2022, later the businessman was included in the sanctions lists of Australia and the United States. In explaining the sanctions, the EU argued that the businessman “benefits from his connections with decision makers in Russia.” As an example, it was cited that his Severgroup holding, as of 2017, owned 5.4% of Rossiya Bank, which is considered “the personal bank of the state leadership of Russia” and has additional offices in Crimea.
Rossiya Bank fell under US sanctions back in March 2014 – at the same time, the largest co-owner and chairman of the board of directors, Yuri Kovalchuk, fell under restrictions – at that time the businessman owned 40.33% of the voting shares of Rossiya. Severgroup owned 5.5% of the bank’s shares as of 2014 (5.9% of voters). Also among the other shareholders of the bank were Nikolai Shamalov, Transoil CIS (7.49%),Surgutneftegaz(5.55%). Now the bank does not disclose shareholders.
According to Interfax CEA, Rossiya ranked 12th among Russian banks in terms of assets in 2021 (1.3 trillion rubles). The bank’s equity capital was 114 billion rubles.
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