Evraz shares suspended after Abramovich sanctions

10th Mar 2022 11:45

(Sharecast News) - Shares of Russian steelmaker Evraz have been temporarily suspended from trading after Russian oligarch and Chelsea Football Club owner Roman Abramovich - who also has a majority stake in the company - was hit by UK sanctions.

The London Stock Exchange said in a notice that the Financial Conduct Authority had suspended the shares as of 1100 GMT "in order to protect investors pending clarification of the impact of the UK sanctions".

The shares had fallen sharply following news of the sanctions on Abramovich, and were down 11% at 81.68p before the suspension.