The British Foreign Office noted that Evraz produces most of the railway wheels for trains and almost all of the rails in Russia. The railway is important for Russia, as arms and equipment are delivered to Ukraine by rail.

Railway wheel manufacturer

It is reported by the railway magazine Railway Supply with reference to the British Foreign Office.

“The metallurgical and mining company operates in sectors of strategic importance for the Russian government,” the department explained. They added that Evraz produces 28% of all railway wheels in Russia and 97% of rails. “This is vital as Russia uses the railroad to transport military supplies and troops to the front lines in Ukraine,” the release said.

The largest shareholder of the company is Roman Abramovich, who owns 28.64%. Also significant shares in Evraz belong to Alexander Abramov (19.32%), Alexander Frolov (9.65%), Gennady Kozovoy (5.74%) and Maxim Vorobyov (3.01%).

On March 10, Abramovich fell under British sanctions, which include freezing assets and a ban on entry into the country. At the same time, the UK Financial Conduct Authority announced that it had temporarily suspended Evraz’s listing on the London Stock Exchange.

Railway wheel manufacturer

After that, all non-executive directors, including Frolov and Abramov, left the company’s board of directors.


Against this backdrop, Evraz announced that it was suspending the spin-off of “Raspadskaya” (Russia’s largest coal producer where Evraz holds 93.24% of voting shares) into a separate company.

In early April, it became known that the company had completely abandoned this project. Evraz then explained that in the context of sanctions against Russia and Russian retaliatory measures, the transaction on Raspadskaya “has become technically impossible.”

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