Marat Samarsky | comments for the Vedomosti: Severstal has confirmed discontinuation of supplies to the EU

Inclusion in the EU sanction list means blocking of funds and freezing of assets of the person included in the list, says Attorney of International Economic Compliance of ART DE LEX Marat Samarsky. “Counterparties of companies controlled by Mordashov may for refuse to work with them for some time, until they weigh up all risks and make strategic decisions”, believes the lawyer. The way out, according to him, could be reduction of the share in such companies below the controlling interest and also withdrawal from the governance bodies. We’d like to remind that this scheme has already been used by Alfa Bank shareholders Mikhail Fridman and Petr Aven, who were included in EU sanction lists.

The whole article is available here: https://www.vedomosti.ru/business/articles/2022/03/02/911630-v-sverestali-podtverdili-ostanovku-postavok