EU sanctions billionaire shareholders of Russian steelmakers Metalloinvest and Severstal

Russian iron ore miner and steelmaker Metalloinvest – which is also the world’s largest producer of hot-briquetted iron (HBI) – said March 1 that sanctions against one of its shareholders will not affect the company’s business. Fellow Russian steelmaker and miner Severstal said it is assessing potential effects from sanctions on its majority shareholder. On Feb. 28, the EU imposed…