UMMC CEO left post after EU sanctions

The co-owner and CEO of the Ural Mining and Metallurgical Company (UMMC), Andrey Kozitsyn, who was included in the new package of EU sanctions the day before, left the post of CEO of UMMC. The justification for the sanctions states that Kozitsyn, as one of the leading Russian businessmen, "is involved in an industry that provides a significant cash flow to the Russian government."

“The decision was made in connection with the possible imposition of personal sanctions by foreign states in the future and is aimed at eliminating the possible indirect application of sanctions against the companies of the UMMC group,” the company said.

• 48 individuals were included in the lists of personal sanctions of the new EU package . Among them are First Deputy Prime Minister Andrei Belousov, Moscow Mayor Sergei Sobyanin, actors Vladimir Mashkov and Sergei Bezrukov, member of the Security Council and former Prosecutor General Yuri Chaika, as well as many regional officials.
• Among the companies, the main person involved is Sberbank.
• The ban on entry into European ports for ships flying the Russian flag has been extended to locks.
• The ban on deposits of Russian companies has been extended to deposits from legal entities with controlling stakes in Russians established in third countries.
• The control of exports of dual-use products to Russia has been strengthened.
• Russia is allowed to provide technical assistance on aviation products and technologies to the extent necessary to maintain ICAO technical and industrial standards.
• The document separately emphasizes that the sanctions "in no way concern" Russia's trade in agricultural products with third countries. Sanctioned banks will also be able to serve the export of agricultural products and fertilizers.

from the sanctions lists at the last moment was excluded As the WSJ learned, the Russian titanium producer VSMPO Avisma for fear of a retaliatory embargo on titanium for the European aviation industry. “This shows how difficult it is for the EU to build up pressure on Russia without harming its own economic interests,” the newspaper writes. “The united front of financial, regulatory and individual sanctions in the first weeks of the war has been replaced by disagreements over energy sanctions and discussions about whether the new restrictions hurt Europe more than Russia.”