Europe

Treasury freezes Vítkovice Steel’s assets

The Treasury Department’s Financial Analysis Department has frozen support for Ostrava-based company Vítkovice Steel, an export-centric steel maker owned by a superstate investment fund in the countries of the former Soviet Union. The asset freeze is related to sanctions on Russia in response to Ukraine’s invasion of Ukraine, Czech Television reported, citing a spokesman for the Treasury Department Mikaela Lagronova.

In March, news site Info.cz reported that shareholder management of Vítkovice Steel can be traced back to the Russian development bank VEB. However, this was denied by a company spokesperson. He said the owner of the Vítkovice Steel is a businessman from the former Soviet Union, not Russia.

https://english.radio.cz/finance-ministry-freezes-vitkovice-steel-assets-8749400 Treasury freezes Vítkovice Steel’s assets

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