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Reuters

Russian sanctions-linked firms run into hurdles with debt payments

Russian steel producer Severstal, whose main shareholder, Alexey Mordashov, was sanctioned by the European Union on Feb. 28, was having trouble paying the holders of its debt, a source close to the company said. Evraz, the Russian steelmaker whose biggest shareholder is sanctioned Russian Roman Abramovich, said on Tuesday the coupon payment due March 21 was settled with the paying agent after it was temporarily blocked by a Western correspondent bank.

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