UPDATE: Severstal suspends sales of steel to Europe on sanctions

(Rewrites story)

MOSCOW, Mar 2 (PRIME) -- Russian steel producer Severstal has suspended sales or metal products to Europe after its core shareholder Alexei Mordashov was included into the list of sanctions, the company’s representative told reporters on Wednesday.

“We can confirm officially that we have suspended supplies to the E.U. due to the sanctions, slapped on our shareholder, and will redirect our product flows to alternative global markets,” the person said.

Kommersant business daily reported about the decision earlier in the day.

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