Russian steelmaker Severstal stops steel shipments to EU on sanctions against shareholder

Russian mining and steel company Severstal said March 2 it has ceased shipments to the European Union due to the sanctions the bloc imposed on its majority shareholder as a consequence of Russia’s actions in Ukraine. The company is redirecting commodity flows to alternative markets “due to problems in interaction with European customers,” it said in a statement. Severstal’s redirection…