EVRAZ plc (LSE:EVR) said on August 10, 2022, it was launching a process to solicit proposals for the acquisition of its North American subsidiaries. The sale will help unlock the value of its North America business, the company said without disclosing details on the sale process. Britain sanctioned Evraz in May in response to Russia's decision to send thousands of its troops to Ukraine, but provided a licence allowing business with Evraz's North American subsidiaries.

"Recent geopolitical tensions have given rise to significant corporate governance and operating challenges for Evraz," Chief Executive Officer Aleksey Ivanov said earlier in the month of August 2022.