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Yota co-owner steps down from Elsi coal project

"The transfer of ownership rights is expected as soon as possible," the company informed

MOSCOW, January 27. /TASS/. Yota co-owner Sergey Adonyev has decided to withdraw from the Elsi coal project, the company’s press service told TASS.

"Sergey Adonyev made the decision to exit from the Elsi coal project. The transfer of ownership rights is expected as soon as possible," the company informed.

Details of the transaction will be disclosed after completion of the Adonyev’s stake sale, Elsi said.

On January 26, US authorities introduced restrictions against Adonyev.

Elsi is the managing company of a package of assets ranked among the top three Russian coal miners in terms of coal production and transportation.