KIEV: Ukraine largest steel pipe makers will not supply any products to Russia in 2015 due to a slump in the Russian rouble and prohibitive import duties.
A pro Russian separatist uprising in east Ukraine has soured relations between Moscow and Kiev and Russian steelmakers have aggressively lobbied for measures to defend domestic producers from Ukrainian imports.
Mr Denis Morozov Finance Director of Interpipe said that “We don’t have any supplies to Russia in our business plan for 2015. Rouble devaluation and anti dumping duties have made supplies to this market unprofitable.”
Western sanctions over Russia’s action in Ukraine and a sliding oil price pushed the Russian rouble down 40% in 2014, making foreign made products less competitive on the Russian market.
Mr Morozov said that the latest available data shows that Russia in 2013 accounted for 10 percent of sales for Interpipe, a top 10 global producer of seamless pipe.
