The sanctions imposed by Russia on the delivery of pipes from Ukraine didn’t have an impact on Interpipe.
“Losses from sanctions are not considerable. The products yielding the biggest income in Russia have long been prohibited”, Interpipe CFO Denis Morozov said, adding that there was a duty of 27% on Interpipe pipes on the Russian market.
At the same time the ban to supply enameled tableware had a much stronger effect. Russia accounted for at least a quarter of the enameled tableware purchases produced at the Novomoskovsk Pipe Works.
Morozov also said the situation on the Russian wheel market was catastrophic.
“The price of wheels there in 2 years has grown from 19 thousand rubles to 100 thousand rubles. We could cover the shortage, but we were removed from the Russian market”, he added. (Ukrainian metal)