ArcelorMittal Temirtau refused to cooperate with Gazpromneft due to sanctions
The Kazakhstan branch of the world's largest metallurgical company ArcelorMittal, ArcelorMittal Temirtau, terminated the contract with the local distributor Gazpromneft - Lubricants due to the sanctions of Ukraine and the EU. This was reported by Kommersant with reference to an official letter from the metallurgical company to Gazpromneft.
"The decision was made due to the sanctions of Ukraine and the EU against the company " Gazprom Neft ", so as not to expose the general director of " AMT Temirtau "and AMT to reputational risk," the letter to ArcelorMittal Temirtau, which was sent official distributor "Gazpromneft - lubricants" LLP "Nik-Oil" July 12.
Gazprom Neft has been under US and EU sectoral sanctions since September 2014, as well as financial sanctions that prohibit the attraction of long-term financing. Nick-Oil has been supplying lubricants and coolants to AMT and its subsidiaries for eight years, the volume of supplies is about one thousand tons per year.
Joint Stock Company "ArcelorMittal Temirtau" is the largest enterprise in the mining and metallurgical sector of the Republic of Kazakhstan and is an integrated mining and metallurgical complex with its own coal, iron ore and energy base.