Ukrainian steel pipe and railway wheel producer Interpipe has announced that it will not supply any products to Russia in 2015 due to the fall in the value of the Russian ruble and prohibitive import duties.
“We do not have any supplies to Russia in our business plan for 2015. The loss of value of the ruble and antidumping duties have made supplies to this market unprofitable,” stated Interpipe’s finance director Denis Morozov.
The company plans to focus on Europe, America, the Middle East and Africa, expecting the combined share of these markets to exceed 60 percent of its business by the end of the year, according to Mr. Morozov.