Avtandil Mammadov: PJSC SEVERSTAL and PJSC TMK will have to deal with the markets of the CIS and Asia Minor

10.03.2022       

Prominent analyst of industrial markets Avtandil Mammadov commented on "TEK-ALL" changes in Russian metallurgists. He, in particular, noted: "The introduction of shareholders, and practically the owners of PJSC" Severstal " and PJSC "TMK" to the sanctions list will inevitably create problems.
It is not clear what will happen with the certification of products and production. According to Directive No. 2014/145/CFSP defining the framework and procedures for sanctions, no person - a resident of the EU, has the right to establish any economic relations with Alexei Mordashov, Dmitry Pumpyansky and legal entities affiliated with them by 50% or more controlled by them. This also applies to the certification communities of DNV, RINA, Lloyd, TUV and others. So far, the American Petroleum Institute (API) has not yet been included in the US sanctions list. But the situation is very difficult.
I think that PJSC "SEVERSTAL" and PJSC "TMK" in the new conditions, it will be necessary to move away from a certain arrogance in relation to the markets of the CIS and Asia Minor. Companies will have to rely on specialists and structures in these countries that can approve Russian standards for project work. PJSC "SEVERSTAL" and PJSC "TMK" it is necessary to build relationships with financial institutions in the countries of new markets to financially support their participation in large projects.