Company stops buying feedstock of Russian origin and halts sales to customers in Russia and Belarus
THE current situation in Ukraine and its tragic consequences throughout the region have prompted bitumen suppliers Nynas to reconsider their feedstock supplies from Russia and also sales to the country.
Last week sales to customers in Russia and Belarus were stopped until further notice and today the company announced that it has decided to halt the purchase of feedstock of Russian origin. Nynas have previously, to various degrees, purchased feedstock of Russian origin from western non-Russian suppliers.
Nynas president and chief executive officer Bo Askvik said: ‘We in Nynas, like everyone else, are hoping for an urgent end to the Russian invasion of Ukraine to stop the ongoing humanitarian catastrophe. The decision, as communicated, is taken even though the export of crude oil and gas from Russia are not today subject to sanctions.’
Nynas say they have alternatives to Russian feedstocks and will be increasing that part of their raw material supply, whilst continuing to evaluate new suppliers.