Tenaris stopped all sales, and purchases in Russia

The steel pipe producer decided to write off investments with the Russian Severstal0

A major Italian manufacturer of seamless, and welded pipes – Tenaris – stopped all sales, and purchases in Russia. It is stated in a press release from the company.

“On February 24, 2022, Russia invaded the territory of Ukraine. Tenaris suspends all sales, and purchases with the aggressor country.”

In addition, the statement says that the company has decided to write off its investments in a joint project with the Russian company Severstal.

It is also reported that Tenaris supplied medicines to Ukrainian children hospitals in partnership with Francesca Rava Foundation.

As GMK Center reported, on April 8, the European Union approved the fifth package of anti-Russian sanctions. The new restrictions include a ban on coal import from August, access restrictions to EU seaports, and restrictions on good transportation by roads.