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Sibanthracite Group to focus on Russian market after sanctions

The US Department of the Treasury introduced sanctions against five companies in the Sibanthracite Group

NOVOSIBIRSK, May 2. /TASS/. Sanctions introduced by the US against Sibanthracite Group companies will not significantly affect its operations, the Russian coal miner’s press service said.

"Restrictions introduced by the US Department of the Treasury in respect of our group of companies will not have a material effect on operations of the Sibanthracite Group. We were ready to such course of developments and clearly know how we should act. We continue operations subject to new realities. In particular, the Russian market become the priority in the trade policy of the Sibanthracite Group. The company will continue increasing supplies to domestic producers," the company informed.

The US Department of the Treasury introduced sanctions against five companies in the Sibanthracite Group. In total, 29 individuals and more than 250 legal entities from different countries were hit by sanctions.

The Sibanthracite Group is dealing with production and exports Ultra High Grade anthracite and other metallurgic coal grades.