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Severstal plans to redirect exports to Asia and South Africa by July

In particular, the list could include Iraq, Jordan, Vietnam, China, and India

MOSCOW, April 13. /TASS/. Severstal plans to fully restore sales of products abroad by July, reorienting them to Asian, South African, and South American countries, the Governor of Russia’s Vologda region Oleg Kuvshinnikov said on Wednesday.

"I think we will completely restore the supply chains by July, reoriented to South African, South American, and Asian markets,"Kuvshinnikov said, commenting on the situation with the closure of some of Severstal's export markets.

In particular, the list could include Iraq, Jordan, Vietnam, China, and India. In addition, the governor specified that the company had decided to occupy a niche in the domestic market.

Severstal, the largest supplier of Russian flat products to Europe, announced on March 2 that it had stopped deliveries of steel products to EU countries after the EU imposed sanctions on the company's main shareholder and chairman of its Board of Directors, Alexey Mordashov, in connection with Russia's military operation in Ukraine. Mordashov later said that the closure of some export markets should not become a global problem for Severstal, the company redirects commodity flows to other global directions.

Severstal is a vertically integrated mining and steel company and one of the largest steel producers in Russia. The key asset of the company is the Cherepovets Metallurgical Combine, with a production capacity of around 12 mln tonnes of steel per year.

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