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Severstal has rebuilt main supply chains

"You know our financial results as we have returned to full-fledged disclosure of financials," CEO Alexander Shevelev said

MOSCOW, June 4. /TASS/. Severstal has managed to rebuild its main supply chains, enter other markets and create new sales channels, feeling fine amid sanctions, Chief Executive Officer Alexander Shevelev told TASS before the St. Petersburg International Economic Forum.

"We have managed to rebuild the main supply chains, enter other markets, create new sales channels where it was necessary. We feel fine indeed. You know our financial results as we have returned to full-fledged disclosure of financials," he said when asked whether it is safe to say that the company feels fine amid sanctions now.

On March 2, 2022, Severstal announced the cessation of supplies of steel products to the European Union after the EU imposed sanctions against the main shareholder and chairman of the company's board of directors Alexey Mordashov in connection with Russia's special military operation in Ukraine. In June 2022, the US Treasury imposed sanctions against the company and its main shareholder. In 2023, Severstal was also blacklisted by the UK.

The St. Petersburg International Economic Forum will be held on June 5-8. The main theme of this year’s Forum is ‘The Formation of New Areas of Growth as the Cornerstone of a Multipolar World’. The Roscongress Foundation acts as an organizer. TASS is the information partner of the event.

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