NLMK said unaffected by Western sanctions

Aug 07, 2014 | 05:38 PM | Michael Cowden

Tags  Novolipetsk Steel, NLMK, Oleg Bagrin, NLMK USA, NLMK Europe, sanctions, Ukraine, Severstal Black Sea

CHICAGO — Russian steelmaker Novolipetsk Steel (NLMK) has seen no direct impact to date from sanctions imposed by the United States and Europe in response to political tensions over the Ukraine and does not intend to divest its international assets, a company executive said.

"Basically, no direct impact so far, and no M&A on the horizon," NLMK chief executive officer Oleg Bagrin said during an earnings conference call Aug. 7.

Bagrin’s remarks came after an AMM reporter asked whether the Lipetsk, Russia-based steelmaker had seen any operational impact from U.S. or European Union sanctions or whether it might be considering a sale of its assets outside of Russia following OAO Severstal’s $2.33-billion sale of its North American division (, July 21).....

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