Ukraine crisis: Nynas halts trade with Russia

Stockholm – Nynas AB has halted purchase of feedstock of Russian origin, and sales to customers in Russia and Belarus, following Moscow's war on Ukraine.

“The Russian invasion of Ukraine and its tragic consequences throughout the region have prompted Nynas to reconsider its supplies from Russia and also sales to the country,” said Nynas 2 March.

According to the Swedish refiner, sales to customers in Russia and Belarus were stopped last week "until further notice," and procurement of Russian-origin feedstock was suspended 2 March.

Nynas said it had previously purchased feedstock with Russian origin from western non-Russian suppliers.

”We, in Nynas, like everyone else, are hoping for an urgent end to the Russian invasion of Ukraine to stop the ongoing humanitarian catastrophe.

“The decision as communicated is taken even though the export of crude oil and gas from Russia are not today subject to sanctions,” says Bo Askvik, Nynas president & CEO.

Nynas, Askvik added, has “alternatives to Russian feedstocks, and we will increase that part of the raw material supply.”