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Severstal

April 15, 2002

A.Kruchinin, Executive Director of Severstal, comments on the US Decision of April 10

Anatoloy Kruchinin, Executive director of Severstal, calls the US Department's of Trade decision of April 10 "another 'gift' of American free trade."
   On April 10, the US Department of Trade made a preliminary decision about presence of critical conditions caused by imports from Russia, China, Australia, India, Netherlands and Korea in the antidumping investigation against imports of cold rolled steel from 20 countries. Anatoli Kruchinin feels that "this decision, like Bush's Administration's decision of March 6, is discriminatory towards Russia.The American party again puts aside the Comprehensive agreement on steel trade signed by Russia and the US. This document's preamble states that if Russia meets the Comprehensive agreement's terms, then it does not cause any harm to the American economy. Russian party adhered to the qoutas set by the agreement."
   Now cold rolled steel, which we have sold since January 26, 2002, will be subject to retroactive duty, which by our estimates will exceed 100%. "Direct losses of Severstal will total US $ 12.5 million," said Anatoli Kruchinin.
   "We've asked German Gref prior to his visit to the US to do everything to get Russia off the list of countries, which were considered as causing critical conditions. If Russia is not taken off that list like in the case of the article 201 of the American Trade Law we'll have every right to break the agreement, which American party breaks continuously," said Kruchinin.

 

 

 

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