The Russian invasion of Ukraine and its tragic consequences throughout the region have prompted chemical firm Nynas to reconsider its supplies from Russia and also sales to the country. Sales to customers in Russia and Belarus were stopped last week until further notice. Nynas adds that it has previously to a various degree 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 adds that it has alternatives to Russian feedstocks, and that it “will increase that part of the raw material supply. At the same time, we also evaluate new suppliers on a continuous basis,” it concluded.
With around 1,000 employees, production facilities in Europe and offices in over 30 countries, Nynas supplies specialty naphthenic oils and bitumen for a growing international market.