MOSCOW—Russia's leading synthetic rubber producer has kept silent about the status of its SR business since Russia invaded Ukraine—until now.
It's been nearly six months since the invasion, and Moscow-based Sibur Holdings, a top five global supplier of synthetic rubber, said the war hasn't had a major impact on its elastomers operations to this point.
Sibur Holdings gave the update on its polymer businesses in a July 26 call with media—its first public statements since the war began. And officials said while the decision by most of the foreign-owned tire companies to suspend operations or end production at the facilities in Russia has impacted the firm, the elastomers business overall has been able to operate at a high level.
Company officials also said during the call that the plastics part of the group has had to find new markets to sell its polypropylene because that material has been subject to economic sanctions from the European Union.
However, they added that Sibur's synthetic rubber and polyethylene lines aren't included in the sanctions that have been levied against Russia after the nation's unprovoked attack beginning Feb. 24 on neighboring Ukraine. That has left those businesses with more freedom to continue operating as they have traditionally.