OSWIECIM, Poland—Synthetic rubber producer Synthos S.A. said it was deeply disappointed with the package of sanctions the European Union imposed on SR imports from Russia, calling the measures "meaningless."
The Oswiecim-based firm has publicly supported Ukraine since the start of the Russian invasion in February 2022, and had advocated for strict EU sanctions to stop the flow of money to Russia, Synthos said in a March 10 statement.
But after opposition surfaced to the proposed ban on synthetic rubber and carbon black, the Feb. 25 package of sanctions—which coincided with the first anniversary of the unprovoked invasion—the EU imposed a ban, but one that won't take effect until July 1, 2024.
Until that time, the EU will allow a quota of 562,973 metric tons of synthetic rubber to be imported from Russia, along with 752,475 tons of carbon black. The totals are based on historical import data, a spokeswoman for the European Commission told Rubber News.