Head of USC says sanctions against Corporation slightly disturb operation of its asset in Finland

Sanctions imposed by the European Union on the United Shipbuilding Corporation have slightly complicated money transfer to Archtech Helsinki Shipyard, joint venture of USC and STX, Aleksei Rakhmanov, USC head told IAA PortNews journalist at the press conference.

“All consequences related to the joint venture with STX have emerged by today, - Aleksei Rakhmanov said. – One of Finnish banks has announced the intent to close our accounts”. 

He also explained that USD payments are impossible for the company which complicates the situation being a feasible problem though. USC has already opened accounts in other banks.

“As for the currency, we leave the contracts denominated in dollars, pay them in euro or other alternative currency acceptable for the customer,” Mr. Rakhmanov said. He also added that there were no other problems related to fulfillment of the orders.

In the context of the second wave of sanctions associated with the deepwater drilling and the Arctic zone development USC head said there are no any withdrawals or signs of possible nonfulfillment. 

“So far, we see no problems to hinder their implementation,” Aleksei Rakhmanov said.

However he noted that “in theory, some suppliers with American shareholders can potentially reject supplying certain equipment”. 

In such cases, the makers lists should be additionally approved by the customers and “we hope to be able to find an alternative as there are enough customers eager to develop cooperation with USC despite the sanctions”, the head of USC said.

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