Cordiant has been sanctioned

The US Department of Finance has included the Cordiant holding in a new sanctions list, stating that the company "produces rubber products and supplies products to the Russian military-industrial complex".

In the tire manufacturer, it was noted that "the inclusion of Cordiant JSC in the US Department of Finance's sanctions list will not affect the holding's activities".

Not so long ago, Cordiant passed into the ownership of Severgroup, which manages investments on behalf of Alexei Mordashov. The holding combines five tire plants, as well as production of spark plugs, boilers and power tools. In Russia, Cordiant is one of the largest tire manufacturers.