Steel News

U.S. Commerce Department Sets Preliminary Duties on Russian OCTG Imports

3/15/2022 - On Monday, the U.S. Department of Commerce issued a preliminary determination that affirms Russian exporters of oil country tubular goods (OCTG) received countervailable subsidies.

According to the official document, the Commerce Department determined that over the course of the investigation period (1 January 2020–31 December 2020), Russian OCTG producers and exporters benefitted from countervailable subsidies in rates ranging from 1.37% to 1.68%.

As a result of the preliminary ruling, the U.S. Customs and Border Protection agency will now collect a cash deposit equal to the estimated rates on incoming OCTG imports from Russian producers.

With the preliminary determination issued, the Department of Commerce will now move to verify the information and data submitted and issue a final decision on countervailing duties later this summer. The decision will coincide with the department’s final rulings on other antidumping cases related to OCTG imports from Russia, South Korea, Mexico and Argentina.