The National Agency for Fiscal Administration (ANAF) in Romania has lifted the restrictions previously imposed on pipe maker TMK Artrom as its main shareholder, the Russian billionaire Dmitry Pumpiansky, would be subject to international restrictions, Ziarul Financiar reported.

In the meantime, however, the company reported that Pumpiansky is no longer a shareholder.

TMK Artrom has two plants in Slatina and Resita and employs approximately 2,400.

The restrictions were enforced in March as a result of European sanctions on Russian oligarchs close to Vladimir Putin.

TMK Artrom is part of the PAK TMO industrial pipe manufacturer group. The group was previously owned and led by Russian billionaire Dmitry Pumpiansky, a close associate of Russian President Vladimir Putin.

Subsequently, Pumpianski's actions were transferred to other people, who are not covered by Western sanctions. It is unclear, however, to what extent Pumpianski still controls the TMK group or whether it has ties to the new shareholders.

(Photo: TMK Artrom Facebook Page)

andrei@romania-insider.com