Video: International Politics May Affect Steel Mill Sell in Lowndes County
COLUMBUS, Miss. (WCBI) -U. S. foreign policy may be standing in the way of Severstal Steel’s sale to Indiana-based Steel Dynamics.
County Attorney Tim Hudson told supervisors today the sale is being delayed while under review by the U.S. Department of Justice and State Department.
The federal agencies are trying to decide whether Severstal and its Russian owner can do business in the United States under sanctions imposed by the United States against Russia for its actions in the Ukraine.
Without clearance from the sanctions, Severstal can’t complete the sale, which was announced last month.