UK-based lubricant manufacturing company, Aztec Oils, has announced that their application for an investigation into the dumping of lubricants on the UK market has been accepted by the Trade Remedies Authority (TRA), a British government agency that exists to defend the UK against unfair international trade practices. Since the start of the Russian invasion of Ukraine in February 2022, Aztec Oils identified significant and increasing quantities of lubricants originating from the UAE and Lithuania sold at prices well below both manufacturing and import costs.
With the acceptance of Aztec Oils’ application, the TRA will now conduct a thorough investigation into this matter and has the power to recommend remedial measures to the UK Government to impose depending on their findings.
Managing Director of Aztec Oils, Mark Lord, commented: “We strongly believe that an equal and fair-trading environment is essential to maintaining jobs, talent, and prosperity in the UK. This principle is echoed by lubricant manufacturers, their suppliers and customers, and other stakeholders throughout the UK. “We believe the dumping of these products inflicts significant damage upon all UK lubricant manufacturers. The importing of products that are then sold significantly below both the cost of importation and the production cost of UK-manufactured lubricants has resulted in an estimated loss of revenue for UK lubricant manufacturers of up to £100 million in the last year. This unethical practice has led to severe repercussions within the UK lubricant industry, with numerous companies forced to undergo substantial operational and workforce streamlining”.
Aztec Oils is working to raise awareness of this issue and its serious impact on the UK lubricant industry. They are urging other manufacturers, distributors, and end users who have also been affected as a consequence of this situation to participate in the investigations conducted by the Trade Remedies Authority.
