EU and Russia sign agreement on quota regarding steel exports

EU and Russia sign agreement on quota regarding steel exports

As previously reported by SteelOrbis, EU and Russia compromised on the issue back in April. However the negotiations have continued since then and ended up with a deal. According to the deal, Russia is allowed to export an additional 438'216 tons of flat and long steel products to EU in 2004 apart from the allowed 1.38 million tons of steel products under the scope of the agreement signed in July 2002. The quota distribution is as follows: 76'201 tons of coils, 80'614 tons of heavy plates, 163'996 tons of other flat products, 596 tons of alloyed products, 14'603 tons of beams, 54'438 tons of wire rods and 47'768 tons of other long products. Moreover the two agreed to informally negotiate quota levels for 2005.