EU may expand Russian steel quota

It has been reported that the European Union (EU) may increase its quota on Russian steel imports by 15 percent for 2007 due to the accession of Bulgaria and Romania to the EU on January 1, 2007. According to the report, officials of the Russian Federation's Ministry of Economic Development and Trade (MEDT) have stated that the draft agreement has been prepared and is currently awaiting approval from various EU institutions. Russia's current 2007 steel quota is equal to its 2006 steel quota, i.e. 2.27 million metric tons.