EUROFER: Weakening EU sanctions on Russia risks being historic mistake

Friday, 01 December 2023 14:56:32 (GMT+3)   |   Istanbul
       

The European Council has received exemption requests from a few member states for the ban on imports of Russian semi-finished products. The European Steel Association (EUROFER) has stated that delays in implementing EU sanctions against Russian semi-finished steel products would have a perverse effect and has called on the council to reject the requests.

The EU ban on imports of Russian slab and billet will be effective as of October 2024 and April 2024, respectively, as SteelOrbis previously reported.

EUROFER stated that the trade dynamic that takes advantage of cheap steel imported from Russia while aiding supply to its military and related downstream sectors must come to an end. Additionally, the non-enforcement of steel sanctions against Russian semis fuels unfair competition and an uneven playing field within the EU internal steel market, EUROFER noted.

“Weakening the current EU sanctions against Russia risks to be self-defeating and a historic mistake,” Axel Eggert, director general of EUROFER, said.


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