Russia’s concern declined following the agreement signed with EU
As previously reported by SteelOrbis, the agreement signed on April 27, 2004 allows
Russia to export an additional 438'000 tons to EU to be effective as of May 1, 2004, apart from 1.38 million tons allocated to
Russia by EU. Moreover EU, stating that the quota allocated for Russian exports may be increased in 2005, agreed to reduce tariffs on Russian goods to 4% from its current level of 9%.
Under the scope of the agreement, the protectionism measures that were applied by the new members of EU on imports from third countries, including
Russia are also invalid as of May 1, 2004.
With the expansion that took place on May 1, 2004, ten new members will be included to EU-
Russia agreement.
It is stated that, the new agreement will improve
Russia-EU relations.