On June 22, 2007 the Russian Federation's Ministry of Economic Development and Trade (MEDT) and Ukraine's Ministry of Economy concluded an agreement which limits Ukrainian supplies of cold rolled steel to Russia.
According to the agreement, Russia's quota for Ukrainian cold rolled steel has been set at a level of 200,000 metric tons for the year from July 1, 2007 to June 30, 2008, and will be increased by 5,000 metric tons per year after this period.
The agreement will enter into force on July 1, 2007 and will be effective for the period from July 1, 2007 through June 30, 2010.
Due to the conclusion of the agreement, MEDT is to terminate its antidumping investigation into exports of Ukrainian cold rolled steel, which was initiated in July 2006 upon the request of Russian flats producers Severstal, NLMK and MMK.