EU increases quota for steel imports from Russia

EU increases quota for steel imports from Russia.

European Union has prolonged for 2011 the agreement with Russia on trade of steel products, increasing the quota for Russian producers by 2.5% compared with 2010, sources at the Russian Ministry of Economic Development and Trade told Itar-Tass.
Russia's quota for 2010 was 3.185 million tons of steel.
The EU also agreed to carry over into 2010 the quotas that were not used up in 2009. EU started subjecting the imports of some types of Russian metal products to quotas as of the end of the 1990's. In 2007, the sides signed an agreement on trade of certain steel products that envisions automatic prolongations with an annual increase of the quota by 2.5%.