“Exemptions to imports of Russian steel semis are a historic mistake”, says EUROFER

Following the publication of the 12th package of EU sanctions against Russia, which also include further exemptions regarding the import of Russian steel semi-finished products, EUROFER Director General Axel Eggert has released a statement:

“EU Member States have made a historic mistake by granting further exemptions to imports of highly carbon-intensive Russian semi-finished steel products. This decision fuels a perverse system that not only weakens EU sanctions against Russia but also runs counter EU climate targets. The opportunistic interests of a handful of steel processing enterprises, taken up by a few Member States with a veto right, are undermining the objectives of the sanctions, where steel plays a strategic role not only in the overall Russian economy but also directly in the Russian military machine engaged in the war of aggression against Ukraine.”  

“Currently, Russian slabs are 26% cheaper than slabs from other third countries. It is clear why certain steel processing companies are determined to maintain the current bonanza they unfairly take advantage of,” he added, concluding: "If Ukrainian re-rollers operating in the EU can diversify their sources of imports of semis away from Russia, why not the few other importers?".

Photo by EUROFER