EU Bans Imports of Steel Products from Russia
Strategic Research Institute
Published on :
16 Mar, 2022, 5:11 am
The European Union Council has agreed on a fourth package of restrictive measures against Russia in response to the Russian invasion of Ukraine to ramp up economic pressure on the Kremlin and cripple its ability to finance its invasion of Ukraine. The measures, which have been coordinated with the EU's international partners, notably the United States, include first and foremost a total ban on any transactions with certain Russian state-owned enterprises in various sectors linked to the Kremlin's military-industrial complex. An import ban was introduced for steel products currently subject to EU safeguard measures. To compensate for the non-arrival of these steel products in the EU, import quotas allocated to other countries will be increased. It shall be prohibited to import, directly or indirectly, iron and steel products as listed below if they originate in Russia or have been exported from Russia as well as ban their transportation. It seems that semi-finished products such as billet and slab are not subject to the sanctions.
However, the prohibitionsshall not apply to the execution until 17 June 2022 of contracts concluded before 16 March 2022, or ancillary contracts necessary for the execution of such contracts
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Steel Items in Prohibited List
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Non Alloy and Other Alloy Hot Rolled Sheets and Strips
Non Alloy and Other Alloy Cold Rolled Sheets
Electrical Sheets (other than GOES)
Metallic Coated Sheets
Tin Mill products
Non Alloy and Other Alloy Quarto Plates
Stainless Hot Rolled Sheets and Strips
Stainless Cold Rolled Sheets and Strips
Stainless Hot Rolled Quarto Plates
Non Alloy and Other Alloy Merchant Bars and Light Sections
Rebars
Stainless Bars and Light Sections
Stainless Wire Rod
Non Alloy and Other Alloy Wire Rod
Angles, Shapes and Sections of Iron or Non Alloy Steel
Sheet Piling
Railway Material
Other tubes, pipes
Hollow sections
Seamless Stainless Tubes and Pipes
Other Seamless Tubes
Large welded tubes
Other Welded Pipes
Non-alloy and other alloy cold finished bars
Non Alloy Wire
Additionally, European Council considers that 15 individuals and 9 entities should be added to the list of persons, entities and bodies subject to restrictive measures
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Steel Oligarchs
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Roman ABRAMOVICH, EVRAZ
Viktor RASHNIKOV, MMK
Alexander SHOKHIN, Mechel