Ukraine is ready to replace the Russian Federation in the markets of iron ore and other products

All Russian steel products should be under sanctions, and Ukrainian steelmakers should be given access to the American market. This was emphasized by the First Deputy Prime Minister – Ukrainian Minister of Economy Yuliya Svyridenko during a meeting with the US Minister of Commerce Gina Raimondo, reports the press service of the ministry.

Yulia Svyridenko emphasized that the stabilization of the Ukrainian economy is based on stable exports, and this especially applies to steelmakers.

“Steel is an area where we are particularly interested in expanding sanctions against the Russian Federation and access to the American market. All Russian steel products should be subject to US sanctions. To this end, we call for the inclusion of Ukrainian ore and other products in the Western supply chain and to replace Russia in these markets. It is also important to equate Ukrainian iron ore and pig iron to products from the EU and to extend the exemption from tax tariffs (at least until the end of 2024) of Ukrainian export products,” the First Vice Prime Minister noted.

The First Deputy Prime Minister also briefed the American officials on the situation in the Ukrainian energy industry, which developed after the Russian strikes on the critical infrastructure of Ukraine and the measures taken to overcome the consequences of the shelling. It was also about specific assistance that the USA already provides and may provide in the near future to our country to stabilize the energy situation.

In addition, promising areas of cooperation in the context of the Ukrainian Recovery Plan’s implementation, in particular, its energy component, were discussed. The document envisages the development of a green economy – the energy system will rely on the latest technologies and carbon-neutral energy resources.

As GMK Center reported earlier, Ministry of Economy plans to contribute increasing the processing of steel raw materials. Due to limited logistics capabilities, steelmakers need to increase exports of value-added products