Worldsteel suspended cooperation with Russian steelmakers

The international association of pig iron and steel producers Worldsteel has temporarily suspended cooperation with Russian steel companies, reads the appeal of the association, signed by the head of Worldsteel Sanjin Jindal and CEO Edwin Basson, according to Ukrmetalurgprom.

The reason for the suspension of cooperation was the changes in the legislation of the European Union, which do not allow continuing any cooperation with the Russia on the exchange of information and participation in joint events.

“Thus, starting from June 16 this year (the date of entry into force of sanctions – ed.), Russian steelmakers will be completely excluded from the activities of the World Association of Steelmakers Worldsteel,” sums up Ukrmetalurgprom.

Ukraine’s Ukrmetalurgprom association applied to Worldsteel to exclude all Russian mining and metals companies from its activities in the first half of March 2022.

The participants of Worldsteel were Evraz, Magnitogorsk Metallurgical Plant, Metalloinvest, NLMK Group, Pipe Metallurgical Company, Severstal, Russian Steel Association and others. In the Worldsteel’s top 50 global steelmakers, NLMK took 21st place, Evraz 34th, and Severstal 40th.

Severstal lost a third of its sales after the European Union imposed sanctions on Oleksiy Mordashov, the company’s main owner and chairman of the board. Evraz is also on the UK sanctions list.