sanctions - Latest news GMK Center

German Vice Chancellor Lars Klingbeil called for closing the «loophole» in sanctions and strengthening the protection of European steelmakers

Market players are trying to predict the consequences of this decision

The restrictions cover exports, imports, and financial transactions, with current contracts remaining in force until 2026

Some MEPs and steel companies demand to remove exemptions from sanctions against steel from Russian Federation

Such cooperation is also important for strengthening sanctions against the Russian Federation

In addition to sanctions, this could be a public procurement policy

Cheap Russian raw materials undermine the green transition of European steel industry

The government authorized the purchase of Russian steel for nuclear power plants despite the current EU embargo

Ukrainian producers face competition from the Russian Federation, in particular due to cheap Russian slabs supplied to the EU

The main volume is accounted for by steel semi-finished products, DRI and pig iron

The main volume is accounted for by steel semi-finished products, DRI and pig iron

The quota for the current year is 1.14 million tons, and its volumes have been exhausted with an expected surplus at the level of 2.2 thousand tons