Russia reduced iron ore exports to Europe by 4 times y/y in 2022

The export of concentrate fell by 8.5 times y/y, and pellets – by 3.7 times y/y
How Western sanctions affect Russian steel trade

The European market remained open for raw materials from the Russian Federation, the USA introduced minimal bans
The European Union plans to impose a new package of sanctions on Belarus

Restrictions, in particular, will apply to oil, coal, steel products and gold
Russian TMK sold the Romanian pipe plant Artrom Steel Tubes

The sale of the company is likely due to pressure from the Romanian authorities to protect the industry from Russian business
Estonia has imposed a ban on the import of Russian steel and iron

The sanctions came into force on January 9, 2023. Steel products must be returned from the border, abandoned or confiscated
ESB seized 166,000 tons of iron ore of a Russian oligarch worth UAH 1.8 billion

The raw material, which belongs to a citizen of the Russian Federation, was located in several seaports of Ukraine
The Belgian NLMK to resume operation of the hot rolling mill in January

Rolled steel production at the mill was suspended due to problems with the unit

Санкції проти Росії
The European Commission is considering sanctions against Russia’s mining industry

It is proposed to add a ban on new investments in the Russian mining sector to the ninth package of sanctions

Severstal lost more than $400 million due to the effect of Western sanctions

Due to the loss of Western customers, seizure of property and account balances in Europe, the company's income decreased
India increased steel imports from the Russian Federation to a 4-year high in April-October 2022

In 7 months of 2022, Russian steel exports to India increased by 4.4 times y/y – up to 149 thousand tons

The export of Russian steel next year will remain at the level of 2022 — the forecast

Steel production in the Russian Federation will decrease by 6–8% y/y in 2022

Sanctions against the Russian Federation have slightly reduced Russian steel exports

Russian enterprises redirected volumes to Asia and changed the sales portfolio

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