sanctions

High energy prices have already caused steel and its production prices growth in the region

Countries may introduce barter trade, which will allow Iran to produce steel, and Russia – car parts and gas turbines

Sanctions imposed since early 2022, taxes and a "strong" ruble make export profitability zero or negative

With the sanctions imposed, they had to find new markets and sell at a discount of up to 25%

The plant lost 15.4 thousand tons of slabs due to sanctions against a Russian shipowner who delivered steel to Polish ports

European Union proposes to set a period for the introduction of a ban on imports: six months for crude oil, refined – at the end of the year

Also, EU’s sixth package of sanctions may include the disconnection of Sberbank from SWIFT

The country also closed borders for Russian trucks

Polish authorities assure no shortage expected

Market cyclicality affects the number of measures introduced, but not their easing

Voluntary exclusion of Russian products from the supply chain of companies can be more significant than country-level sanctions

It includes oil restrictions and cutting off new banks from SWIFT