sanctions - Latest news GMK Center

Restricting imports of pig iron from Russia is the most important decision in the new sanctions package

Among the new restrictions included in the 12th sanctions package is also a ban on the import of direct reduction iron

After the occupation of assets in Mariupol, the company completely changed its supply chains and has an understanding of how to do this to EU companies

In November, Ukrmetalurgprom became an associated member of EUROFER, which will allow it to work with the EU steel community

Further prolongation and weakening of sanctions risks becoming a historical mistake, the association believes

The country claims that they still cannot replace Russian supplies

The country is pushing for continued supplies of Russian products despite the 8th package of sanctions

Ukrainian suppliers are ready to replace the products of Russian producers on the EU market in case of sanctions on pig iron and steel from the Russian Federation

In January-September 2023, EU increased the import of pig iron from the Russian Federation by 40% y/y

The main share of imports is semi-finished products – 71.2% of the total volume of supplies

European producers continue to buy products from the Russian steel industry, since the current sanctions do not ban imports completely

Imports of Russian-origin slabs to the EU will be stopped from October 2024, according to the eighth package of sanctions