sanctions - Latest news GMK Center

Due to the loss of Western customers, seizure of property and account balances in Europe, the company's income decreased

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

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

Russian enterprises redirected volumes to Asia and changed the sales portfolio

Ukraine is ready to replace the Russian Federation in the markets of iron ore and other products

Producers fear that steel from the Russian Federation, which was previously supplied to the EU, will be redirected to the UK

Russia's NLMK is also looking for alternative suppliers for European assets

The European Commission expanded the list of restrictions, but postponed their entry into force until 2023-2024

The new package of sanctions provides for restrictions on the import of finished products and semi-finished steel products from the Russian Federation, as well as restrictions on oil prices

The Bureau of Investigation continues to conduct research on companies owned by Russian structures or citizens

Imports of steel semis over the same period reduced by 53.3%

Russian suppliers are gradually occupying the traditional export markets of Ukrainian steel plants