Iran may barter car parts, gas turbines for Russia’s steel

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

Russian steel companies expect losses and production cuts

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

Russian steelmakers have sharply increased sales of semi-finished products to China

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

Vitkovice Steel suspends operations due to slab supply interruptions

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

EC has approved a proposal on the sixth sanction package against Russia

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

EU likely to approve phased ban on Russian oil next week

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

Norway banned Russian ships from entering its ports

The country also closed borders for Russian trucks

The war in Ukraine intensified protectionism effects in the world

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

Why sanctions against Russian steel export didn’t work

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

EU prepares sixth package of sanctions against Russia

It includes oil restrictions and cutting off new banks from SWIFT

US bans Russian ships from its ports

Earlier, a similar decision was made in the European Union

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