All Russian Metallurgical Products Should be Subject to Sanctions - Yulia Svyrydenko

"Steel is an industry where we are particularly interested in expanding sanctions against Russia and access to the U.S. market. All Russian steel products should come under U.S. sanctions. To that end, we are calling for Ukrainian ore and other products to be included in the Western supply chain and replace Russia in those markets. It is also important to equate Ukrainian ore and cast iron to products from the EU, and to continue the exemption from tax tariffs (at least until the end of 2024) products of Ukrainian exports", the First Deputy Prime Minister said.

It is well known that as part of the fourth package of sanctions, the European Union banned imports of rolled steel products and pipes from Russia starting after April 1th, 2022. The eighth package of sanctions allegedly expands the previously imposed restrictions. However, after analysis, it is clear that the sanctions will not affect exports of Russian steel products: ferrous metals and products made of them are banned, while restrictions do not apply to cast iron and ferroalloys. In addition, the new restrictions on steel imports are effective as of September 30, 2023 and certain semi-finished steel products as of April 1 and even as of October 1, 2024.

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