Ivan Boyko20:29, 09/05/24

The main volume of cast iron of Russian origin is sent to Italy, Latvia and Poland.

European metallurgical companies have prematurely exhausted the quota for the import of iron originating from the Russian Federation in the amount of 1.14 million tons. At the same time, the import of Ukrainian iron to the EU is decreasing. This is evidenced by the data of the EU Customs.

A complete ban on Russian pig iron, according to the current sanctions packages, will be imposed only in 2026. But there is a suspicion that the Europeans will try to “extend” the same relaxations for cast iron as for slabs, GMK Center writes .

Russian pig iron is an attractive raw material for some European metallurgists, as suppliers from the Russian Federation offer products at significant discounts to attract consumers. The main volume of cast iron of Russian origin is sent to Italy, Latvia and Poland. 

Since the beginning of the war, European metallurgists have reduced the import of pig iron from Ukraine several times, although our producers have the potential to cover the shortage of the corresponding raw materials on the EU market. So, in January-June 2024, purchases fell by 8.5%. 

“From the very beginning of the war in 2022, the European Union began to increase imports of pig iron from Russia. For a long time, the sanctions packages did not include a direct ban on the import of Russian pig iron, since there are factories in the EU that traditionally depend on supplies of pig iron and steel semi-finished products from Russia. In the case with the slabs, the EU relaxed the restrictions and allowed the continuation of imports from Russia. There is a risk that they will try to use this case to remove restrictions on the import of iron from the Russian Federation. The continuation of the import of iron from the Russian Federation will negatively affect the position of Ukrainian producers who could replace these products of Russian production. “, GMK Center analyst Andrii Hlushchenko believes.

We will remind you that earlier PACE deputies called on the European Union to also strengthen sanctions against the Russian metallurgy, because despite all the bans, it continues to earn billions for the war. Through lies and blackmail, the Kremlin managed to extend the quotas for Russian slabs for another four years, although they were supposed to end in September 2024. This will enable the Russian Federation to import products worth more than 8 billion euros into the EU.

We will remind: in the 12th package, the European Union extended the quotas for Russian slabs for another four years. The total amount of the quota for the import of these products from October 2024 to September 2028 is set at 8.5 million tons with a more detailed breakdown by period. Preliminary sanctions on the import of slabs were introduced in October 2022, as part of the 8th package of sanctions. Then it was decided that it can last until the end of September 2024 within the limits of the established quotas, and from October 1, 2024, imports should stop. However, the 12th package of sanctions actually relaxed the previously imposed restrictions.

(C)UNIAN 2024