Ivan Boyko12:04, 22.10.24
Ukrainian metallurgists insist on strengthening sanctions against Russia.
The European Union (EU) imported 3.9 million tons of metallurgical raw materials of Russian origin in January-August 2024. Expenditures on imports of the corresponding products reached €1.87 billion. This is evidenced by calculations by GMK Center based on Eurostat data. Thus, by the end of the year, Russia will earn at least 3 billion euros on metal exports to the EU.
The bulk of imports are semi-finished products: 2.14 million tons of slabs and blanks were sent to the EU over 8 months. Expenditures on the corresponding imports amounted to €1.1 billion. The largest consumers of semi-finished products from the Russian Federation are Belgium, Italy, Denmark and the Czech Republic.
Large volumes of imports also include pig iron – 949.07 thousand tons, worth €388.03 million. The main volumes were sent to Italy and Latvia – 114.6 thousand tons (+78.4% year-on-year).
Supplies of Russian-made ferroalloys to the EU market increased by 114.9% in January-August 2024. Import expenses amounted to €118.98 million (+43.9% y/y). More than 80% of supplies came from the Netherlands – 51.48 thousand tons (+152.5% y/y).
“The European Union continues to import significant volumes of metal products from the Russian Federation. This trend is predictable, since Russian manufacturers offer products at significant discounts. In addition, sanctions packages have not included, or will not include, a complete ban on such imports for a long time. In the case of slabs, the European Commission decided to ease the restrictions and allow imports from Russia to continue. There is a risk that this case will be used to lift restrictions on the import of cast iron from the Russian Federation. At the same time, Ukraine, as a future EU member, has every opportunity to replace products from Russian manufacturers on the European market,” GMK Center points out.
Let us recall that the Kyiv Post wrote that thousands of European companies and entrepreneurs are using loopholes and backdoors to the Russian market, using third countries or subsidiaries, and thus bypassing international sanctions, so these sanctions should be strengthened.
Earlier, PACE deputies called on the EU to strengthen sanctions against the Russian metallurgy industry, since it continues to earn billions from the war. However, through lies and manipulation, the Kremlin managed to extend quotas for Russian slabs, which it will supply to the EU for another four years. This will give Russia the opportunity to earn another 8 billion euros from the war.
(C)UNIAN 2024