Sanctions against Russian iron: Ukrainian producers ready to replace Russian imports on European market
Pravda Ukraine
The National Association of Extractive Industries of Ukraine (NADPU) has urged the European Union to take measures to halt imports of iron ore and ferrous metals from Russia. In 2023, Russia sold €3 billion worth of iron ore and ferrous metals.
Source: This is stated in the message of NADPU
NADPU wrote to the President of the European Commission, France’s Minister of Foreign Affairs, and other key European authorities, urging them to take quick action.
Quote: “We are grateful to the European Union for the sanctions imposed on the Russian production of MMC. However, unfortunately, they are not complete. As a result, the import of iron ore and metallurgical products from Russia still remains at a high level. Thus, in 2023, Russia sold MMC products to the EU for 3 billion euros, which were redistributed to finance the Russian military machine,” it was stated in the message.
In 2023, Russia was still able to sell iron ore products and ferrous metals worth 3 billion euros, which contributed to financing the war against Ukraine and democracy.
“Russian MMC products on the EU market have a negative impact on European and Ukrainian companies, as Russian exporters are dumping on the European market, making other producers uncompetitive,” the Association said.
The NADPU specified that sanctions have not been imposed on Russian iron ore products, including sintered ore, concentrate, and pellets. In the 12th package of sanctions, the period of sanctions exceptions for Russian slabs was extended for 4 years, covering the needs of Russian rolling mills in the EU and sales to other plants.
The 12th package included more penalties on Russian cast iron and iron direct recovery DRI/HBI, but it also included inflated quotas during the transition period, so that in 2024, the quota for cast iron is more than 80% of Russia’s imports in 2023.
“Ukraine, together with other countries producing MMC products, can easily replace Russian MMC products on the European market, and this should be a testament to partnership relations and support for European and Ukrainian businesses. We call on the EU to take active action and count on mutual understanding and support,” the Association noted.
NADPU proposes amending EU sanctions legislation to include an embargo on iron ore products, as well as reducing import quotas for cast iron, direct reduction iron and slabs.
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