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The European Steel Association wants more sanctions against Russia

Photo: Metinvest

EUROFER has called for tougher sanctions against the export of Russian steel products and iron ore to the EU.

The European Steel Association (EUROFER) has called for the strengthening of sanctions against the export of Russian steel products and iron ore raw materials to the European Union. EUROFER CEO Axel Eggert said this in Milan during a panel discussion on the future of Ukraine and Italy’s contribution to the country’s reconstruction, Metinvest reports.

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“I discussed the sanctions against the export of Russian steel and raw materials to the EU with Ukrainian enterprises and Metinvest in particular. We are talking about 40 raw materials coming from Russia and Ukraine to EU steel industry. We must help. This is very important to help Ukraine get out of this terrible situation, and peace reigns in Europe again,” said Eggert.

According to him, the sanctions, which first concern the export of more than 5 million tons of Russian metal products, and then semi-finished products and iron ore, also affect the work of association member company, which needs to find resources for production. in these difficult conditions.

“It is not an easy task, but it must be done. We have to cut off the money flows to Russia. Only this will help end the war sooner or later,” added the EUROFER CEO.

In this regard, Lucia Morselli, CEO of Acciaierie d’Italia (ADI), a joint venture of the metallurgical company ArcelorMittal in Italy, said that Europe lost about 20 million tons of steel from Ukraine.

“Ukrainian products in the EU have been replaced by imports from Asia, in particular, India, Korea and Japan. This is a big loss for Europe – opening the market for steel from Asian countries, with others’ “a different cost structure, a different approach to the environment, different labor costs, especially the cost of energy carriers. For Europe, this is a real shock,” he said.

It should be noted that the discussion took place in Milan at a charity evening in support of Ukrainians who suffered in the war, organized by Metinvest Group’s humanitarian initiative “Save Life”. At the same event, a charity auction was held, where 300 thousand euros were collected for prosthetics for Ukrainians.

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Source: korrespondent

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