Currently, nothing prevents Russia from using semi-finished products as weapons, warns Yuri Ryzhenkov.
The European Union should close as soon as possible the loopholes for the import of Russian semi-finished products that remained after the introduction of sanctions. The CEO said this Metinvest Yuri Ryzhenkov at the Siderweb 2024 forum in Vicenza, Italy, the press service of the holding reported on Monday, September 30.
“There is nothing stopping Russia from using semi-finished products as weapons if it understands that Europe depends on these Russian goods. This is one of the reasons why Europe should try to reduce the -import as much as possible,” he said.
According to Ryzhenkov, the second good reason to stop Russian imports is the financing of military aggression due to the purchase of products from the Russian Federation.
“Every time you buy a Russian slab, cast iron or hot briquetted iron, you finance the war against Ukraine. In fact, every euro you pay for it goes to kill another Ukrainian,” the CEO emphasized Metinvest.
In his opinion, the third reason for the reduction of imports from Russia is the subsidization of the import of semi-finished products by Russian energy companies that sell gas to metallurgists within of the country cheaper than Europe.
“So, it’s a very subsidized product. You’re killing European civilians,” Ryzhenkov added.
General Director Metinvest noted that the company does not buy Russian slabs for European rolling mills – in this way it helps the Italian economy revive one of the largest metallurgical assets, which is now in a difficult situation.
If all other producers did the same, it might be easier to build a new steel industry in Italy, says Yuri Ryzhenkov.
Earlier, PACE deputies called on the EU to tighten sanctions against Russia’s metallurgical industry, as it continues to earn billions for the war. However, through manipulation and blackmail, the Kremlin managed to extend the quotas for Russian slabs for another four years, although it was supposed to end in September 2024. This will allow Russia to import more on 8 billion euros worth of products in the EU.
European metallurgists have also reportedly criticized EU sanctions against Russia.
Source: korrespondent
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