The European Uunion Council has agreed on a fourth package of restrictive measures against Russia in response to the Russian invasion of Ukraine to ramp up economic pressure on the Kremlin and cripple its ability to finance its invasion of Ukraine. The measures, which have been coordinated with the EU's international partners, notably the United States, include first and foremost a total ban on any transactions with certain Russian state-owned enterprises in various sectors linked to the Kremlin's military-industrial complex. An import ban was introduced for steel products currently subject to EU safeguard measures. To compensate for the non-arrival of these steel products in the EU, import quotas allocated to other countries will be increased. It shall be prohibited to import, directly or indirectly, iron and steel products as listed below if they originate in Russia or have been exported from Russia as well as ban their transportation. It seems that semi-finished products such as billet and slab are not subject to the sanctions.However, the prohibitionsshall not apply to the execution until 17 June 2022 of contracts concluded before 16 March 2022, or ancillary contracts necessary for the execution of such contracts------------------------------------Steel Items in Prohibited List------------------------------------Non Alloy and Other Alloy Hot Rolled Sheets and StripsNon Alloy and Other Alloy Cold Rolled SheetsElectrical Sheets (other than GOES)Metallic Coated SheetsTin Mill productsNon Alloy and Other Alloy Quarto PlatesStainless Hot Rolled Sheets and StripsStainless Cold Rolled Sheets and StripsStainless Hot Rolled Quarto PlatesNon Alloy and Other Alloy Merchant Bars and Light SectionsRebarsStainless Bars and Light SectionsStainless Wire RodNon Alloy and Other Alloy Wire RodAngles, Shapes and Sections of Iron or Non Alloy SteelSheet PilingRailway MaterialOther tubes, pipesHollow sectionsSeamless Stainless Tubes and PipesOther Seamless TubesLarge welded tubesOther Welded PipesNon-alloy and other alloy cold finished barsNon Alloy WireAdditionally, European Council considers that 15 individuals and 9 entities should be added to the list of persons, entities and bodies subject to restrictive measures -------------------Steel Oligarchs-------------------Roman ABRAMOVICH, EVRAZViktor RASHNIKOV, MMKAlexander SHOKHIN, Mechel
The European Uunion Council has agreed on a fourth package of restrictive measures against Russia in response to the Russian invasion of Ukraine to ramp up economic pressure on the Kremlin and cripple its ability to finance its invasion of Ukraine. The measures, which have been coordinated with the EU's international partners, notably the United States, include first and foremost a total ban on any transactions with certain Russian state-owned enterprises in various sectors linked to the Kremlin's military-industrial complex. An import ban was introduced for steel products currently subject to EU safeguard measures. To compensate for the non-arrival of these steel products in the EU, import quotas allocated to other countries will be increased. It shall be prohibited to import, directly or indirectly, iron and steel products as listed below if they originate in Russia or have been exported from Russia as well as ban their transportation. It seems that semi-finished products such as billet and slab are not subject to the sanctions.However, the prohibitionsshall not apply to the execution until 17 June 2022 of contracts concluded before 16 March 2022, or ancillary contracts necessary for the execution of such contracts------------------------------------Steel Items in Prohibited List------------------------------------Non Alloy and Other Alloy Hot Rolled Sheets and StripsNon Alloy and Other Alloy Cold Rolled SheetsElectrical Sheets (other than GOES)Metallic Coated SheetsTin Mill productsNon Alloy and Other Alloy Quarto PlatesStainless Hot Rolled Sheets and StripsStainless Cold Rolled Sheets and StripsStainless Hot Rolled Quarto PlatesNon Alloy and Other Alloy Merchant Bars and Light SectionsRebarsStainless Bars and Light SectionsStainless Wire RodNon Alloy and Other Alloy Wire RodAngles, Shapes and Sections of Iron or Non Alloy SteelSheet PilingRailway MaterialOther tubes, pipesHollow sectionsSeamless Stainless Tubes and PipesOther Seamless TubesLarge welded tubesOther Welded PipesNon-alloy and other alloy cold finished barsNon Alloy WireAdditionally, European Council considers that 15 individuals and 9 entities should be added to the list of persons, entities and bodies subject to restrictive measures -------------------Steel Oligarchs-------------------Roman ABRAMOVICH, EVRAZViktor RASHNIKOV, MMKAlexander SHOKHIN, Mechel
