Ukraine’s leading steelmaker Metinvest’s CEO Mr Yuriy Ryzhenkov `in an interview to the leading Italian newspaper Corriere della Sera has appealed to the European Union to strengthen sanctions on Russian steel. Mr Ryzhenkov told “Leaving loopholes, you are actually putting at a disadvantage bona fide European producers who do not want to sponsor aggression. The EU is putting at a disadvantage its players who want to support Ukraine. Therefore, we believe that it would be better if this loophole was eliminated.” He told “In terms of market share, they have a difficult situation. There is the eighth package of sanctions imposed by the EU against Russia in October, including a ban on the supply of steel products to the EU. But, unfortunately, there is a loophole there, which gives a two-year delay to many Russian manufacturers for the import of Russian semi-finished products to the European Union.” He also said “European importers who buy semi-finished products at very low prices have an advantage over other manufacturers in the European Union who refuse to buy from Russians. Thus, the latter, including Metinvest's plants in Italy and the UK, are at a disadvantage. This is an unpleasant situation. Russia is unfairly taking away market shares of more prudent producers, such as Metinvest and other European producers, who refuse to buy from Russians because of their unwillingness to sponsor the Russian economy. I hope this sanctions loophole will be closed in the next two packages.”
Ukraine’s leading steelmaker Metinvest’s CEO Mr Yuriy Ryzhenkov `in an interview to the leading Italian newspaper Corriere della Sera has appealed to the European Union to strengthen sanctions on Russian steel. Mr Ryzhenkov told “Leaving loopholes, you are actually putting at a disadvantage bona fide European producers who do not want to sponsor aggression. The EU is putting at a disadvantage its players who want to support Ukraine. Therefore, we believe that it would be better if this loophole was eliminated.” He told “In terms of market share, they have a difficult situation. There is the eighth package of sanctions imposed by the EU against Russia in October, including a ban on the supply of steel products to the EU. But, unfortunately, there is a loophole there, which gives a two-year delay to many Russian manufacturers for the import of Russian semi-finished products to the European Union.” He also said “European importers who buy semi-finished products at very low prices have an advantage over other manufacturers in the European Union who refuse to buy from Russians. Thus, the latter, including Metinvest's plants in Italy and the UK, are at a disadvantage. This is an unpleasant situation. Russia is unfairly taking away market shares of more prudent producers, such as Metinvest and other European producers, who refuse to buy from Russians because of their unwillingness to sponsor the Russian economy. I hope this sanctions loophole will be closed in the next two packages.”
