EUROFER, the European Steel Association, commends the European Antifraud Office (OLAF) and the European Public Prosecutor Office (EPPO) for their joint efforts in uncovering fraud within the steel market. OLAF's investigations revealed that an EU importer had been evading the payment of anti-dumping duties through deceptive import declarations. The financial damage caused across the European Union amounts to €6.5 million, with potential additional consequences both in financial and criminal terms.The fraudulent activities were centered around the importation of heavy plates from China, which were deliberately misclassified to avoid an average anti-dumping duty of 73.3%. OLAF was alerted to a suspicious shipment by anonymous sources, and with the cooperation of customs authorities in various EU member states, a series of similar fraudulent activities by the same company were uncovered. OLAF determined that the company may have been involved in an organized conspiracy to evade taxes, leading to the report of the matter to the EPPO.Before the imposition of anti-dumping duties, China was the primary source of heavy plate imports, accounting for almost 50% of the total EU imports in 2015. While the anti-dumping duties effectively balanced the playing field with Chinese imports, other countries, including South Korea, Indonesia, India, Japan, and Turkey, increased their steel exports to the EU by nearly 500% compared to 2015. These fraudulent practices undermine the effectiveness of trade defense measures and distort fair competition in the steel sector.EUROFER emphasizes the importance of investigating and penalizing such fraudulent practices to ensure the enforcement of trade defense measures and maintain a level playing field in the steel market. The association has actively supported OLAF and provided expertise and evidence to assist in the investigation. EUROFER reaffirms its commitment to cooperating with OLAF, EPPO, and other European institutions to prevent fraud and circumvention of EU laws, including trade defense instruments, sanctions, and the Carbon Border Adjustment Mechanism (CBAM).
EUROFER, the European Steel Association, commends the European Antifraud Office (OLAF) and the European Public Prosecutor Office (EPPO) for their joint efforts in uncovering fraud within the steel market. OLAF's investigations revealed that an EU importer had been evading the payment of anti-dumping duties through deceptive import declarations. The financial damage caused across the European Union amounts to €6.5 million, with potential additional consequences both in financial and criminal terms.The fraudulent activities were centered around the importation of heavy plates from China, which were deliberately misclassified to avoid an average anti-dumping duty of 73.3%. OLAF was alerted to a suspicious shipment by anonymous sources, and with the cooperation of customs authorities in various EU member states, a series of similar fraudulent activities by the same company were uncovered. OLAF determined that the company may have been involved in an organized conspiracy to evade taxes, leading to the report of the matter to the EPPO.Before the imposition of anti-dumping duties, China was the primary source of heavy plate imports, accounting for almost 50% of the total EU imports in 2015. While the anti-dumping duties effectively balanced the playing field with Chinese imports, other countries, including South Korea, Indonesia, India, Japan, and Turkey, increased their steel exports to the EU by nearly 500% compared to 2015. These fraudulent practices undermine the effectiveness of trade defense measures and distort fair competition in the steel sector.EUROFER emphasizes the importance of investigating and penalizing such fraudulent practices to ensure the enforcement of trade defense measures and maintain a level playing field in the steel market. The association has actively supported OLAF and provided expertise and evidence to assist in the investigation. EUROFER reaffirms its commitment to cooperating with OLAF, EPPO, and other European institutions to prevent fraud and circumvention of EU laws, including trade defense instruments, sanctions, and the Carbon Border Adjustment Mechanism (CBAM).
