Russia still earning millions from exporting steel to EU, states Eurostat
Photo: Russia still earning millions from exporting steel products to the EU (GettyImages)
The European Union imported €93.21 million worth of Russian steel products in November alone. Compared to November 2022, the EU reduced imports of such products by 38.7%, according to Eurostat.
Expenditure on the import of Russian products amounted to €93.21 million, which is 23.5% less compared to October and 43.5% less compared to November 2022.
The majority of the imports consist of semi-finished products, constituting 83% of the total volume of deliveries. A significant portion of Russian semi-finished products was directed to Belgium. Russia also exported cast iron and ferroalloys to the EU.
Thus, despite the sanctions imposed against Russia, the mining and metallurgical complex of Russia continues to generate significant profits from exporting products to the European Union. Although the indicators have decreased significantly compared to 2022, the deliveries remain at a high level.
It is worth noting that in the 12th package, the European Union extended quotas on Russian slabs for another four years, which actually eased the previously imposed restrictions.
