Photo: Metinvest
The discussion was held in Milan at a charity evening in support of Ukrainians affected by the war
EUROFER called for tougher sanctions against the export of Russian steel products and iron ore to the EU.
The European Steel Association (EUROFER) called for strengthening sanctions against the export of Russian steel products and iron ore raw materials to the European Union. This was stated in Milan by EUROFER CEO Axel Eggert during a panel discussion on the future of Ukraine and Italy’s contribution to the country’s reconstruction, Metinvest reports.
“I discussed sanctions against the export of Russian steel and raw materials to the EU with Ukrainian businesses and Metinvest in particular. We are talking about 40 raw materials coming from Russia and Ukraine to the EU steel industry. We must help. It is very important to help Ukraine get out of this terrible situation, and peace reigned in Europe again,” Eggert said.
According to him, the sanctions, which first concerned the export of more than 5 million tons of Russian metal products, and then semi-finished products and iron ore, also affect the work of the association’s member companies, which need to find resources for production in these difficult conditions.
“This is not an easy task, but it must be done. We need to cut off money flows to Russia. Only this will help end the war sooner or later,” added EUROFER CEO.
In turn, Lucia Morselli, CEO of Acciaierie d’Italia (ADI), a joint venture of metallurgical company ArcelorMittal in Italy, noted that Europe has lost about 20 million tons of steel from Ukraine.
“Ukrainian products in the EU were replaced by imports from Asia, in particular, India, Korea and Japan. It was a big loss for Europe – opening the market for steel from Asian countries, which have a different cost structure, a different environmental approach, a different labor cost, especially the cost of energy carriers. For Europe, this was a real shock,” she said.
It should be noted that the discussion took place in Milan at a charity evening in support of Ukrainians who suffered in the war, organized by the humanitarian initiative of the Metinvest Group “Save Life”. At the same event, a charity auction was held, during which 300 thousand euros were collected for prosthetics for Ukrainians.
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