Germany’s largest steel company Thyssenkrupp Steel has spoken out against the import of steel from Russia, emphasizing that they are forced to reduce their own production but continue to finance the military machine of the Russian Federation, agronews.ua reports.
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“It is grotesque: the EU allows massive imports of steel from Russia, while our domestic industry is suffering. We are facing job cuts, while at the same time financing the Russian military economy by buying slabs. I cannot explain this to any of my employees,” said Thyssenkrupp Steel CEO Dennis Grimm.
According to the German Steel Federation, the import of steel billets and semi-finished products from Russia to the EU has increased to 3.56 million tons this year compared to 3.26 million tons last year.
“Despite comprehensive sanctions, Russian steel companies are allowed to export products to the EU on a large scale. This has serious consequences for steel producers in Germany and Europe. Given the massive import crisis facing the European steel industry, this exception is absolutely incomprehensible and indirectly supports the escalation of the war by Russia in Ukraine. This loophole finally needs to be closed: if not through sanctions, then through effective EU tariffs on Russian metal,” said Managing Director of the German Steel Federation Kerstin Maria Rippel.
As known, in the first half of 2025, the European Union imported 2.95 million tons of metallurgical products from Russia. The main positions were semi-finished products and pig iron. Despite the existing sanctions, the import volume increased by 2.7% y/y, enriching Russia by €1.22 billion.
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Теги: Economic impact, EU tariffs, European steel industry, European Union, Germany, import crisis, import volume, Metal products, metallurgical products, Russia, Russian Federation, sanctions, sanctions on Russia, steel companies, steel imports, Steel Industry, steel production, Thyssenkrupp Steel, War in Ukraine