European Parliament, EC confirm intention to stop importing Russian slabs as of Oct 2028

MOSCOW. June 24 (Interfax) - The European Union intends to phase out slab imports from Russia completely as of October 2028, when the quotas extended in 2023 expire.

"[...] The European Parliament, the Council, and the Commission emphasize that the relevant restrictive measures adopted by the Council set a trajectory leading to the complete phase-out of remaining imports of Russian steel products, in particular steel slabs, by 30 September 2028," according to a joint statement by the European Parliament, the European Council, and the European Commission published on Wednesday.

The EU will continue to limit imports of Russian slabs, subject to an annually decreasing quota, until 30 September 2028. This measure will ensure the gradual and sustainable diversification of the European steel industry, according to the statement.

In 2023, as part of the 12th sanctions package, the EU extended a temporary exemption on the import of certain types of Russian semi-finished steel products that strictly meet the necessary technical requirements. This applies particularly to the supply of slabs (CN 7207 12 10) and billets (CN 7224 90) to the region. The exemption allows NLMK to ship steel slabs for processing in Europe during the production of finished products. The company has production assets in Belgium (NLMK La Louviere, NLMK Clabecq), Denmark (NLMK DanSteel), and Italy (NLMK Verona).