Russia's new strategy to redirect steel exports to the Asian market

The new strategy will include not only the growth of domestic steel consumption, but also the reorientation of export supplies to Asian countries.
Previously, the Russian government announced that some steel companies in Russia would be exempt from paying excise taxes on liquid steel if they produced it for their own needs (see Kallanish passim).

In March, the European Council agreed to adopt a fourth round of EU sanctions against Russia, thus banning imports from Russia of those steel products currently under protective measures. The ban is expected to affect steel exports from Russia by around 3.3 billion euros ($3.63 billion).

The protective measures mainly concern finished long, flat and tubular steel products. The billet and slab are not included in this group and therefore their trade with Europe will continue to be allowed provided that it is not done with companies subject to EU sanctions.

Source: Kallanish