Posted on 22 Apr 2022
Russian President Vladimir Putin instructed the government to prepare by 1 June an updated strategy for the development of the domestic steel industry through 2030, Kallanish notes.
During a profile meeting with leaders of the Russian metallurgical industry at Wednesday, Putin said that it is necessary to support and stimulate domestic demand for steel products, including by building up construction projects in the country.
The new strategy will provide not only for the growth of domestic steel consumption, but also for the reorientation of export supplies to Asian countries, the presidents claims.
According to him, there is no reason to believe that Europe's position in relation to Russia will change, and this must be taken into account in development programs.
“I will emphasize the importance of domestic demand, because it must be supported and stimulated,” he noted. “First of all, by increasing the volume of housing, infrastructure, commercial and industrial construction, due to the wide production of goods that use metallurgical products...I also asked the government to assist companies in providing them with Russian equipment and consumables, especially for those positions that are needed right now,” he says.
Earlier, the Russian government announced that some steel companies in Russia will be exempted from paying excise taxes on liquid steel if they produce it for their own needs (see Kallanish passim).
In March, the European Council agreed to adopt the EU’s fourth round of sanctions against, thereby banning imports from Russia of those steel products currently under safeguard measures. The ban is expected to impact some €3.3 billion ($3.63 billion) of steel exports from Russia.
The safeguard measures mostly cover finished long, flat and tubular steel products. Billet and slab are not included in the group, and their trade with Europe will therefore continue to be accepted, provided it is not done with companies sanctioned by the EU.
Source:Kallanish
