EU Set to Extend Grace Period for Some Russian Steel Imports
- NLMK may be able to ship slabs to the bloc through 2028
- Previous deadline for the imported steel was Oct. 2024
Bundles of steel reinforcement rods in a storage area of a metallurgical plant in Novokuznetsk, Russia.
Photographer: Andrey Rudakov/BloombergThis article is for subscribers only.
European Union member states are set to agree to a four year extension of a grace period for sales of some types of Russian steel before a complete ban on the imports, according to documents seen by Bloomberg News.
The EU banned imports of rolled, semi-finished steel products from Russia in Oct. 2022, but granted a grace period for shipping some goods through Oct 1, 2024. That period would be extended through Oct. 2028, the documents show. The measures still need to be adopted by member states and could change before then.