9,367.77 TRY BIST 100 BIST 100
4.79 CNY CNY CNY
34.56 USD USD USD
36.19 EUR EUR EUR
4.79 CNY CNY CNY
34.56 USD USD USD
36.19 EUR EUR EUR
1.00 CNY CNY/CNY CNY/CNY
41.35 TRY Interest Interest
74.24 USD Fossil Oil Fossil Oil
30.90 USD Silver Silver
4.09 USD Copper Copper
100.80 USD Iron Ore Iron Ore
365.00 USD Shipbreaking Scrap Shipbreaking Scrap
2,982.57 TRY Gold (gr) Gold (gr)

Lithuania proposes ban on Russian scrap imports

In a collective effort led by Lithuania and supported by Latvia, Estonia and the Czech Republic, a proposal has been put forward in the European Union to ban imports of Russian ferrous metals, copper, and aluminium waste and scrap.

Lithuania proposes ban on Russian scrap imports

The initiative is aimed at assessing whether to impose sanctions against Russian scrap entering the EU or to allow member states to adopt unilateral restrictive measures. The proposal has received significant support among these EU countries.

In 2023, Russia exported 149,200 tonnes of scrap to the EU, 64% more than in 2022. 146,900 tonnes of this volume was shipped to Lithuania and the rest to Latvia. Given the total volume of exports outside the Eurasian Economic Union (EAEU) last year, which was 1.04 million tonnes, Russian traders could lose 15% of exports or be forced to look for alternative markets if such measures are adopted.

The proposal was formally presented at an Environment Council meeting in Brussels on 25 March. Ambassador Jurga Kasputene, Lithuania's Deputy Permanent Representative to the EU, spoke in favour of the proposal, emphasising the need for the European Commission to carefully assess all available options at EU level. She stated that these imports are believed to contribute directly to financing Russia's ongoing conflict against Ukraine and should therefore be stopped.

The Environment Ministry revealed that between 2022 and 2023, the EU imported ferrous metals, copper, and aluminium waste and scrap valued at over 118 million euros from Russia, with a significant portion of these imports passing through Lithuania.

Comments

No comment yet.

Only +plus subscribers can access this content.

SUBSCRIBE now to share your thoughts on the markets and get more comments.
SUBSCRIBE If you already have an account Sign In

Most read news

A new era begins in the Indian steel sector

Thursday, November 21, 2024

China's HRC, CRC and rebar production decreased y-o-y in October

Thursday, November 21, 2024

HRC prices decline from China to Middle East

Thursday, November 21, 2024

EU construction decreased in september

Thursday, November 21, 2024

Iranian analyst Keyvan Jafari Tehrani shared the effects of world politics on the steel industry

Thursday, November 21, 2024
Follow List
Expand
Your watch list is empty

Add your favorite commodities for quick access and don't miss the latest price change news.


There are no news categories you follow
Edit Notification Preferences
E-bulletin subscription
Sign up to receive the latest news and daily iron prices by e-mail and sms
Become a Plus Subscriber Now!
Try it free for 3 days!
Subscribe Now
Neutral Prices
Be informed
Provincial Iron Prices
Comments and Analysis
Subscribe Now