Jun 26, 2023
New EU sanctions require third-country import non-Russia-origin proof
2023-07-11
EU importers of sanctioned iron and steel goods that have been processed in a third country will now be required to provide proof that the inputs used do not originate from Russia, according to the EU’s 11th package of sanctions announced on Friday.
The tightening of restrictions on steel imports underscores the EU’s commitment to ensuring that sanctioned goods do not find their way into the EU market through circumvention methods. By imposing this requirement, the European Commission aims to prevent Russia from evading sanctions by utilising third-party countries for processing steel goods, Kallanish notes.
By scrutinising the origin of steel inputs, the EU aims to eliminate the risk of Russian involvement in the production process and prevent any financial support inadvertently reaching the country.
The 11th package of sanctions adopted by the EU encompasses a range of trade, transport, and energy measures to reinforce the existing sanctions regime, aiming to curb Russia’s aggression on Ukraine.
Elina Virchenko UAE
Source: Eurometal
