PACE deputies urged the EU to toughen sanctions on Russia’s metallurgy

Deputies of Poland, Estonia, and Ukraine submitted the appeal to Joseph Borrell. According to them, there are EU enterprises, belonging to or being connected to Russia. Owners of these companies enjoy all the privileges of living in democratic states and enrich the Kremlin simultaneously. A bright example is Novolipetsk Steel and Vladimir Lisin, its owner. This enterprise operates steel plants in Belgium, Italy, and Denmark. Moreover, this company is one of the biggest producers of electrical steel in the Russian Federation, assisting the Russian military-industrial complex in manufacturing the Osa and Tor missile systems, radars for the S-400 systems, and intercontinental ballistic missiles.

Metallurgy is the basis of the Russian economy, and the Kremlin earns billions of dollars by undermining fair competition and international trade. Since the Kremlin has so many available energy resources, it allows Russian enterprises to manufacture cheap commodities and engage in dumping on the market, causing losses to various competitors. Furthermore, the twelfth sanctions package relaxed the restrictions, which had been previously introduced. Thus, it allowed Russia to export slabs until October 2028, and the owner of Novolipetsk Steel lobbied for these relaxations. Delaying the imposition of comprehensive restrictions will provide Russia with at least $2 billion in 2024, turning this money into new missiles for killing Ukrainian civilians and destroying their homes.

The authorities should impose sanctions more consistently and stop the possibility of importing Russian metal commodities into the EU completely. This is the only way to thwart growth of the Russian economy and defeat the Kremlin.

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