The EU wants to continue the grace period for importing some types of metals from the Russian Federation - Bloomberg

According to journalists, a grace period for the purchase of Russian steel can be extended until October 2028. The Member States of the European Union intend to agree to the four-year continuation of the grace period to buy some types of steel in the Russian Federation before the implementation of a full ban on import. Bloomberg writes about it with reference to the relevant document.

The European Union introduced a ban on the purchase of Russian steel rental in 2022, but for some types of products it was provided for a grace period until October 1, 2024. According to the documents that they read in the agency, this period can be extended until October 2028. The authors of the publication note that the decisions have not yet been made and the intentions of the EU countries may change.

According to journalists, the grace period enables one of the largest Russian manufacturers to PJSC PJSC Patric period enables the "Novolypetsky Metallurgical Plant" to ship steel slaves for processing at a joint venture with an investment unit of the Vallonia government in Belgium, which owns plants throughout Europe.

It is reported that the joint venture was asked to extend the grace period in exchange for investments in a new electric furnace, which should make the products more environmentally friendly. The press service of the Novolypetsky Metallurgical Plant refused to comment on the situation. We will remind that on December 18 it is planned a brief procedure of adoption and further publication of the 12th package of sanctions of the European Union against Russia.