The Russian Ministry of Industry and Trade on 25 November announced a special tariff on hot-rolled steel imports from 1 December to 31 March 2020.
Unless they hold a valid import licence, Russian steel companies such as Evraz will have to pay a 20% special duty.
“This is the first experience of protecting the domestic market in the space of the Eurasian Economic Union,” said trade and industry minister Denis Manturov. “The introduction of a special quota for the import of hot-rolled steel will prevent the damage that could have been caused to Russian ferrous metallurgy by a sharp increase in imports of metal products.”
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