Commenting on possible new EU sanctions against Russia, Thilo Brodtmann, Executive Director of VDMA, says:

“It is important that the EU responds with further sanctions to the war in Ukraine, which is being waged ever more violently by Russia. In order to exert as much pressure as possible on the Russian government and at the same time soften the impact in Europe, the EU should take additional measures to stabilise the supply chains of the European economy. This includes facilitating the supply of key inputs to the European economy – for example, steel from third countries that are not parties to the war. Ukraine as well as Russia and Belarus are important steel producers and suppliers for the EU.VDMA is calling on the EU Commission to suspend all EU steel tariffs, EU steel quotas and EU dumping duties on steel products in the short term.Thilo Brodtmann, VDMA Executive Director

As a result of the Russian war against Ukraine, steel products are becoming increasingly scarce in the EU. VDMA is therefore calling on the EU Commission to suspend all EU steel tariffs, EU steel quotas and EU dumping duties on steel products in the short term. Such a temporary suspension could potentially lead to additional imports of steel products from third countries into the EU and thus stabilise the supply chain of the European engineering industry.”