EU Steel Import Cuts Threaten Ukrainian Industry
Interpipe CEO Luca Zanotti says new European Union import quotas could cause irreversible economic setbacks for Ukraine's steel sector. The industry faces an estimated 1.2 billion dollar loss in annual revenue as the bloc reduces duty-free volumes despite a previous three-year exemption.
Ukraine faces a $1.2 billion annual export loss as the European Union plans to slash steel import quotas. The new trade curbs, effective July 1, impose a 50% tariff on volumes exceeding country-specific limits. These measures threaten to destabilize an industrial sector already operating at 20% of its pre-war capacity.
### EU Protectionism Hits War-Torn Industry The European Commission announced it will reduce duty-free import quotas to protect the bloc from global overproduction. Interpipe CEO Luca Zanotti said the move contradicts a previous three-year exemption granted to Ukrainian steel through June 2028. Zanotti noted that the industrial sector remains a critical engine for the country as it fights an invasion by Russia.
