Germany’s largest steel producer, Thyssenkrupp Steel, has voiced concerns over the continued and substantial import of steel from Russia into the European Union.
Dennis Grimm, CEO of Thyssenkrupp Steel, highlighted the situation in an interview with the Westdeutschen Allgemeinen Zeitung, stating what he described as a paradoxical scenario: domestic steel industries struggling while significant volumes of steel are imported from Russia. He emphasized the challenges facing his own workforce, including potential job losses, while simultaneously contributing to Russia’s economy through the purchase of steel ingots.
According to data from the German Steel Association, the volume of steel block and semi-finished steel products imported from Russia into the EU has risen to 3.56 million tons this year, compared to 3.26 million tons in the previous year.
Despite extensive sanctions already in place, Russian steel companies continue to supply significant quantities into the EU, according to Kerstin Maria Rippel, managing director of the German Steel Association. She stated that this situation is having “serious consequences” for steel producers in Germany and across Europe. Rippel advocated for further action, noting that the existing exemptions are “completely incomprehensible” given the challenges facing the European steel industry and may indirectly support Russia’s actions in Ukraine. She suggested closing this “gap” through sanctions or through the implementation of effective EU tariffs on Russian steel.
