The German authorities are calling on the European Union to stop importing steel from Russia. Federal Vice Chancellor and Minister of Economy Lars Klingbeil made this demand before the industry at the upcoming 'steel summit', where issues regarding steel imports into the EU will be discussed.
'Steel slabs produced in Russia and processed in the EU are currently not subject to sanctions. It has been impossible to justify this to our steel industry why Europe still keeps the market open for Putin,' Klingbeil stated in a sharp tone.
The minister called for more 'European patriotism' in steel production and emphasized the importance of using local steel in key sectors of the economy, such as infrastructure and the automotive industry.
The deep crisis of the German steel industry
A decline in demand in the automotive industry, rising energy prices, and cheap imports from China have led to serious problems in the industry. Additional blows are dealt by high levels of American tariffs on steel imports. A discussion of comprehensive solutions to address these issues, including sustainability and trade relations, is planned for the upcoming summit on November 6.
A German representative urged the European Union to stop importing steel from Russia, emphasizing the importance of supporting domestic production and addressing the challenges facing the steel industry amid a deep crisis.