Spain resumes import of Russian iron, steel

WORLD  16 June 2024 - 09:56

Spain has resumed importing Russian steel and iron after a three-month pause.

Madrid halted purchases of the metals from the sanction-hit country last December but resumed the import this April, according to RT.

Since then Spain has bought 21,300 tons of Russian iron and steel worth eight million euros ($8.57 million).

Spanish imports of Russian aluminum reportedly increased 50 per cent to 13 million euros ($13.9 million), while purchases of titanium nearly doubled to 1.5 million euros ($1.6 million). This comes even as bilateral trade between Russia and Spain dropped 14 per cent in April to 248 million euros ($265 million), with Russian exports totaling 177.2 million euros ($189 million).

The EU banned imports of Russian iron and steel products in 2022, shortly after the launch of Moscow’s military campaign against Ukraine. Further restrictions barred the import of iron or steel products processed in third countries but containing Russian-origin iron or steel inputs. 

Caliber.Az