Iron and Steel: Russia
Question
Bill Esterson
To ask the Secretary of State for Business and Trade, what estimate she has made of the amount of Russian steel that has entered the UK after being processed in third countries since sanctions were introduced.
Answer
Ms Nusrat GhaniUK sanctions cover over £20bn of UK-Russia trade, and goods imports from Russia have fallen 99.2% in the 3 months to January 2023 compared to 3 months to January 2022.
Through our sanctions packages, the UK has targeted steel products as a key Russian revenue source. Measures have included banning the import of all finished steel, and the application of an additional tariff of 35 percentage points on all steel from Russia. Our most recent package of sanctions, which entered into force on 21 April 2023, bans the import of further steel products, as well as the import of all Russian steel processed in third countries from September.
We will continue applying pressure against Putin and his regime, until Ukraine prevails or Putin ends his war of choice.