ArcelorMittal halted its supply to and operations in Russia as a response to the invasion of Ukraine. However, according to reports from the Moscow Times, the steel manufacturer resumed supplies on 10 June and has since delivered 77,000 tonnes of steel to Russia.
Products supplied to Russia are mainly destined for the construction sector and generally come from one of ArcelorMittal’s factories in Kazakhstan, which employs 35,000 people.
ArcelorMittal was unwilling to confirm the news, but a source close to the corporation conveyed to RTL that the EU’s sanctions “are not being circumvented in the area of raw materials or in finished goods”.
In 2021, Russia produced 76 million tonnes of steel, of which about 40 million were exported to Europe. According to the World Steel Association, Russia produced 2.3% less steel between January and May 2022 compared to the same period last year. Russian steelmaker NLMK further forecasts a 15% drop in production in 2022.
