Specifically, in May, Russia increased its exports of iron and steel products to the European Union to 373.1 million euros, up 29% from the previous month and up 1.2% from a year earlier. The main supplies were semi-finished products made of iron or non-alloy steel (175 million euros), as well as ferroalloys (81 million euros).

EU to increase steel imports from Russia to record levels from 2022. Photo: RIA

Italy increased its steel imports by 1.6 times to €120 million, while Russian companies exported to the Netherlands by 7.3 times to €78.5 million. This made Russia the largest supplier of steel to the EU. South Korea rose to second place, increasing its exports by 30% to €366.4 million. India came in third, with its supply halving to €353.8 million.

In addition, Europe's aluminum imports from Russia increased 1.5 times per month, to 97.8 million euros, the highest figure since October 2023. Germany also increased its imports of this metal from Russia the most, 11 times with a value of 16.2 million euros, Italy nearly 4 times with a value of 18.7 million euros and Sweden 5 times with a value of 7 million euros.

Previously, in April, Spain resumed imports of Russian iron and steel after a three-month pause. Madrid stopped buying this metal from Moscow in December 2023 and suspended it until April 2024. In mid-spring, imports resumed with 21.3 thousand tons worth 8 million euros. Spain also increased its aluminum imports by 1.5 times to 13 million euros, while titanium imports from Russia increased by 1.9 times to 1.5 million euros.