Russia and the European Union reached an agreement on Russian steel supplies after the enlargement of the EU, Deputy Foreign Minister Vladimir Chizhov told journalists. The existing quotas used by the 15 EU members can not be changed after the expansion of the EU.
The existing quota on steel exports to the EU totals 1.38m tons. 10 new countries will become EU members beginning May 1. Russian steel exports to these countries totals about 500,000 tons per year.
According to preliminary data, the EU is ready to increase the existing quota by 437,000 tons of steel. Severstal is to deliver 119,000 tons of the overall amount, Mechel is to deliver 42,000 tons.