Sanctions Against Russia: News

News Feed

Belgium has a Russian steel addiction — and doesn't want to fix it

More than four years after the EU began sanctioning Russian steel, Belgium remains a loyal importer — thanks to a sanctions exemption that allows a Russia-based steel giant to continue supplying its Belgian factories with low-cost slabs. Despite sweeping EU sanctions against the Kremlin for its war in Ukraine, Belgium has opposed attempts to sanction the company, NLMK, and its Kremlin-connected billionaire owner, Vladimir Lisin. Belgian officials fear that taking action could hurt employment in

Novolipetsk Steel PJSC plant, operated by NLMK Group, in Lipetsk, Russia, on June 18, 2018.

About Sanctions against Russia

Sanctions against Russia include over 15,000 individual and entity designations imposed by Western countries following the full-scale invasion launched in February 2022. Measures target Russia's central bank, energy sector, technology imports, financial institutions, and individuals supporting the war. The European Union, United States, United Kingdom, and allies continue to coordinate sanctions.

Read more

Most Popular

News Feed