The U.S. suspends 232 duties on Ukrainian steel for one year

The United States will temporarily suspend the collection of 232 duties on #Ukrainian #steel for one year.

📌 According to the State Statistics Service, in 2021, the export of #ferrous #metals from Ukraine to the United States increased by 50.5% compared to the previous year, to $70.76 million, and ferrous metal products – 11 times, to $16.85 million. In total, these two accounted for 55.4% of all exports from Ukraine.

➖ Now, some of the producers started resuming their operations but with a limited capacity. Moreover, nearly 1/3 of Ukrainian steel capacities are located in Mariupol – Azovstal and Ilyich Iron and Steel Works. And now #Mariupol is one of the hottest points of the war.

➖ Following the #sanctions, U.S. exports to russia of categories of goods subject to new U.S. export licensing requirements decreased by 97% in value terms compared to the same period in 2021 (February 24-April 29), and total exports fell by about 79%.

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