Russia to lose $3 billion due to US sanctions on metals

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Russian companies can lose up to $ 3 billion because of the introduction of US protective duties on imports of steel and aluminum, said Deputy Minister of Industry and Trade Viktor Yevtukhov.

“Regarding the losses of our enterprises, our companies, then, according to preliminary calculations, this is at least $ 2 billion for steel and $ 1 billion for aluminum,” the official said.

Such large losses are due to the fact that Russian companies have invested in rolling companies in the US, which also use Russian semi-finished products.

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Yevtukhov noted that now there is a threat of closing the markets in other countries, as well as the probability of a “chaotic redistribution of commodity flows.” He recalled that at present, with respect to Russian enterprises, “there are already a considerable number of trade barriers that impede access to markets.”

On the other hand, duties can positively affect the profits of North American sister-companies of Russian metallurgical companies, whose production value will go up.

Source Ruposters
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