EU Paid Russia €682 Million for Steel in Eight Months as Slab Exemption Keeps Money Flowing
Despite bans, the EU paid Russia €682 million for steel in eight months. An exemption allows steel slabs to reach Belgium and Italy until 2028, according to an Euromaidan Press analysis.
The European Union paid Russia €682 million for steel over eight months, according to an analysis published on 19 October 2026 by Euromaidan Press, a Ukrainian outlet. The figure matters because the EU has imposed bans on Russian metal imports, yet money is still flowing to Russia.
The slab exemption
The bans have cut most Russian metal from entering the EU. However, an exemption allows slabs, a semi-finished steel product used for further manufacturing, to keep reaching Belgium and Italy until 2028. The analysis describes this exemption as a loophole that keeps payments going to Russia.
Large consumers push to keep it
The analysis also points out that big steel consumers are lobbying to keep the exemption open. The available text does not specify which companies are doing so, what arguments they use, which eight months the calculation covers or what share of the total slabs account for.
The situation shows a tension between the aim of EU sanctions, which is to reduce Russian revenue, and the interests of some industrial users who want to keep access to this material.
