EU proposal to transfer Russian assets protects Euroclear from Moscow suits
Transferring frozen Russian state assets into a dedicated European Union vehicle can shield Euroclear from Russian lawsuits, political commentator Hugo Dixon proposed on Sept. 29.
The European Business Association (EBA) has advised Ukraine to maintain its zero quota on ferrous scrap exports in 2027, or alternatively, impose a EUR 180 per tonne export duty. The association emphasized the importance of scrap exports in creating value, generating jobs, and supporting tax revenue, as well as providing raw materials for steel and finished metal products.
Scrap metal processing in Ukraine also contributes to energy savings and reduced CO₂ emissions, which is particularly significant given the EU's implementation of the Carbon Border Adjustment Mechanism (CBAM).
EBA member companies have called on the Cabinet of Ministers and the Economy Ministry to review the restrictions on scrap exports. After most Ukrainian steelworks were forced to halt operations due to Russian attacks, scrap collection companies urged the government to reassess the current bans. Earlier this year, the Cabinet of Ministers had set a zero quota on scrap exports starting January 1, 2026, to ensure Ukrainian enterprises have access to this vital raw material.
Despite the restrictions, ferrous scrap exports from Ukraine increased by 53% in 2025, reaching 448,680 tonnes. EBA's assertion is that relaxing these restrictions could result in higher exports and a shortage of raw materials for Ukrainian producers. Ukraine's steel production decreased from 7.41 million tonnes in 2025 to 4.3 million tonnes in the first eight months of 2026, while scrap supplies to steelworks dropped from 1.56 million tonnes to 925,400 tonnes.
Ukrainian enterprises exported 13,860 tonnes of ferrous scrap in the first eight months of 2026, a 95.1% decrease from the previous year's 283,060 tonnes, valued at $3.93 million.
Written by urgent.news from Interfax-Ukraine's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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