The EU has reinstated sanctions on Iran, directly targeting the steel and metals trade amongst others, Kallanish notes.
The measures ban the sale, supply, transfer or export of graphite and raw or semi-finished metals – including aluminium and steel – to Iranian entities or for use in Iran. Imports of these materials from Iran are also prohibited, according to the Official Journal of the European Union.
Contracts involving steel and related metals signed before Tuesday may still be executed, but only until 1 January 2026.
For the steel industry, the measures effectively end formal EU-Iran trade in semi-finished steel and related inputs.
The scope extends beyond physical trade, covering financing, brokering, insurance and technical assistance linked to steel and other restricted metals.
The European Council notes that steel and other metals can contribute to Iran’s nuclear, ballistic missile and military programmes, or support industries controlled by the Islamic Revolutionary Guard Corps.
July’s EU billet imports from Iran totalled 22,602 tonnes versus zero last year.
Elina Virchenko UAE
