Germany Proposes Complete Ban on Russian Steel Imports Ahead of Industry Summit

German Vice Chancellor and Finance Minister Lars Klingbeil has called for a complete ban on all steel imports from Russia, criticizing the current exemption of Russian steel slabs processed within the EU from sanctions as unfair to workers in Germany's steel industry. He emphasized the need for increased domestic production focused on climate-friendly, high-quality steel from Germany and Europe, especially prioritizing sectors like infrastructure and automotive. The call for a ban and industry support comes ahead of a "Steel Summit" convened by Chancellor Friedrich Merz, which will include key ministers and regional leaders from steel-producing areas to discuss boosting Germany's steel sector, addressing trade relations, energy prices, and resilience. Labor Minister Bärbel Bas pledged government backing and investments to support the steel industry, expecting companies to invest locally and commit to their workforce. These measures respond to challenges including global overcapacity, dumping prices, energy costs, and competitive pressures from the US, China, and declining demand. The summit aims to strengthen Germany's steel industry while increasing economic pressure on Russia amid ongoing sanctions and geopolitical tensions.