July 18, 2018 / 2:25 PM / 5 months ago

Russia's Severstal does not expect major impact from EU's steel curbs

FILE PHOTO: The logo of Russian steel producer Severstal is seen on a board at the St. Petersburg International Economic Forum 2017 (SPIEF 2017) in St. Petersburg, Russia, June 1, 2017. Picture taken June 1, 2017. REUTERS/Sergei Karpukhin

MOSCOW (Reuters) - Russian steel producer Severstal does not expect the European Union’s curbs on steel imports to have a substantial impact on its financial performance as its distribution mechanism is flexible, the company said on Wednesday.

Severstal plans to continue supplying steel to European consumers as part of announced quotas, it added.

The European Commission has proposed a combination of a quota and a tariff to counter EU concerns that steel products no longer imported into the United States would instead flood European markets.

Reporting by Polina Devitt; Editing by Catherine Evans

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