Turkey to Limit Purchases of Russian Steel

Turkey has decided to restrict the purchases of Russian steel. This is reported by The Economist.

Turkey announced the imposition of tariffs on steel products of Russian origin, which the country previously acquired for $3.1 billion. According to the publication, these supplies will now incur an additional charge of 6 to 9 percent.

The new measures have been set for a period of 5 years and are linked to issues of "unfair competition" and dumping by foreign suppliers that harm domestic production. Similar tariffs are also being imposed by Ankara on steel from Indian and Japanese manufacturers.