Operators and importers in the iron and steel sector will need to be even more attentive to compliance, as the recent regulatory changes have made the rules stricter than ever.
Further to the prohibitions imposed by the EU Regulation 388/2014, new prohibitions came into force starting from last 30 September for iron and steel sectors, where the processing of certain iron and steel products has more relevance than ever. How do the new rules work?
Are similar sanctions adopted by the UK ?
In this scenario, we also find the entry into force of the Carbon Border Adjustment Mechanism (“CBAM”), which has been recently published in the Official Journal of the European Union: what is it and which are its main impacts?
It has become very important to take all necessary measures to ensure compliance and avoid the consequences under the sanctions packages as well as penalties for failure to comply with the CBAM requirements.
Finally, on 3 October 2023 the Transitional CBAM Registry has been issued and is available at this link.