Russia held talks with Voestalpine on the supply of steel for the gas pipeline

Austrian steel and technology group Voestalpine says it is in talks with Moscow to supply steel for the previously planned South Stream gas pipeline. The talks were successful despite escalating tensions between Russia and the West over Russia's annexation of the Crimean peninsula earlier this year.

This has caused the biggest crisis between Russia and the West since the Cold War, and politicians are focused on reducing the European Union's dependence on Russian gas. In Brussels, there are fears that the 2,400 kilometer pipeline, which will reach Bulgaria and other EU members, will further strengthen Russia's dominance, and regulators have been forced to suspend the process.

However, Wolfgang Eder, CEO of Voestalpine, on the sidelines of the European Steel Day conference in Brussels, said that "the political situation has not influenced the negotiations on the provision of steel. We are securing supplies for the first line and will start the summer discussions without changing the time frame." ...

Western politicians have so far refrained from sanctions against Russia targeting large state-owned enterprises. But the West is constantly reminded of increased sanctions, which could affect key sectors such as energy and banking if Russia aggravates the crisis in Ukraine.

However, Wolfgang Eder, CEO of Voestalpine, at a meeting of the steel industry in Brussels, said that the new attempt to extract shale gas in Europe is considered abstract, and the plans for production in Lower Austria have already been rejected.