Five containers bound for Russia from Jindal Stainless Ltd (JSL) JIST.NS (India) has been unexpectedly stuck at the Belgian port of Antwerp for about a year, unable to enter the EU.
These containers are loaded with about 100 metric tons of stainless steel, a firm spokesperson mentioned.
These containers were sent out in February last year for shipments through Antwerp but were held up owing to the EU’s sanctions imposed on Russia following its invasion of Ukraine in the same month.
JSL’s spokesperson mentioned that the steel was not among the goods on the sanctions list of the EU and must be cleared for onward transport.
JSL expects the exports to hit a five-year high in the coming fiscal year, buoyed by enhanced shipments to Russia and planned entries into the markets of South America and the Middle East, JSL’s MD informed Reuters last month.
Reference: The Print, The Times of India
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