Industrialised countries face legally binding decarbonisation commitments, but carbon pricing and capital subsidies have not overcome structural cost disadvantages for steel decarbonisation. Developing countries need decades of primary steel production for development, but cannot afford the green premium and cannot take the conventional carbon-intensive path. Hydrogen-based direct reduced iron technology changes what is possible: green iron production can now locate where costs are lowest. Some developing country locations offer substantial cost advantages. This article proposes a production chain configuration where industrialised country subsidies flow through contract structures to enable developing country production. EU steelmakers gain lower-cost inputs and enhanced competitiveness. EU public funders achieve decarbonisation at lower cost while building a competitive green steel industry. Developing country producers gain bankable offtake enabling investment otherwise inaccessible, with export partnerships providing the foundation for domestic green steel sectors. The configuration works within existing policy frameworks, requiring adjustment rather than new mechanisms. Implementation can proceed through first-mover partnerships rather than awaiting comprehensive international coordination.