The EU's steel import curbs, intended to protect its own industry from cheap imports, unfairly penalise war-torn Ukraine, says Metinvest CEO Yuriy Ryzhenkov. He warns the restrictions could cut Ukrainian steel exports to the bloc by 60%.
01Summary
- 01Yuriy Ryzhenkov, chief executive of Metinvest, called EU steel tariffs 'unfair' and said Ukraine had been 'bundled together' with China and Turkey.
- 02The EU has capped tariff-free steel imports at 18.3 million tonnes a year, a 47% cut from 2024 levels.
- 03Metinvest estimates Ukrainian steel exports to the EU could fall by 50–60% as a result.
- 04Almost 800 Metinvest workers have been killed since Russia's full-scale invasion began in 2022.
- 05The EU said it 'took into account the difficult situation' of Ukraine and offered compensations to its largest suppliers.
02Why it matters
Steel is a pillar of Ukraine's economy, accounting for a third of its exports, and the EU is its main market. Further restrictions threaten the industry's survival as it already struggles with Russian bombardment and disrupted logistics.
Pulse AIAsk about this story
Answers are generated by AI from the story summary; they are not investment, health or legal advice.
