Ukraine's Steel Industry Is Nearing Collapse — and Calling for Help From Abroad
The company said four strikes in five weeks killed five workers and injured 17 employees, forcing a $1 billion impairment charge.
- On Friday, Steelmaker ArcelorMittal announced it will indefinitely suspend operations at ArcelorMittal Kryvyi Rih, citing safety concerns after four missile strikes in five weeks killed five workers at Ukraine's largest steel plant.
- Intensified Russian bombardments have crippled major industrial sites across Ukraine. The Kryvyi Rih plant sustained four strikes over five weeks, injuring 17 employees, while Friday's airstrikes in Kyiv killed five people, including a 14-year-old boy.
- The shutdown forces about $1 billion in non-cash impairment charges. Since Russia's February 2022 invasion, ArcelorMittal provided over $700 million to maintain operations at the plant, which previously accounted for 15% of Ukraine's exports.
- Ukraine has called for Europe to sanction Russian steel and nickel tycoons Vladimir Lisin and Vladimir Potanin. Sanctions advisor Vladyslav Vlasiuk stated that listing these oligarchs is essential to restricting Russia's war economy.
- President Volodymyr Zelenskyy described a Friday drone strike on a Kyiv high-rise as an "absolutely savage and sickening" attack. Russia has intensified air strikes using ballistic missiles and drones, disrupting vital supply chains across the country.
47 Articles
47 Articles
The largest steel factory in Ukraine, located in the home town of Ukrainian President Volodymyr Zelensky, was targeted on 21 September. ...
The steel group ArcelorMittal announces that it cannot resume its activity in safety and durability at ArcelorMittal Krivoi Rog, Ukraine, following numerous Russian rocket attacks of the last period. The combination continued until...
Ukraine's steel industry is nearing collapse — and calling for help from abroad
Ukraine’s largest steel company, ArcelorMittal Kryvyi Rih, said on Sept. 25 that it cannot restart steel production amid a surge in Russian strikes on factories, as the embattled sector calls for more domestic and international support to prevent its total collapse. Since the summer, Moscow has launched a widespread campaign of attacks on Ukraine’s economy to shut down key industrial centers. The metallurgy sector, which contributed 7% of Ukrain…
The steel group ArcelorMittal decided to stop the activity at the Krivoi Rog combination in Ukraine, the largest steel plant in the country, after the missile attacks that hit the industrial complex on 21 September.
Russian strikes shut Ukraine steelmaker, kill 5
KYIV — Steelmaker ArcelorMittal said it was shutting production at Ukraine's largest steel plant, underscoring the growing economic toll of Russia's airstrikes that on Friday killed five people in Kyiv, including a 14-year-old boy.
The steel group of ArcelorMittal announced Friday that it stopped its activity at its steel complex Krivoi Rog in Ukraine, which until now continued to function despite the war triggered by Russia. The combination of Krivoi Rog, the largest steel plant in Ukraine, located near the home town of President Volodimir Zelenski, was targeted ...
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