Russian Strikes Choke Ukraine’s Economy as Steel Shuts Down and Grain Exports Stall
Missile strikes and port bottlenecks have cut steel output and pushed grain into storage, deepening Ukraine’s cash crunch as export costs climb.
- Missile strikes have halted steel production across Metinvest Group, including the Kamet Steel complex in Kamianske, which closed following a Sept. 5 attack. Steel once accounted for about 6% of Ukraine's GDP.
- Russia's intensified air campaign targets energy plants and logistics networks with near-daily strikes using ballistic missiles and jet-powered drones. These attacks disrupt production and drive up transport costs across the nation.
- Agriculture accounts for up to 60% of foreign currency earnings, yet Black Sea port arrivals are down about 90% from a year earlier. Corn prices fell from $210 to $230 per ton last year to around $130, squeezing farmers.
- Falling tax revenues have left Ukraine's treasury struggling to cover planned spending despite international funding commitments. The nation faces a funding gap of just under $25 billion for 2026, forcing postponement of construction and winter projects.
- President Donald Trump's administration has temporarily paused some aid deliveries, adding to uncertainty over future U.S. support. Europe remains the largest source, providing 137 billion euros in aid since the war began.
19 Articles
19 Articles
Russian strikes choke Ukraine’s economy as steel shuts down and grain exports stall – WTOP News
KAMIANSKE, Ukraine (AP) — The furnaces are cold, the factory floor deserted, and twisted metal litters the grounds of Kamet Steel, a vast industrial complex that once helped power Ukraine’s economy but closed after a Russian attack. Across the country, grain — a key export — piles up in fields and silos as farmers struggle...
In the Kryvy Rih mining basin, concern is palpable. While the metallurgical complex of ArcelorMittal, which employs 16,000 people, could close after the Russian strikes of September, the blocking of exports to the Black Sea and the bombing of the logistics routes accelerate the decline of an economic sector that once made the country proud.
Ukrainian farmers facing food export crisis as Russian air strikes hamstring ports
Ukraine’s farmers should be celebrating their biggest harvest in years, but instead many face financial peril as Russian air strikes cripple their country’s main ports, paralyse food exports and turn the Black Sea into the world’s deadliest waterway.
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