Metinvest CEO Yuriy Ryzhenkov claims new EU steel quotas unfairly hurt Ukraine's war-torn economy. He is calling for an exemption to ensure survival.
Yuriy Ryzhenkov leads Metinvest, a major Ukrainian steel company. He recently urged the European Union to remove new import restrictions on Ukrainian products. He feels Ukraine faces unfair treatment compared to other nations.
Also, the European Union recently set strict limits on steel imports. These rules aim to protect member nations from cheap steel coming from China and Turkey. Officials capped tax-free steel imports at 18.3 million tonnes annually.
Next, Ryzhenkov argues that this policy ignores Ukraine's current war with Russia. He believes the EU should grant Ukraine a special exemption. He claims these measures hurt the survival of his industry.
However, an EU spokesperson stated they considered Ukraine's difficult situation. They noted that the current quota still guarantees some exports. Even so, the spokesperson admitted these levels remain lower than previous years.
Meanwhile, the Ukrainian steel industry expects a massive drop in exports. Experts estimate a decline of 50% to 60%. Ryzhenkov insists that the European market is vital for his country's survival.
Additionally, steel remains a cornerstone of the Ukrainian economy. Before the 2022 invasion, mining and metallurgy provided 10% of national income. The EU currently serves as the largest buyer of Ukrainian steel.
As a result, the industry struggles under constant Russian attacks. All Ukrainian steel mills have faced bombing since the war started. Ryzhenkov reported that these air strikes have intensified significantly in recent months.
Later, the company focused on protecting its staff from danger. They improved shelter areas near the mills for workers. Ryzhenkov admitted that protecting entire factory structures from damage remains impossible.