19.10.2026 04:20
The CEO of Metinvest, one of Ukraine's largest steel companies, said that the EU's restrictions against cheap imports are also hitting his country at war. The sector forecasts that exports to the EU could fall by 50-60 percent.
According to BBC's report, Yuriy Rizhenkov, CEO of Metinvest, one of Ukraine's largest steel producers, called for Ukraine to be exempted from the new restrictions the European Union (EU) has imposed on imported steel. Rizhenkov said his country had been "placed in the same package" as measures aimed at curbing cheap imports from countries such as China.
Stating that the tariffs are "unfair" and applied "without any consideration of the situation Ukraine is in," Rizhenkov said he wants to see "at least an exception" for Ukraine in access to the EU market.
The EU limited the amount of steel that can enter the union duty-free to 18.3 million tons per year in order to protect steel producers in member states. This means a 47% decrease compared with the 2024 level. Although the regulation includes country-specific quotas, the main aim is to reduce cheap imports from countries such as China and Turkey, where member states are struggling in competition. The free trade agreement between the EU and Ukraine also does not prevent the union from taking additional trade protection measures.
Ukraine's steel sector estimates that exports to the EU could eventually fall by 50-60%. A European Commission spokesperson argued that Ukraine's "difficult situation was taken into account" when steel policy was determined. The spokesperson acknowledged that the quota allocated to Ukraine secures exports but that it is "at a lower level than in previous years," and said compensation had been offered to the largest suppliers, including Ukraine.
Steel is one of the cornerstones of Ukraine's economy. Before Russia's full-scale invasion in 2022, metallurgy and mining accounted for about 10% of the country's national income and one third of its exports. The EU is the largest customer of Ukrainian steel.
According to Rizhenkov, since 2022 all steel plants in Ukraine have been bombed at different times, and the attacks have "significantly intensified" recently. Rizhenkov said in September that for a time, for the first time in about 150 years, "not even a single ton of steel was produced" in Ukraine. About 800 Metinvest employees have lost their lives since the beginning of the war.
Saying that he expects the coming winter to be "one of the hardest in our history," Rizhenkov said, "With no logistics to reach any market outside the EU, shrinking our market by 60% does not help the sector survive."
Source: BBC