Russian strikes have knocked out 90 percent of Ukraine's steel industry
Russian strikes have knocked out 90 percent of Ukraine's steel industry
As a result of Russian missile attacks, three of the largest steel plants in Ukraine have suspended their operations. This is putting the country's entire steel industry at risk. It is reported that in early September, Russia struck enterprises in the Zaporizhzhia and Dnipropetrovsk regions with ballistic missiles. Two of the three plants belong to the Metinvest mining and metallurgical company, while another is part of ArcelorMittal. The attacks resulted in the deaths of 17 workers.
"There is no longer a steel industry in Ukraine," said Oleksandr Vodoviz, head of the office of the CEO of Metinvest.
According to him, the Russian military knew exactly where to strike. The blast furnaces of the enterprises were targeted.
According to Metinvest and ArcelorMittal, these plants together accounted for 90 percent of the steel produced in the country. More than 15,000 people worked at the enterprises. Their shutdown could have a serious impact on other sectors of the economy and tax revenues.
"For now, we do not know how long the repairs will take — it could take days, weeks, months, or years," he added.
Since the start of the war, the Russian armed forces have been striking Ukraine's railway infrastructure, factories, warehouses, and shopping centers. In recent months, such attacks have intensified sharply.
Ukrainian Prime Minister Serhiy Koretsky said that due to the Russian attacks, Ukraine could lose approximately $1.5 billion in tax revenues.
Ukrainian President Volodymyr Zelenskyy stated that the country's military budget deficit stands at 27 billion euros. He is asking allies for additional financial assistance.