EU quotas have reduced Ukrainian steel exports by more than 60%
Metinvest Group CEO Yuriy Ryzhenkov told the Italian publication Corriere della Sera on October 13, 2026, about the consequences of Russian attacks on industry and the European Union's new trade restrictions. This is reported by the portal PromPolitInform, citing information from Metinvest, based on data from Corriere della Sera.
In a conversation with Deputy Editor-in-Chief Federico Fubini, the company’s head commented on the current state of domestic enterprises. According to him, not only Metinvest’s assets but also the production facilities of other industrial giants have come under enemy shelling.
Consequences for the economy
Before the start of the full-scale invasion and the events of 2014, the metallurgical sector accounted for about 10% of the country’s gross domestic product. The industry also provided more than 30% of total Ukrainian exports.
Despite significant destruction and the loss of production capacity, heavy industry until recently continued to serve as the foundation for the economy. The company head emphasized that the loss of these production volumes is a severe test.
EU trade barriers
Particular attention in the interview was paid to the new restrictive quotas introduced by the European Union on imports of steel products from Ukraine. According to the company’s estimates, this decision will lead to a reduction in exports to European countries by more than 60% compared to last year.
The CEO stressed the paradox of a situation where European allies restrict Ukrainian producers, while products from russia continue to enter the EU market. A complete ban on Russian metal has not yet been implemented.
Photo: Metinvest
Read also: Metinvest Group paid UAH 8.5 billion in taxes over six months
