--- title: "Metinvest Faces Unprecedented Challenges Due to Ongoing Conflict with Russia" url: https://newscentral.site/metinvest-faces-unprecedented-challenges-due-to-ongoing-conflict/ language: en publisher: "News Central Site" section: "Business" published: 2026-10-12T05:00:00.000Z updated: 2026-10-12T06:45:44.018Z id: ad7798b0-cc0c-48a4-9d84-aa53c8456cb8 source: "Fortune https://fortune.com/2026/10/12/ukraine-yuriy-ryzhenkov-metinvest-steelmaking-brink-collapse-russian-bombing-intensifies/" attribution: "Link to https://newscentral.site/metinvest-faces-unprecedented-challenges-due-to-ongoing-conflict/ and name News Central Site when you quote or summarize this story." --- # Metinvest Faces Unprecedented Challenges Due to Ongoing Conflict with Russia The company has been severely impacted by the ongoing conflict, with hundreds of employees killed and operations disrupted due to bombardment and blockade. Metinvest, Ukraine's largest steelmaker, is facing unprecedented challenges due to Russia's ongoing invasion and intense bombardment of its facilities. The company, led by CEO Yuriy Ryzhenkov, employs over 33,700 people, with more than 8,000 actively fighting Russian forces. This has put a significant strain on the workforce, as hundreds of Metinvest colleagues have been killed in the conflict so far. Ryzhenkov, who took the helm at Metinvest in 2013, acknowledges that this period of the war is one of the toughest the company has faced since Russia's full-scale invasion of Ukraine began over four years ago. The ongoing blockade of seaports has severely impacted operations and supply chains. The constant bombardment of factories has taken a significant toll on Metinvest's infrastructure, with facilities being hit repeatedly over the past four and a half years. Despite efforts to restore damaged areas, Ryzhenkov notes that the company cannot afford to return to its pre-war state due to ongoing attacks. Ryzhenkov's concerns are underscored by recent events, as August and September saw some of the most severe bombing campaigns yet, forcing Metinvest to temporarily shut down both of its steel mills. The ongoing conflict between Ukraine and Russia has already taken a toll on the country's steel industry, but another challenge is looming on the horizon. The European Union's recent decision to impose new tariffs on EU steel imports could severely limit Ukraine's ability to export its products. Ukraine's steel exports to the EU are set to decline by 1.3 million metric tons per year, a significant reduction that will have far-reaching consequences for the industry. This is due in part to a 60% cut in the key steel tariff-rate quota allocated to Ukraine from July 2026. The new tariffs are intended to protect the EU's domestic steel industry from cheaper foreign competition, but they may ultimately harm Ukrainian producers who rely on exports to the EU as their main source of revenue. With the Russian invasion having already disrupted logistics and energy supplies, this added pressure could prove disastrous for Ukraine's steel sector. Ryzhenkov's concerns are exacerbated by the fact that these quotas were imposed despite Ukraine's exceptional circumstances. The country has been struggling to maintain production levels due to a lack of resources, including energy and personnel, making it difficult to meet EU export targets. The sudden change in policy has left Ukrainian producers feeling unfairly treated, with many wondering if their efforts to adapt to the new circumstances have been taken into account by EU authorities. The EU's decision to impose tariffs on Ukrainian steel has been met with criticism from industry insiders who argue that it is too harsh given the current circumstances. Negotiations between the EU and Ukraine are ongoing, but the pincer movement of Russian aggression and Western trade restrictions is putting immense pressure on Ukraine's steelmaking sector. The impact of these measures can be seen in the stark decline in steel production over the past few years, with output plummeting from 21 million metric tons to just 7.4 million metric tons between 2021 and 2025. Ukraine's unique situation is not being taken into account by EU authorities, leaving steel producers feeling vulnerable and uncertain about their future. The constant attacks on Ukrainian factories, energy supply systems, and railways are further exacerbating the crisis, making it increasingly difficult for companies to operate. The industry's reliance on a stable market to remain viable is clear, with steelmaking typically requiring high capacity utilization rates of over 90% to be profitable even in normal times. However, the current disruptions have made this impossible, forcing producers to seek long-term commitments from their customers that are now unavailable due to the ongoing crisis. The consequences of inaction are stark, with industry insiders warning that if nothing is done, the collapse of Ukraine's steelmaking sector becomes almost inevitable. Without access to the European market and significant investments, companies will eventually be forced to shut down operations, spelling disaster for an already struggling industry. Ukraine's steel industry is on the verge of collapse due to the ongoing conflict with Russia. This dire situation has been highlighted by Yuriy Ryzhenkov, a prominent figure in the sector who comes from a long line of steelmakers. Ryzhenkov's family history is deeply intertwined with the industry, with his grandmother having worked as a chemical engineer at a coal plant and his mother, father, and uncle all employed in steelmaking. This personal connection has instilled in him a strong determination to continue operating despite the significant losses and ongoing threats of attacks. The fate of Ukraine's steel industry hangs precariously in the balance, with thousands of employees and their families relying on its continued operation. Ryzhenkov's decision to keep going is motivated by his responsibility to the company's workforce, including 8,500 employees who serve in the Ukrainian armed forces, which also relies on the steel industry for support. --- Source: [Fortune](https://fortune.com/2026/10/12/ukraine-yuriy-ryzhenkov-metinvest-steelmaking-brink-collapse-russian-bombing-intensifies/) Published by News Central Site: https://newscentral.site/metinvest-faces-unprecedented-challenges-due-to-ongoing-conflict/