Ukraine's steel sector urges EU to grant special export treatment amid new tariffs
Metinvest CEO Iurii Rîjzenkov warned that EU steel import limits could cut Ukrainian exports to the bloc by up to 60% and asked for a derogation.
Ukraine's steel producers, led by Metinvest executive Iurii Rîjzenkov, contend that the EU's new import restrictions threaten the sector's survival, forecasting a 50-60% drop in shipments to Europe. Rîjzenkov said the policy was crafted without sufficient regard for Ukraine's war-damaged industry, which has seen production fall dramatically since 2022. He urged Brussels to grant a specific exemption so Ukrainian steel can continue to reach its main market.
The EU argues the measures are necessary to shield European manufacturers from low-cost competition, offering compensation to major suppliers, including Ukraine. Industry estimates suggest the tighter quota could shave about $1.2 billion from Ukraine's foreign earnings and shave 0.6% off its GDP. Logistics challenges, higher rail freight costs and damaged ports further complicate export efforts.
Why it matters
EU steel tariffs could cripple Ukraine's key export sector and worsen its war-strained economy.
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