KYIV — Yuriy Ryzhenkov, chief executive of Metinvest, one of Ukraine's largest steel companies, has appealed to the European Union to remove import restrictions on Ukrainian steel products, arguing the recently imposed tariffs fail to account for his nation's war with Russia.
The European Union recently implemented new steel import restrictions capping tax-free imports at 18.3 million tonnes annually, a 47 percent reduction from 2024 levels. The policy targets cheap imports from countries like China and Turkey that EU manufacturers struggle to compete against.
Ryzhenkov said Ukraine has been "bundled together" into these measures. He emphasized that access to the European market is "crucial for survival" for the Ukrainian steel industry.
Ukraine's steel industry anticipates that exports to the European Union could decline by 50 to 60 percent due to the restrictions. "It's unfair that Ukraine has been treated in the same way as all of the other importers into the European Union," Ryzhenkov said.
A European Commission spokesperson said the EU "took into account the difficult situation of Ukraine" when formulating its steel policy. The Commission stated that Ukraine's steel quota "guaranteed exports" of the metal, though at a level lower than previous years, and that the EU offered compensations to major suppliers including Ukraine.
Steel products are foundational to Ukraine's economy. Before Russia's full-scale invasion in 2022, the metallurgy and mining sectors contributed approximately 10 percent to the nation's income and accounted for one-third of total exports. The European Union remains Ukraine's primary customer for these products.
All of Ukraine's steel mills have been targeted by Russian bombardment since the conflict began in 2022, with strikes intensifying in recent weeks. In September, Ukraine experienced a period where no steel was produced for the first time in approximately 150 years.
Metinvest has sustained heavy losses. Almost 800 company workers have been killed since the war began. Ryzhenkov said the company has enhanced covered areas within its mills to provide employee shelter.
Despite a free-trade agreement between the EU and Ukraine, the agreement does not prevent the European Union from introducing separate trade protection measures. Ryzhenkov is seeking at least a "carve out for Ukraine" to maintain market access.
