EU quota system ‘could kill Ukrainian steel industry’, boss says
Key takeaways
- An employee works at Zaporizhstal iron and steel works in Ukraine, partly owned by Metinvest.
- Yuriy Ryzhenkov, the chief executive of Metinvest, said the new EU quota system due on 1 July could “kill the Ukrainian steel industry”.
- The EU has introduced the protectionist measures in the face of a long-running global glut of steel caused by China.
Why this matters: a developing story that could shape the day's news cycle.
An employee works at Zaporizhstal iron and steel works in Ukraine, partly owned by Metinvest. Photograph: Reuters View image in fullscreen. An employee works at Zaporizhstal iron and steel works in Ukraine, partly owned by Metinvest. Photograph: Reuters Steel industry EU quota system ‘could kill Ukrainian steel industry’, boss says Protectionist measures will deal blow to country’s budget as it defends itself against Russia, says Metinvest chief
Prefer the Guardian on Google New EU limits on steel imports could destroy Ukraine’s industry and deal a big blow to the country’s budget as it defends itself against Russia, according to the head of its biggest steelmaker.
Yuriy Ryzhenkov, the chief executive of Metinvest, said the new EU quota system due on 1 July could “kill the Ukrainian steel industry”.