Steelmaker ArcelorMittal said it was shutting production at Ukraine’s largest steel plant, underscoring the growing economic toll of Russia’s airstrikes that on Friday killed five people in Kyiv, including a 14-year-old boy.
ArcelorMittal said on Friday it had informed the Ukrainian government that “safe and sustainable” operations were not possible after four strikes in five weeks caused extensive damage and killed five workers at the southeastern plant.
The shutdown is another blow to Ukraine’s once-mighty steel sector, which previously accounted for 15 per cent of the country’s exports but has come under pressure from Russian attacks and restrictions from the EU, its top trading partner.
Russia has intensified air strikes across Ukraine in recent months using ballistic missiles and jet-powered drones that have hit businesses, logistics networks, Black Sea port facilities and civilian infrastructure.
The economic impact of the attacks is cutting tax revenue and leaving the government with a widening budget gap as it seeks to finance the war, officials have said.
