Economy And War News

Russian missile campaign effectively halts Ukraine's steel industry, threatening economic collapse

Russian missile strikes have effectively shut down Ukraine's steel sector, with major plants in Zaporizhzhia and Kryvyi Rih ceasing operations. The industry, which previously contributed 10-15% of GDP, now faces near-zero output, threatening jobs, tax revenue, and defense capabilities. ArcelorMittal has written off $1 billion in assets, while Metinvest reports 17 missiles hit its Zaporizhstal facility, killing eight workers. Experts warn of a humanitarian crisis as cities lose 30-70% of their budget funding.