Report
Russian strikes squeeze Ukraine's economy as major steel plant closes and grain exports stall
Ukraine's central bank forecasts a 0.4% contraction in 2026, reversing its previous projection of 1.8% growth.
TLDR
Five ballistic missiles struck Kamet Steel in September, closing a plant that produced more than a quarter of Ukraine's steel in 2025. Attacks on Black Sea shipping have pushed grain exporters toward costlier routes. Ship arrivals at Ukraine's Black Sea ports fell about 90% year over year in August, according to Lloyd's List Intelligence. Lost revenue from steel and agriculture is deepening the government's cash crunch.
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