‘If nothing is done, it’s almost inevitable’: Ukraine’s Yuriy Ryzhenkov on why steelmaking is on the brink of collapse as Russian bombing intensifies

(Credit: Courtesy of Metinvest)

Yuriy Ryzhenkov is that rare individual—a chief executive who has led his firm of 33,700 people during a never-ending war. He is the CEO of the largest steelmaker in Ukraine, Metinvest. More than 8,000 of his employees are fighting Russian forces. Factories are under constant bombardment. Hundreds of Metinvest colleagues have been killed.

Amid the flames and destruction, Ryzhenkov says that this period of the war is as tough as anything the company has seen since Russia’s full-scale invasion of Ukraine more than four years ago.