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Novolipetsk Steel PJSC plant, operated by NLMK Group, in Lipetsk, Russia, on June 18, 2018.
Business

Belgium has a Russian steel addiction — and doesn't want to fix it

by Chris Powers

More than four years after the EU began sanctioning Russian steel, Belgium remains a loyal importer — thanks to a sanctions exemption that allows a Russia-based steel giant to continue supplying its Belgian factories with low-cost slabs. Despite sweeping EU sanctions against the Kremlin for its war in Ukraine, Belgium has opposed attempts to sanction the company, NLMK, and its Kremlin-connected billionaire owner, Vladimir Lisin. Belgian officials fear that taking action could hurt employment in

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Here's what Candace Owens gets wrong on Russia

Candace Owens billed her trip to Russia last week as a family vacation. It turned into something far more useful for the Kremlin. The U.S. far-right conspiracy theorist — boasting 35 million followers across all social media platforms — ended up appearing at Russia's flagship economic forum, talking to Russian propaganda outlets, and praising the country's "traditional values" while dismissing Western coverage of it as lies. Her visit also exposed a fresh fault line within the MAGA movement, d

Why Armenians stuck with Pashinyan

YEREVAN, Armenia — The best of a bad lot was how many Armenians described victorious Prime Minister Nikol Pashinyan ahead of Sunday's pivotal election — the first since the bitter defeat in the Nagorno-Karabakh conflict with neighboring Azerbaijan. While the election has frequently been framed outside Armenia as a choice between pro-Russian or pro-Western forces, few locals on the streets of Yerevan saw it in such stark terms. With a population of just over 3 million, Armenia is heavily econom

Armenian Prime Minister Nikol Pashinyan addresses supporters at Republic Square in Yerevan, Armenia, on June 5, 2026.

Ukraine war latest: Kyiv recaptures more territory than it loses in May, Syrskyi says

Key developments on June 8: * Russia rejects Ukrainian, European peace initiatives, says battlefield will decide war * NATO jets shoot down drone over Latvia in 1st such interception, military says * Ukraine strikes Russian oil depot, radar station, other military targets, General Staff confirms * Ukraine foils Russian plot to assassinate senior military intelligence official, police say * At least 8 killed, 52 injured in Russian attacks across Ukraine over past day Ukrainian forces recap

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The Kyiv Independent’s Business Desk covers the biggest news in business, economics, and tech from Ukraine, as well as global developments that shape the economy of the region.

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