Steel Production: News

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Explainer: How Ukraine’s biggest corruption scheme persisted despite all odds

Ukraine's largest corruption scandal in years came to light last year with a wave of arrests, sanctions, and a political shakeup. New revelations over the past few weeks suggest that produced little result. Last November, Ukraine’s anti-corruption authorities' Operation Midas uncovered a $100 million money-laundering and bribery scheme that implicated high-ranking officials and associates close to President Volodymyr Zelensky, largely through state-owned energy company Energoatom. At the cente

About Steel production

Ukraine was the world's 13th-largest steel producer before Russia's full-scale invasion, with an annual output of approximately 21 million tons. The sector previously employed 280,000 workers and generated 12% of Ukraine's GDP. Russian attacks on metallurgical facilities have reduced steel production by over 70% since February 2022. Major plants, such as Azovstal in Mariupol, remain under Russian occupation. Others have ceased operations due to energy shortages and damaged infrastructure.

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