Photo: riac34.ru
Amid the crisis, Russia has started talking about the possibility of shutting down a number of steelmaking companies due to a sharp drop in domestic demand and the loss of foreign markets.
The Centre for Countering Disinformation at the National Security and Defence Council of Ukraine reported this in a Telegram message.
“There is talk in Russia about the possibility of a number of steelmakers shutting down. Such forecasts are being made against the backdrop of a significant reduction in steel production due to extremely low domestic demand, the loss of many foreign markets due to sanctions and unfavourable conditions in the remaining foreign markets,” the statement said.
According to the CPD, steel production in Russia has been declining since last year, which creates the risk of a complete shutdown, mass layoffs and closure of enterprises.
The crisis in the industry is being exacerbated by problems in other sectors, particularly in construction, which is having a negative impact on domestic demand for metal.
The Centre also emphasised that the detrimental effects of the war against Ukraine and international sanctions are becoming increasingly noticeable to Russians – despite the Kremlin’s attempts to create the illusion of stability.
