International cooperation is essential for strengthening sanctions against Russia and Ukraine preparation for CBAM, says Vladimir Zhukov.
Restricting steps, problems involving financing and protection duties such as the European Carbon Tax Cbam are the factors that prevent the Ukraine industry, which suffered from military aggression in Russia. This is said by team marketing director Metinvest Vladimir Zhukov during the Ukrainian-Japanese Forum to promote the restoration of the Ukrainian economy, which took place on August 4 in Tokyo, the press service of holding on August 11 reports.
So, apart from calls for such a metinvest export company, Zhukov has primarily identified the many restrictions that are introduced into the world, especially in Europe, to support local manufacturers.
“The CBAM, which enters strength on January 1, 2026, is introduced. We must be prepared to avoid its negative consequences. In this context, international cooperation and the participation of the global community working on this issue is very important,” he said.
According to Zhukov, to get Ukraine the maximum amount from mineral reserves by manufacture of high -value products added, international cooperation in the field of investment and financing, as well as support to stop aggression is required.
“Although economic penalties are acting against Russia, unfortunately, there are exceptions that allow steel to sell iron to the European Union. The income from it enters the budget of aggressive and financial war. It is here that the international community should play a key role,” he said.
Zhukov also shared the company’s experience of funding funding during the war. Determining the factor here is the cost of financing, which remains high due to the country’s risk and, accordingly, increased interest rates. International cooperation helps to find solutions and tools to ensure more affordable credit rates.
“This year, we attracted financing for one of the projects we implemented along with the Finnish equipment supplier. The funds were received through the Finnish export agency.
In this regard, the Minister of Economics, the environment and agriculture of Ukraine Alexei Sobolev noted that one of the tools for reducing the country’s risk is insurance in military threats. Parliament has already registered a bill that provides for the creation of an agency that will pay for the costs of such insurance through global reinsurers for companies operating in Ukraine.
Remember, according to Ukraine’s Federation of Employers’ Federation of Employers, in the case of CBAM introduction in 2026, Ukraine could lose 4.6% of GDP. Also, Ukraine expects lowering tax revenues and social contributions to budgets and funds of all levels due to a reduction in business activity – it can reach $ 2.8 billion in 2026 and up to $ 3.6 billion in 2034
In this regard, representatives of the Ukrainian business called the authorities to organize in Europe regarding carbon tax.
News from CORRESPONDENT.NET On the telegram and whatsapp. Subscribe to our channels https://t.me/KorresPondentNet and WhatsApp
Source: korrespondent
I’m Liza Grey, an experienced news writer and author at the Buna Times. I specialize in writing about economic issues, with a focus on uncovering stories that have a positive impact on society. With over seven years of experience in the news industry, I am highly knowledgeable about current events and the ways in which they affect our daily lives.