Among the main factors, in particular penalties, the loss of foreign markets, a sharp collapse in domestic demand for metal in construction and engineering, as well as the hard policy of the central bank of the Russian Federation.
Russian Metallurgy has been experiencing the deepest crisis since the beginning of Russia’s entire -scale invasion of Ukraine. In particular, in July, production fell 10.2% compared to the same period last year. This was reported by the center for the fight against disinformation.
According to Rosstat, this is the worst indicator of at least 3.5 years.
The collapse is recorded in the main business of the industry.
Magnitogorsk Metallurgical Plant Reduced the manufacture of iron by 18%, Sword reduced sales by 11%, Pipe Metallurgical Company Lost in 22% of sales.
In general, Russian businesses report billions -billions of losses.
“The reasons for autumn are obvious: penalties, loss of foreign markets, a sharp collapse in domestic demand for metal in construction and engineering, as well as the hard policy of the central bank of the Russian Federation, which prevents investments,” explained the CPD.
Remember that the largest steel company in Russia reports a rapid collapse of income. The factors are called the growth of credit rates, the reduction of domestic demand and penalties that limit access to foreign markets.
We added that a review of the foreign economic state of the Russian Federation, published by Ukraine’s Foreign Intelligence Service, indicated that Russia could lose a financial pillow in 2026 due to rapid reduction in oil revenues.
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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.