Russian Strikes Disrupt Ukraine’s Economy and Shut Down Major Steel Plant
Russian attacks on industrial and energy facilities, transport networks and export routes are putting growing pressure on Ukraine’s economy. A major steel plant in Kamianske has closed after being hit by five ballistic missiles on September 5, while farmers face difficulties moving grain safely to market. The shutdown has affected steel production and businesses linked to construction, mining, engineering, energy and logistics. Ukraine’s central bank now forecasts a 0.4% economic contraction in 2026, reversing its earlier growth outlook, and has raised its inflation forecast to 12.5%. Ukraine is also facing a deepening budget squeeze as it spends heavily on defence and remains uncertain about future US support. An Associated Press report details the economic impact of the attacks.
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