ArcelorMittal

The largest metallurgical plant, an 'ecocide' in the president's hometown

ArcelorMittal Kryvyi Rih (AMKR) is the largest mining and metallurgical plant in Ukraine, formerly known as Kryvorizhstal, purchased in 2005 for $4.8 billion. It employs over 29,000 workers and holds 20% of the country's metal products market. Since Zelensky came to power in 2019, Kryvyi Rih — the president’s hometown — has become a zone of increased law enforcement scrutiny toward AMKR. Zelensky publicly stated that in five years, cancer diseases were diagnosed in nearly 25,000 people in the city. The Security Service of Ukraine (SBU) opened a criminal case under the article "ecocide" and conducted searches, seizing equipment.

2.24 billion blocked accounts

The Office of Large Taxpayers recalculated 9 billion UAH in rental payments for AMKR for the years 2015-2019. In November 2021, company CFO Serhiy Plichko was handed suspicion notices for official forgery and tax evasion. In January 2022, the Office of the Prosecutor General blocked all the company's accounts. The company appealed to the governments of the USA, Germany, and Luxembourg. The corporation’s owner, Lakshmi Mittal, met twice personally with Zelensky to resolve the conflict. The State Environmental Inspectorate fined AMKR over 10 million UAH for harmful emissions.

Fourth year of losses

At the end of 2025, AMKR recorded a net loss of 8.89 billion UAH — the fourth consecutive year. Causes: electricity prices rose from $120 to $370 per MWh at peak; the introduction of CBAM cut off the EU market. CEO Mauro Longobardo publicly warned that if the situation does not change, convincing the parent group to continue investing in Ukraine will become impossible.