Postponement of CBAM will allow for eco-modernization of enterprises after the war – Metinvest

The postponement of the Carbon Border Adjustment Mechanism (CBAM), which will come into force in January 2026, will enable the eco-modernization of enterprises after the war. This was stated by Olexander Myronenko, Chief Operating Officer (COO) of Metinvest Group, at the Forbes Ukraine Industrialists Forum.

According to him, steelmakers are currently working with the government to postpone the mechanism for the country.

«This would make it possible to resume production after the war, make the necessary investments, modernize enterprises, and meet EU environmental standards and requirements for green steel production. This is the main problem for the industry, and we hope that through joint efforts we will be able to achieve a postponement,» said Olexander Myronenko.

Otherwise, CBAM will create the conditions for the introduction of additional duties on the products of Ukrainian steel producers, making them less competitive.

Recall that Metinvest Group’s marketing director, Vladimir Zhukov, believes that international cooperation is crucial for strengthening sanctions against Russia and preparing Ukraine for CBAM. Ukraine must be ready to avoid its negative consequences.

According to GMK Center’s revised estimates, Ukraine exported $24.8 billion worth of goods to the EU in 2024, of which 14.5% is subject to CBAM. This primarily concerns iron, steel, electricity, aluminum, cement, and fertilizers. Analysts predict that, given the current structure, the potential losses of Ukrainian exports for 2026-2030 due to the introduction of the mechanism will amount to $4.7 billion, with investment losses for the same period amounting to $2.7 billion.