KYIV, April 12 – Ukraine may lose EUR 700 million due to restrictions on the supply of Ukrainian metal products as part of the introduction by the European Union of carbon border adjustment mechanism (CBAM), a study by GMK, a mining and steel analytics agency.

"The metallurgical industry of Ukraine will be one of the most affected as a result of the introduction of CBAM,” Stanislav Zinchenko, Director of GMK, said. “This will happen due to our close partnership with the EU. After all, domestic metallurgists supply 26% of marketable products to the European market, which is more than to our domestic market. Our competitors do not have such a high dependence on the EU market.”