The situation in Ukraine’s metallurgical sector is currently catastrophic; in particular, shelling at Metinvest Group facilities has destroyed five furnaces, and two furnaces at ArcelorMittal Kryvyi Rih (AMKR, Dnipropetrovsk Oblast)—the plants are not operating, said the head of the office of Metinvest Group CEO
Oleksandr Vodovyz, at the Economic Resilience Forum organized by Forbes Ukraine in Kyiv on Wednesday.
“Absolutely all the plants have been destroyed. These include Arcelor, Metinvest, the Petrovsky Plant (Yaroslavsky DMZ), and Interpipe. They were hit several times. Many people were killed. We are not operating. I know that Arcelor is not operating. As far as I know, the Petrovsky Plant has also been shut down. And Interpipe, as far as I know, hasn’t repaired its transformer either,” said Vodoviz.
According to him, there was a week in September when Ukraine did not produce a single metric ton of steel for the first time in 100 years, and Metinvest’s facilities remain shut down.
“We’re at a standstill, assessing (the possibilities for resuming operations). We tried to restart production at Zaporizhstal: we fired up the furnace, it ran for 10 hours, and then—a second failure. Just so you understand, starting up the furnace costs $50 million, and the furnace itself costs $0.5 billion. Repairing it in any way would require enormous funds,” the top manager explained.
He added that the company had reached out to various ministries for help in this situation, but the assistance offered amounted to only 2–5 million hryvnias.
Vodoviz, while agreeing with the need to support small businesses, also emphasized that large businesses are the foundation upon which small businesses operate.
“They supply us with water, cables, and perform various services. We have 50,000 contractors. Unfortunately, there is currently no solution for large businesses. One respected individual asked the Ministry of Economy: ‘What’s the plan?’ Have any of you heard this plan? I haven’t. There is no plan right now. That’s why we’d like to hear what the plan is. What’s next? Should we lay off people or not? We’re all just waiting to see what happens,” said the head of the CEO’s office at Metinvest.
According to him, the group is currently planning its actions no more than a month in advance.
“No one is looking further than six months ahead. Everyone is sitting back and watching to see what happens. My view is this, and we see for ourselves that the economic situation is extraordinary. And extraordinary decisions are needed. You can’t live in an extraordinary situation and make decisions that are made as usual,” the expert believes.
When asked about the amount of investment needed for recovery, Vodoviz noted that the group has not yet calculated this.
“We haven’t calculated it yet, but as an example, I mentioned that one furnace costs $500 million if built from scratch, and all five of our furnaces are damaged. Arcelor has two damaged ones. That’s billions of dollars. But we’re assessing the situation. Right now, we definitely won’t be investing in reconstruction because we don’t understand how the situation will develop further,” the top manager explained.
He noted that if the situation changes in any way within a month or two, then appropriate decisions will be made, but for now, there are none. He clarified that at Metinvest, decision-making depends on three factors, and not all of them are military in nature. Although the main one—the first—is shelling and attacks on industrial facilities.
“The second is the ports. Right now, we’re not shipping out or exporting, even though we were the country’s largest exporter until 2026. And the third factor, strange as it may seem, is our European partners, who have completely blocked our exports of steel products. They imposed SWAM; they imposed quotas. And yet they promised us this wouldn’t happen. We held negotiations with both the Ministry of European Integration and the Ministry of Economy. But the EU implemented these measures anyway,” Vodoviz stated.
According to him, these are the three main major problems that need to be resolved.
Regarding state aid, the manager stated: “We don’t turn to the government; we don’t ask for any grants; we don’t want the government to finance us. We simply want a level playing field. There is, for example, the Ukraine Facility program. I know that some funds are being allocated through the Ukraine Facility. Unfortunately, we don’t have access to this program, although we would like to,” said the top executive.
As for ideas about raising taxes, in his opinion, “they won’t lead to anything good.”
“I’m sure any business would say here: don’t get in our way,” concluded Vodoviz.
“Metinvest” is a vertically integrated group consisting of mining and metallurgical enterprises. The group’s enterprises are located primarily in the Donetsk, Luhansk, Zaporizhzhia, and Dnipropetrovsk regions. The holding’s main shareholders are the SCM Group (71.24%) and Smart Holding (23.76%), which jointly manage it. Metinvest Holding LLC is the management company of the Metinvest Group.
MANUFACTURING, METALLURGY, METINVEST, mining and metallurgical complex, STEEL
According to Experts Club, consuming a small amount of concentrated tomato paste daily for three months may have a positive effect on certain measures of memory and attention in healthy middle-aged people, according to the results of a clinical study by Spanish researchers.
According to the New York Post, participants in the experiment consumed about 35 grams of concentrated tomato paste daily—roughly two tablespoons. The study was published in the scientific journal Antioxidants.
The randomized crossover study involved 47 healthy adults aged 40–55, 42 of whom completed the experiment. Participants went through two three-month periods: during one, they consumed concentrated tomato paste daily at a rate of 0.5 g per kilogram of body weight; during the other, they followed a diet low in lycopene. There was a one-month break between periods.
According to the results of neuropsychological tests, the participants’ selective attention scores improved after the period of tomato paste consumption. Concentration scores increased by an average of 7.2 points, and information processing speed scores increased by 8.3 points. Improvements in associative memory were also observed, particularly the ability to match faces with names.
The researchers also noted a trend toward increased levels of the brain-derived neurotrophic factor (BDNF)—a protein involved in supporting neurons, neuroplasticity, and memory processes. However, this increase was on the borderline of statistical significance.
Functional MRI scans of some participants revealed changes in the connections between neural networks associated with attention and cognitive functions. The study authors suggest that tomato consumption may contribute to the functional reorganization of brain networks.
Scientists cite lycopene—a carotenoid antioxidant found in abundance in tomatoes and tomato products—as one possible factor behind this effect. Lycopene is capable of crossing the blood-brain barrier and possesses antioxidant and anti-inflammatory properties. At the same time, the researchers emphasize that tomatoes contain many other biologically active substances, so it is currently impossible to determine whether the observed effect is linked exclusively to lycopene.
The authors also caution against overinterpreting the results. The study was small, lasted only a few months, and was conducted among healthy middle-aged adults. It does not prove that tomato paste prevents dementia or can be used to treat cognitive impairment.
Original study: PubMed – Tomato Intake Improves Cognitive Performance and Modulates Functional Brain Networks in Healthy Adults.
Ukraine’s Cyber Police have warned citizens about a scam involving fake electricity bills, which may be sent via email or messaging apps purportedly on behalf of the Ministry of Energy or other government agencies.
According to the statement, scammers may inform recipients of alleged outstanding balances, send payment invoices, or demand immediate payment. To make their messages more convincing, they use official logos, the names of government agencies, and formatting that resembles genuine communications.
The main goal of the attackers is to trick users into clicking a link to a phishing website. There, they may be asked to enter their credit card information, username, password, SMS verification code, or other personal information. Malware may also be distributed under the guise of a bill or document. As a result, scammers can gain access to bank accounts, email, social media, and other accounts.
The Cyber Police emphasize that the Ministry of Energy of Ukraine does not send electricity bills to consumers and does not collect utility payments. Bills are issued directly by the electricity suppliers with whom consumers have signed contracts.
Signs of a fraudulent message may include a demand for immediate payment via a link provided, information about a non-existent debt, a sender’s email address that does not belong to an official institution, a request to enter bank details or a password, as well as unknown attached files.
Grammatical errors, unusual phrasing, and attempts to create a sense of urgency should also raise red flags.
It is recommended to verify information about electricity payments only through your provider’s official website or app. The cyber police advise against clicking on links in suspicious emails and against entering personal or banking information on websites linked to via email or messaging apps.
If a user has already clicked on a suspicious link, entered banking information, or lost funds, they should contact their bank as soon as possible to block their payment instruments. It is also important to save the correspondence, links, phone number, and other evidence to report the incident to law enforcement.
Additional information about current fraud schemes and ways to protect yourself can be found on the “Cyber Brama” portal at stopfraud.gov.ua.
AVIS Ukraine (VIP-Rent FDI) has renewed nearly 17% of its fleet over the past nine months, adding 60 new vehicles for rental and operational leasing. This marks the company’s largest fleet renewal in the past several years.
More than half of the new additions are SUVs. The fleet now includes, in particular, the Toyota RAV4 Hybrid, Volkswagen Touareg R-Line, Audi A6, and Hyundai Staria minivans. The new vehicles are already available to the company’s customers in Ukraine.
Toyota and Volkswagen accounted for the largest share of the fleet update, together making up over 55% of the new additions. Toyota’s share was 30.5%, while Volkswagen’s was about 25%. New Skoda and Hyundai vehicles were also added to the fleet.
Among individual models, the Toyota Hilux and Volkswagen Tiguan saw the largest increases. The company attributes this to demand for crossovers for travel and all-wheel-drive pickups used by corporate clients, infrastructure projects, and international organizations.
The Skoda Octavia A8—targeted specifically at the corporate segment—and the Hyundai Staria, designed for group transportation and serving large teams, also accounted for a significant share of the new fleet.
AVIS Ukraine simultaneously expanded its premium segment with the addition of the Volkswagen Touareg R-Line and the Audi A6. The company targets these vehicles primarily at business clients, diplomatic missions, and international organizations.
Diesel vehicles formed the bulk of the new additions—61% of all deliveries. The company attributes this composition to the fuel efficiency of diesel models over long distances and their high demand in the corporate segment.
At the same time, over 15% of deliveries in 2026 consisted of hybrid Toyota RAV4s. In this way, AVIS Ukraine is gradually increasing the share of fuel-efficient vehicles in its fleet.
The company has been operating in the Ukrainian market under the Avis brand since 1997, and under the Payless brand since 2016. It provides short-term car rental services for individuals, as well as operating leases and fleet management for corporate clients.
AVIS is an international provider of car rental and operating lease services, with a presence in 185 countries worldwide.
The insurance company VUSO (Kyiv) and the Ukrainian Football Association (UAF) have announced the start of their partnership and that the insurer has been granted the status of official insurance partner of the Ukrainian national soccer team, according to the insurer’s website.
As noted by VUSO CEO Andriy Artyukhov, the company is always on the lookout for projects that embody vibrant energy, character, and a drive to win. The partnership with the Ukrainian Football Association is precisely such an opportunity.
According to the information provided, the partnership includes comprehensive branding of the VUSO brand during the national team’s home and away matches, integration into the UAF’s digital channels, and the implementation of joint media projects.
“In soccer, as in life, it’s important to have reliable support and confidence in those around you. That is precisely why we are pleased to welcome VUSO as the official insurance partner of the Ukrainian national soccer team. It is especially valuable that, even amid the war, Ukrainian businesses continue to support Ukrainian sports and our national team,” noted UAF President Andriy Shevchenko.
VUSO Insurance Company was founded in 2001. On April 23, 2024, the National Bank of Ukraine renewed the company’s licenses to conduct insurance activities (33 for voluntary insurance and 17 for mandatory insurance). The company has 34 representative offices, two branches, and more than 20 agency sales centers throughout the country.
As of the end of 2025, the company’s insurance premiums exceeded 5.1 billion UAH. VUSO ranked second in the voluntary medical insurance and travel insurance segments, third in the comprehensive auto insurance and property insurance segments, and was among the top 10 insurers for mandatory auto liability insurance.
Standard-Rating has updated the financial stability rating of PJSC “Insurance Company ‘VUSO’ (Kyiv)” to “uaAA” on the national scale based on the company’s performance for January–June 2026.
According to information posted on the rating agency’s website, the company collected UAH 2.689 billion in gross premiums during this period, which is 26.3% more than in the same period a year earlier.
Premiums from individual policyholders increased by 18.88% to 1.633 billion UAH, while premiums from reinsurers rose by 6.67% to 23.096 million UAH. Thus, the share of individual policyholders in the insurer’s gross premiums for the first half of 2026 was 60.75%, while the share of reinsurers was 0.86%.
Accrued reinsurance premiums ceded in the first half of 2026 increased by 87.62% compared to the same period in 2025, reaching UAH 456.193 million, and the reinsurers’ share of insurance premiums increased by 5.55 percentage points to 16.97%.
During the reporting period, net premiums increased by 18.39% to 2.232 billion UAH, while net earned premiums rose by 36.91% to 2.415 billion UAH.
In the first half of 2026, VUSO Insurance Company paid out UAH 1.292 billion to its clients, which is 63.98% higher than the total insurance payouts and reimbursements for the first half of 2025. The payout ratio increased by 11.04 percentage points to 48.05%.
At the end of the first six months of 2026, the company’s operating profit increased by 12.73% to 152.743 million UAH, while net profit rose by 52.39% to 155.944 million UAH.
As of July 1, 2026, the insurer’s assets increased by 11.84% to 3.504 billion UAH, equity rose by 13.57% to 1.137 billion UAH, liabilities increased by 11.03% to 2.367 billion UAH,
and cash and cash equivalents increased by 0.69% to UAH 1.219 billion.
The RA also notes that as of the beginning of the second half of 2026, the company had a sufficient level of capitalization (55.02%) and cash coverage of liabilities (48.05%). The balance of funds in the Insurer’s centralized insurance reserve funds (MTIBU) amounted to UAH 749.333 million, which also had a positive impact on the Company’s liquidity.
As of July 1, 2026, VUSO Insurance Company had built a portfolio of current investments in government bonds totaling 583.623 million UAH, which increased the insurer’s level of liquidity assets, which collectively covered 76.14% of the company’s liabilities.
VUSO Insurance Company was founded in 2001. On April 23, 2024, the National Bank of Ukraine renewed the company’s licenses to conduct insurance activities (33 for voluntary insurance and 17 for mandatory insurance). The company has 34 representative offices, 2 branches, and more than 20 agency sales centers throughout the country.
