Ukraine-based Metinvest has declared force majeure on its shipments to customers in line with the Ukrainian authorities’ announcement of martial law on February 24.
“The ongoing hostilities in Ukraine, military blockades of sea ports, destruction or threat to land infrastructures could impair the performance of our contractual obligations,” the company statement said.
In addition, the National Bank of Ukraine has imposed a moratorium on cross-border payments, which may also impede the producer’s contractual payments in and out of Ukraine.
