The postponement of the European environmental duty SVAM is a pressing issue for the Ukrainian economy, as enterprises need billions of euros for modernization, but the war makes it impossible to attract them.
Metinvest's Chief Operating Officer Alexander Mironenko spoke about this in an interview with Interfax-Ukraine.
"This is a very pressing issue for us. We understand the need to modernize equipment in order to move to green metallurgy. But there are certain circumstances, such as the war, that do not allow us to do this now. We are very grateful to the government for including in the European integration program a clause to defer CBAM requirements for Ukrainian manufacturers. They need to be postponed for the duration of martial law plus 3-4 years so that we can recover from the war and begin modernization," Mironenko noted.
He noted that Metinvest has a full understanding of what needs to be done and how. But overall, the green modernization of our assets in Ukraine, together with joint ventures, is estimated at about $8 billion.
Let us recall that according to the FRU, if the SVAM is implemented for Ukraine, by 2034 the GDP will fall by $8.7 billion compared to 2026, and in 2034 – already $11.3 billion. Ukraine also expects a decrease in tax revenues and social contributions to budgets and funds at all levels due to a reduction in business activity2,2 reaching $3.6 billion in 2034.
Earlier, the German publication Tagesspiegel stated that the European Commission is ready to postpone the SAM for Ukraine until at least 2027, but the government must send an official request. At the same time, there is no such request from the Ukrainian authorities.
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