Ukrainian company Metinvest is considering exiting its steel project in Italy due to increased Russian pressure on its Ukrainian plants, which is negatively impacting its financial situation, Bloomberg reported, citing sources. The holding company may abandon the $3 billion steel plant construction project in Italy.

Metinvest is reportedly considering selling its entire stake in the joint venture with Danieli Group for the construction of a modern facility on the Tuscan coast. The Piombino plant is expected to produce 2.7 million tons of low-carbon steel per year and create 1100 jobs. Recent Russian attacks, including missile strikes on Metinvest's Zaporizhzhia plant and Kamet Steel workshop, have caused casualties and led to the closure of some enterprises.