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According to reports, Russia's Ministry of Economy and the Ministry of Industry and Trade are studying the possibility of imposing bankruptcy injunctions on steel companies, a measure that could be part of a new round of support policies to address the industry's difficulties. L360Q steel, Officials expect to complete the feasibility assessment by the end of October and incorporate it into a broader crisis response plan.
In addition to the bankruptcy injunction, the government is also discussing a number of potential support measures, including raising the export tariff on scrap steel, abolishing the consumption tax on liquid steel for electric arc furnace companies and new production capacity, and adjusting the consumption tax calculation formula.
Bankruptcy injunctions will provide a direct buffer for heavily indebted steel companies. For example, the Mechel Group recorded a loss in the first half of 2025, and its net debt-to-EBITDA ratio has risen to a critical level of 8.8, with some assets frozen in debt recovery proceedings. L360Q steel, As of June 30, the group had 224.19 billion rubles (approximately US$2.69 billion) in debt that could be demanded at any time. Industrial Metallurgical Holdings (IMH)'s debt nearly doubled in the first half of the year, reaching 76 billion rubles (approximately US$900 million).
Industry insiders say that with expectations of a benchmark interest rate cut and ruble depreciation over the next year, bankruptcy injunctions can help companies weather financial pressures and restore their debt repayment capacity. L360Q steel, However, some warn that such policies may distort market mechanisms, artificially maintain the operation of inefficient companies, and in the long run, may inhibit industry restructuring.
