Ukrainians warn that if their defenses fail, other European countries will become targets of Russian aggression. Photo: AFP
Vladimir Putin will trigger a third world war if the Russian president is allowed to declare victory in Ukraine, according to the head of the country's largest private employer.
Yuri Ryzhenkov, CEO of Metinvest, which operated the sprawling Azovstal steel plant that was the site of a ruthless Russian attack at the start of the 2022 invasion, warned of the consequences of a Kremlin victory.
“I don’t believe that if Ukraine fails, Putin will stop,” he said in an interview ahead of the two-year anniversary of the war in Ukraine. “The Baltic countries, Poland, Romania, Hungary, Slovakia are the next targets.”
Ryzhenkov’s comments came just days before Putin threatened the US with a global war that would “bring humanity to the brink” if Capitol Hill is sending troops to Ukraine.
Putin's iron grip on power was demonstrated again last week after Russian opposition leader Alexei Navalny died while being held in a prison near the Arctic Circle.
His alleged poisoning has been described as a watershed moment for modern Russia. as an increasingly insecure Kremlin tries to suppress dissent.
Ryzhenkov, who led an international metals and mining group for more than a decade, said history suggests the only way to stop Russia is to defeat it on the battlefield.
He warned that failure to do so would have enormous consequences. “I think it's definitely World War III then. It's not going to stop, in fact, what we've seen for perhaps the last 10 years is a test of the international rules that were developed after 1945.»
Running a business that is literally under fire is It’s not easy, but Ryzhenkov is trying to maintain a sense of normalcy.
The 47-year-old divides his time equally between Kiev, London and mainland Europe, and after the interview it is his turn to take his daughter for a run.
Yuriy Ryzhenkov said that the only way to stop Putin is through military means. Photo: David Rose
Ryzhenkov described the “big problems” he faced in transforming the business. “In two years, everything was adjusted,” he said, downplaying the changes at the company, which was forced to move its headquarters and saw 9,000 of its 60,000 employees go off to fight in the war.
“Obviously, it was not easy at first, especially given the bombing and shelling, as well as the high probability of rocket fire, especially at some of our facilities that are literally 35-40 kilometers from the front line. And we had some successes.”
Ryzhenkov said maintaining production has been particularly difficult. Employees now wear body armor and hard hats to work, and the company has built cover points to protect them from direct fire.
Some also produce tools for use on the front lines. Factories that once made steel for sports stadiums, bridges and skyscrapers, including London's Shard, are now producing bulletproof vests and metal bunkers thanks to founder Rinat Akhmetov's Steel Front military initiative, which has invested 5 billion hryvnia (£104 million) into Ukraine's military efforts. .
He said keeping the lights on remains a priority, even if it means the company is barely breaking even. “Our steel mills operate at 65 to 75% steel production. It is still below optimal.
“In the steel industry, the share of companies has to be above 80% if you want to be profitable, but at least we can keep our people here and keep the businesses intact. We can continue to serve our customers.»
Trump caused outrage in Europe this week by declaring that he «will not defend» any NATO member that has not met its target of spending 2% of GDP on defense This currently applies to half of NATO countries, including Germany, Italy and Belgium.
Meanwhile, this week the US Senate finally approved $60 billion in new aid to Ukraine as part of a $95 billion package agreed upon after months of political wrangling.
Kiev is desperate for more military aid after as Russian President Vladimir Putin vowed to “step up” his offensive.
However, the package still must be approved by the House of Representatives, where it faces even more opposition.
Trump criticized the package for not including cash for US-Mexico border security.
Donald Trump alarmed allies , undermining the principle of collective defense enshrined in NATO's Article 5. Photo: TESS CROWLEY/EPA-EFE/Shutterstock
It is clear that many G7 representatives are concerned about the consequences of a second Trump presidency for Ukraine and are exploring ways to tighten sanctions ahead of the November elections.
But a growing number of Republicans believe the United States cannot afford to continue funding Ukraine's military efforts. Senator Rand Paul said lawmakers must «fix our own country first» before committing more foreign aid.
Ryzhenkov, speaking ahead of the Senate passage of the package, acknowledged that he had persuaded the world's largest economy to continue funding the war effort. “will become a problem.”
“Actually, there is a problem now because the political infighting that is already happening is delaying support. This creates great difficulties on the battlefield and in the Ukrainian economy.”
But he was more diplomatic when asked who he would prefer in the White House: Biden or Trump, and praised both for their support.< /p>
“We must remember that Donald Trump was the president who began supplying arms to Ukraine. The first darts [missiles] appeared while he was in the Oval Office. I think there's a good chance he genuinely wants to stop the war. I am not sure whether this is possible without the complete capitulation of Ukraine, which is contrary to our interests and our allies. So there is a chance that once he realizes this… he will turn to an alternative point of view and simply continue his support or maybe even improve it.»
Under pressure, Ryzhenkov admitted that these statements reflect rather hope. than waiting. “This is my hope. This is my hope. But I see that the probability of this is quite high for him,” he said.
“I think Trump’s problem is that if Russia is allowed to win, then this is a big problem for everyone, including the United States. And Russia is not going to stop.”
Ryzhenkov did not say that The rules are no longer fit for purpose, but added that NATO must make clear that the principle of collective defense remains strong.
“I don’t believe that if Ukraine fails, Putin will stop,” he said. “The Baltic countries, Poland, Romania, Hungary, Slovakia are the next targets. And this will continue until Russia is stopped. And these are NATO members, so [Trump] can't just step aside and say, «Oh, no, no, we're not doing anything.» Now Ukrainian soldiers are fighting for Europeans. But if Ukraine loses, then American and European soldiers will have to fight.
“I'm not sure that this is what Donald Trump wants if he becomes president.”
Ryzhenkov also praised British politicians, admitting that he was supposed to meet with former Prime Minister Liz Truss, but found that she not in Downing Street by the time they managed to reschedule the meeting. “In this short period of time in the UK we have already seen three prime ministers. But support has not diminished. It just grows.”
The only person he wasn't so quick to praise was his own president. When asked whether Vladimir Zelensky is doing a good job, Ryzhenkov replied that he “is not really able to assess what kind of work he is doing.”
But surely he can express an opinion about his own leader?
He remains diplomatic, only suggesting that Zelensky consider creating a government of national unity, “where you unite not only your allies, but also your opponents, just as [Winston] Churchill did in the 1940s years during the war.» office basically.”
Its creation helped pave the way for “difficult decisions that need to be made,” he added, including the country’s controversial conscription laws.
Ryzhenkov insisted that unity is critical if the country is to survive the long war.
“There is no peace on Russian terms,” he said. “We all need to be aware of this. And if Russia is not punished for what it has done, the world will not be safe for a long time.”
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