Ukrainian union: Possible increase in railway transportation fees may lead to 300,000 people losing their jobs and cause pressure on the steel industry.

The Ukrainian Metallurgical Industry Union stated on Tuesday that the Ukrainian state-owned railway is planning to increase freight rates, which may drag down the domestic gross domestic product, lead to the permanent closure of some factories, and cause 300,000 people to lose their jobs. Alexander Pertsovsky, CEO of Ukrainian Railways, revealed earlier this month that the company plans to increase freight rates by at least 45% to reduce losses and ease high debt pressure. The chairman of the union, Alexander Kalyenko, responded to the railway company's statement by stating that the Ukrainian steel industry is currently losing 28 billion hryvnia, and if additional burdens are added, the industry will suffer a fatal blow.