Severstal filed a lawsuit against VTB for ль1.8 billion

Mining and metallurgical company “Severstal” has filed a claim to PJSC “VTB Bank” with the Arbitration Court of Moscow, follows from the file file of arbitration cases.

The company wants to recover from the bank almost 1.84 billion rubles. The third person is Minpromtorg.

Other details are not given.

A source of RBC, familiar with the details of the case, said that the lawsuit concerns a litigation on a subsidy of the Ministry of Industry and Trade. Severstal declined to comment.

VTB also declined to comment on the situation.

In 2026, Severstal decided to cut costs amid a decline in demand for steel. In March, the company announced a budget adjustment: capital investments were planned to be reduced by 24%, and repair fund costs by 14%. The head of the company Alexander Shevelev said that since the beginning of 2024, the demand for steel in Russia has decreased by 31%.

Severstal is a mining and metallurgical company engaged in the production of steel and metal products, as well as the extraction of raw materials for their production.

Earlier, in 2022, the Ministry of Industry and Trade decided to return metallurgical companies the opportunity to receive subsidies to compensate for part of the cost of transporting products for export. The measure was necessary due to the growth of logistics costs and the reorientation of supplies of Russian manufacturers to new markets.