Akhmetov, Russians clash over Ukrainian steel mills

Putin seen to be backing fast-moving Russian groupConsolidation has been the name of the game this year in Ukraine’s strategically important and vast metals sector, as homeboy billionaire Rinat Akhmetov battles it out with Kremlin-backed investors for control of the country’s ore-starved steel mills.

And although the process hasn’t been pretty in terms of the takeover tactics employed, it’s at least becoming a bit clearer who’s getting what and why, in Ukraine’s metallurgical industry, ranked amongst the top 10 in the world in terms of size and exports.