The ArcelorMittal Kryvyi Rih team is working to reduce production to a technical minimum and will stop production at mines, ArcelorMittal said on Twitter.

"ArcelorMittal is deeply concerned about the developments in Ukraine and potential impact this will have on our colleagues in the country. Our priority is our people and we had developed plans to help them stay safe should the situation escalate in this way," the company said in a statement.

ArcelorMittal Kryvyi Rih is the largest producer of rolled steel in Ukraine. It specializes in the production of long products, in particular rebar and wire rod.

ArcelorMittal owns the largest mining and metallurgical plant in Ukraine, ArcelorMittal Kryvyi Rih, and a number of small companies, in particular, PJSC ArcelorMittal Beryslav.