# Indian firm behind Trump-announced $15bn steel mill has deep Russia ties

https://mins.news/en/item/78840

- Al Jazeera, 2026-09-29 14:19 UTC
- Economy
- Original: https://www.aljazeera.com/news/2026/9/29/indian-firm-building-15bn-trump-announced-steel-mill-has-deep-russia-ties?traffic_source=rss

> Trump has announced a $15bn steel mill in Iowa to be built by Mesabi Metallics, owned by India’s Essar Group. Essar sold a major Indian refinery to a Russian-led consortium in 2016; the renamed Nayara Energy is partly owned by sanctioned Russian oil company Rosneft. There is no evidence the mill violates US Russia sanctions, but the project highlights the difficulty of isolating Moscow economically.

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