Search
00
GBAF Logo
trophy
Top StoriesInterviewsBusinessFinanceBankingTechnologyInvestingTradingVideosAwardsMagazinesHeadlinesTrends

Subscribe to our newsletter

Get the latest news and updates from our team.

Global Banking & Finance Review®

Global Banking & Finance Review® - Subscribe to our newsletter

Company

    GBAF Logo
    • About Us
    • Profile
    • Privacy & Cookie Policy
    • Terms of Use
    • Contact Us
    • Advertising
    • Submit Post
    • Latest News
    • Research Reports
    • Press Release
    • Awards▾
      • About the Awards
      • Awards TimeTable
      • Submit Nominations
      • Testimonials
      • Media Room
      • Award Winners
      • FAQ
    • Magazines▾
      • Global Banking & Finance Review Magazine Issue 79
      • Global Banking & Finance Review Magazine Issue 78
      • Global Banking & Finance Review Magazine Issue 77
      • Global Banking & Finance Review Magazine Issue 76
      • Global Banking & Finance Review Magazine Issue 75
      • Global Banking & Finance Review Magazine Issue 73
      • Global Banking & Finance Review Magazine Issue 71
      • Global Banking & Finance Review Magazine Issue 70
      • Global Banking & Finance Review Magazine Issue 69
      • Global Banking & Finance Review Magazine Issue 66
    Top StoriesInterviewsBusinessFinanceBankingTechnologyInvestingTradingVideosAwardsMagazinesHeadlinesTrends

    Global Banking & Finance Review® is a leading financial portal and online magazine offering News, Analysis, Opinion, Reviews, Interviews & Videos from the world of Banking, Finance, Business, Trading, Technology, Investing, Brokerage, Foreign Exchange, Tax & Legal, Islamic Finance, Asset & Wealth Management.
    Copyright © 2010-2026 GBAF Publications Ltd - All Rights Reserved. | Sitemap | Tags | Developed By eCorpIT

    Editorial & Advertiser disclosure

    Global Banking & Finance Review® is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.

    Home > Top Stories > Mariupol a strategic prize for Russia, symbol of resistance for Ukraine
    Top Stories

    Mariupol a strategic prize for Russia, symbol of resistance for Ukraine

    Published by Jessica Weisman-Pitts

    Posted on March 31, 2022

    4 min read

    Last updated: January 20, 2026

    Image depicting protests at the Rafah border crossing, reflecting public unrest amidst economic tensions. This relates to the article's focus on the euro's decline against the dollar due to the energy crisis affecting Europe.
    Protests at Rafah border crossing regarding Trump's displacement plan - Global Banking & Finance Review

    By Pavel Polityuk and Natalia Zinets

    (Reuters) – The southern Ukrainian port of Mariupol has been under heavy fire from Russian forces since soon after the war began on Feb. 24.

    Nearly 5,000 people have been killed and buildings across the city destroyed, according to the mayor. He said 290,000 people had fled by March 27 but that at least 160,000 were still trapped without power and with little food or other supplies.

    Why is the city so important?

    STRATEGIC LOCATION

    Mariupol is the biggest Ukrainian city on the Sea of Azov, which is connected to the Black Sea by the narrow Kerch Strait. The city takes its name from Maria Feodorovna, the wife of Russian Emperor Alexander III, and lies about 70 km (43 miles) from the border with Russia. It is also a few kilometres from territories of eastern Ukraine controlled by Russia-backed separatists who have been fighting Ukrainian government forces since 2014.

    Mariupol’s capture could enable Russia to create a land bridge between two separatist, self-proclaimed people’s republics in Donbas and the Crimea region which Russia seized and annexed in 2014.

    Capturing Mariupol would also give Russia control of the Ukrainian coast on the Sea of Azov as it also tries to cut Ukraine off from the Black Sea. Russian forces have already seized the Black Sea port of Kherson about 380 km from Mariupol and Russia controls Crimea’s Black Sea ports.

    Losing Mariupol, and the establishment of a land corridor, could give Russian forces a chance to encircle Ukrainian troops that before the war were based on the line of contact around separatist-controlled territory.

    Capturing Mariupol would free up Russian troops bogged down there for new duties such as reinforcing other fronts.

    ECONOMIC ROLE

    Mariupol is important role for Ukraine’s economy as the port is used to export iron, steel, grain and heavy machinery, a significant source of income for the Ukrainian government.

    It was traditionally a major export port for coal in Soviet times, when it was from 1948 until 1989 known as Zhdanov, after a communist leader who was born there.

    A senior industry official said on March 21 that Ukraine faced a possible grain revenue loss of $6 billion because of Russia’s blockade of ports including Mariupol.

    Countries that rely on imports of Ukrainian wheat include Egypt, Turkey and Yemen. The war is contributing to global food inflation.

    Mariupol is also home to the Illich Iron and Steel Works, the second largest metallurgical enterprise in Ukraine, and to the Azovstal iron and steel works, one of the biggest steel rolling companies in the country.

    Mariupol has deeper berths than other Ukrainian ports in the region. Controlling it could help Russia ship equipment, goods and personnel more quickly and easily between Russia, Donbas and Crimea.

    DAVID AND GOLIATH

    Mariupol has become a symbol of Ukrainian resistance, with leaders portraying the outgunned defenders as heroes fighting an uneven battle similar to the Biblical struggle between David and Goliath.

    Some foreign and Ukrainian leaders have compared the destruction in Mariupol to the devastation caused by Russian assaults on the Syrian city of Aleppo and Grozny in Russia’s restive Chechnya region.

    Mariupol would be the first major Ukrainian city to fall to the Russian invaders. Losing it would be a potentially heavy psychological blow that dents Ukrainian morale.

    By contrast, it could lift the mood in Russia and be held up by President Vladimir Putin as an important victory in a war that Western military experts say has largely struggled to achieve its objectives.

    Russia has vilified the Azov Battalion, a far-right militia that is part of Ukraine’s National Guard and has been helping defend Mariupol. One of the declared goals of Putin’s “special operation” was to “denazify” Ukraine. Western leaders say that was a baseless pretext for an unjustified war, but Putin would be likely to hold up a defeat of the Azov Battalion, or the capture of any if its fighters, as a milestone.

    (Writing by Timothy Heritage; Editing by Andrew Cawthorne)

    Why waste money on news and opinion when you can access them for free?

    Take advantage of our newsletter subscription and stay informed on the go!

    Subscribe

    More from Top Stories

    Explore more articles in the Top Stories category

    Image for Lessons From the Ring and the Deal Table: How Boxing Shapes Steven Nigro’s Approach to Banking and Life
    Lessons From the Ring and the Deal Table: How Boxing Shapes Steven Nigro’s Approach to Banking and Life
    Image for Joe Kiani in 2025: Capital, Conviction, and a Focused Return to Innovation
    Joe Kiani in 2025: Capital, Conviction, and a Focused Return to Innovation
    Image for Marco Robinson – CLOSE THE DEAL AND SUDDENLY GROW RICH
    Marco Robinson – CLOSE THE DEAL AND SUDDENLY GROW RICH
    Image for Digital Tracing: Turning a regulatory obligation into a commercial advantage
    Digital Tracing: Turning a regulatory obligation into a commercial advantage
    Image for Exploring the Role of Blockchain and the Bitcoin Price Today in Education
    Exploring the Role of Blockchain and the Bitcoin Price Today in Education
    Image for Inside the World’s First Collection Industry Conglomerate: PCA Global’s Platform Strategy
    Inside the World’s First Collection Industry Conglomerate: PCA Global’s Platform Strategy
    Image for Chase Buchanan Private Wealth Management Highlights Key Autumn 2025 Budget Takeaways for Expats
    Chase Buchanan Private Wealth Management Highlights Key Autumn 2025 Budget Takeaways for Expats
    Image for PayLaju Strengthens Its Position as Malaysia’s Trusted Interest-Free Sharia-Compliant Loan Provider
    PayLaju Strengthens Its Position as Malaysia’s Trusted Interest-Free Sharia-Compliant Loan Provider
    Image for A Notable Update for Employee Health Benefits:
    A Notable Update for Employee Health Benefits:
    Image for Creating Equity Between Walls: How Mohak Chauhan is Using Engineering, Finance, and Community Vision to Reengineer Affordable Housing
    Creating Equity Between Walls: How Mohak Chauhan is Using Engineering, Finance, and Community Vision to Reengineer Affordable Housing
    Image for Upcoming Book on Real Estate Investing: Harvard Grace Capital Founder Stewart Heath’s Puts Lessons in Print
    Upcoming Book on Real Estate Investing: Harvard Grace Capital Founder Stewart Heath’s Puts Lessons in Print
    Image for ELECTIVA MARKS A LANDMARK FIRST YEAR WITH MAJOR SENIOR APPOINTMENTS AND EXPANSION MILESTONES
    ELECTIVA MARKS A LANDMARK FIRST YEAR WITH MAJOR SENIOR APPOINTMENTS AND EXPANSION MILESTONES
    View All Top Stories Posts
    Previous Top Stories PostUkraine and Russia: What you need to know right now
    Next Top Stories PostChina decries UK judges quitting HK court, London says democracy at stake