Abrupt signs of recession are being felt in the eastern industrial heartland of Ukraine. Donetsk, the largest steel and coal-mining town in this export-oriented region is suffering from falling orders.

Smoke stacks are no longer polluting the atmosphere but the city’s 1m residents are not breathing more easily. “The air in recent weeks has been cleaner,” says Victor, who works for a leading steel company in Donetsk. “But the dirty air has been replaced with a sense of anxiety. Industrial growth is slowing. It is being replaced by growing fears of lay-offs.”