Is there a different company Azov Steel?
It looks like the t-shirt might say “Azov Steel” just like the poster does.
The Sea of Azov is right by Crimea - a finger of the Black Sea.
The sprawling Azov Steel Plant (aka Avostal) in Mariupol is where the AZOV Battalion holed up when the Russians were taking the city early in the war. There is a network of tunnels and bunkers under the plant built during the Cold War to protect the workers there in case of nuclear attack.
After 80 days, they finally surrendered to the Russians in May of 2022. The photo was likely taken during the seige of the plant.
Yes, AZOV is named after the Sea of Azov. AZOV’s home base was once in Mariupol, which is on the northern coast of that sea.