EU probing rising exports of sanctioned goods toward Russia's neighbors
The European Union is set to investigate growing exports to countries that are Russia's neighbors, believing that this way, suppliers may be circumventing Western sanctions.
Economy - Latest news
24 February 2023
Ukraine awaiting FATF's decision on blacklisting Russia - NBU governor
On the anniversary of Russia’s full-scale invasion, the Financial Action Task Force, FATF, is holding a plenary meeting. Therefore, today Ukraine is waiting for the historic decision of the member states on expelling Russia from the organization and putting it on the "black list."
Ukraine’s defense industry can reduce Russian geopolitical influence - expert
Russia’s arms sales remain a critical component of its economy. With the West’s help, Ukraine could work to displace Moscow in key markets, thus weakening its global influence.
Donetsk region’s manufacturing industry shut down, most mines standing idle
In the Donetsk region, the manufacturing industry has shut down so far. Most coal mining enterprises are standing idle.
Ukraine plans to avoid gas imports in 2023 – Naftogaz CEO Chernyshov
In 2023, the management of Naftogaz of Ukraine NJSC is planning to implement an ambitious plan and avoid natural gas imports by ramping up domestic production in order to meet the country’s needs, even amid the Russian invasion.
23 February 2023
Yermak announces sanctions forum in Kyiv
Head of the President’s Office Andriy Yermak has announced a sanctions forum in Kyiv.
Zelensky discusses opening food hubs in Africa with President of Egypt
President Volodymyr Zelensky discussed the issue of food security with President of Egypt Abdel Fattah El-Sisi.
Spain to contribute EUR 4.4M to Grain from Ukraine initiative
Spain will allocate EUR 4.4 million to the Grain from Ukraine initiative together with the World Food Program.
G7 to allocate $39B in economic support to Ukraine this year
The Group of Seven (G7) nations have increased their commitment of financial support to Ukraine in 2023 to $39 billion.
Finance Ministry to discuss full-fledged IMF program in coming weeks
Ukraine expects to start discussing in the coming weeks a full-fledged financial program with the support of the International Monetary Fund.
Russia already spent 35% of annual defense budget - expert
Over the first two months of 2023, Russia has spent almost half of its annual defense budget so, in order to continue the war against Ukraine, will be forced to cut funding for social programs, which is seen as an undesirable step on the eve of the 2024 elections.
War risk insurance mechanisms needed to attract investment - First Deputy PM
Ukraine seeks to attract private investment in the economy even before the war ends, and to this end it is necessary to introduce comprehensive war risk insurance for both foreign and domestic entrepreneurs.
UK extends tariff relief for Ukraine until early 2024
The Government of the United Kingdom extends temporary liberalisation of all tariffs for imports from Ukraine until early 2024.
NACP puts Auсhan on list of international sponsors of war
The National Agency on Corruption Prevention of Ukraine (NACP) put Auchan French retail group on the list of international sponsors of war.
Waste processing plant starts operating in Zhytomyr
In Zhytomyr, the first phase of the waste processing plant started operating.
Shmyhal calls on regional governors to draw up recovery projects as soon as possible
Ukrainian Prime Minister Denys Shmyhal has called on the heads of regional military administrations to draft regional recovery projects as quickly as possible.
G7 to contribute to IMF’s financial assistance to Ukraine - Bloomberg
The Group of Seven nations plan to resolve by the end of March the issue of supporting Ukraine with the funds of the International Monetary Fund.
War-related damage to Ukraine environment estimated at UAH1.9T
Since the outset of the full-scale war, UAH 1.9 trillion worth of damage was inflicted on the environment across Ukraine.
Ukraine delivers 22M t of food to 43 countries through sea exports - Zelensky
Thanks to sea exports from Ukraine, 43 countries have received more than 22 million tonnes of food products from Ukraine.
22 February 2023
Yermak hopes Black Sea Grain Initiative will be extended
Andriy Yermak, the head of the Office of the President of Ukraine, has said that the Initiative on the Safe Transportation of Grain and Foodstuffs from Ukrainian ports is an important project for the country and the whole world and expressed hope that it would be extended.
Ukrgasvydobuvannya gets equipment from top US gas producer
Ukraine's gas producer Ukrgasvydobuvannya has received equipment from EQT Corporation, a leading U.S. natural gas producer, for the restoration of the damaged oil and gas production infrastructure.
Ukraine needs extra $10B in financing this year – finance minister
Ukraine needs an additional $10 billion in financing to cover its budget needs in 2023 and to start the reconstruction of the economy.
Ukraine's trade turnover shrinks by 35%
In January 2023, Ukraine's trade turnover totaled $7.9 billion, down 35% compared to the corresponding period in 2022.
Svyrydenko: Ukraine wants to speed up legal procedures to use Russia’s frozen assets
A legal solution for the use of Russian assets that have been frozen in EU countries for the recovery and reconstruction of Ukraine may take a long time, but Ukraine expects that such solutions at the legislative level can be found quickly.
Deputy PM: Ukraine counting on economic growth already this year
Ukraine is counting on economic growth already this year and intends to continue cooperation with partners on solving key issues, including business security, logistics, and attracting foreign investment.
Zelensky signs off law allowing duty-free imports of UAVs
President Volodymyr Zelensky of Ukraine signed two laws streamlining y the import of unmanned aerial vehicles and a number of other war-related goods into the territory of Ukraine.
Ukraine seeks to extend "Grain deal" for 12 months year to involve more ports - deputy minister
This week, Ukraine will appeal to Türkiye and the United Nations to start negotiations on extending the Black Sea Grain Agreement for at least 12 months to include the ports of Mykolaiv.
Ukraine expects over 4.6M to return to participate in country’s reconstruction - Vice PM
The government of Ukraine is working to create conditions for the return to the country of more than 4.6 million citizens who were forced to flee the war and remain abroad, because without their participation it would be difficult to solve the task of restoring and rebuilding the country after the end of the war.
Over 2.6M ha of farmlands must be demined in Ukraine
Ukraine may curb the production of agricultural products and food this year as more than 2.6 million hectares of farmlands require demining due to Russian aggression.
Finland allocates another EUR 5M to support grain deal
The Government of Finland allocates another EUR 5 million to the World Food Program (WFP) to support the implementation of the Black Sea Grain Initiative.