Large-scale emergency power outages enforced in Kyiv
Emergency power cuts are being applied in significant volumes in Ukraine’s capital Kyiv on Friday, November 11.
Economy - Latest news
11 November 2022
EU urges Russia to extend ‘grain deal’
The European Union has urged Russia to renew the grain agreement and implement the UN Black Sea Grain Initiative in good faith.
Health ministry: Over 950 facilities damaged, 144 destroyed by Russian invaders
Russian occupiers have caused damage to 958 health facilities and fully destroyed 144 since Russia’s full-scale invasion of Ukraine started. The amount of losses suffered by Ukraine’s medical infrastructure exceeds EUR 1 billion.
10 November 2022
Norway to contribute about NOK 1.5B to British-led fund for Ukraine
The Norwegian Government is preparing to contribute approximately NOK 1.5 billion (about $144 million) to the British-led International Fund for Ukraine.
Belgium transfers almost €5M to IMF’s account for Ukraine
Belgium transferred €4.96 million grant contribution to the IMF's Administered Account for Ukraine.
Naftogaz expects to expand cooperation with British energy companies
On November 9, 2022, Naftogaz CEO Oleksiy Chernyshov met with United Kingdom Ambassador to Ukraine Melinda Simmons and discussed the expansion of cooperation with the British companies doing business in the oil and gas sector.
09 November 2022
Further blackouts may shrink GDP by 39% - Ministry of Economy
Ukraine's GDP, which is seeing critically low figures amid the ongoing war, will drop even more – by 39% over the year, if systemic power outages due to Russian shelling prevail for at least a few more weeks.
Three ships with vegetable oil leave Ukrainian ports via ‘grain corridor’
On November 9, 2022, three ships loaded with Ukrainian-produced vegetable oil left Ukraine’s Odesa Port, Chornomorsk Port and Pivdennyi Port as part of the ‘grain initiative’.
PM Shmyhal: EU’s MFA package of EUR 18B to cover Ukraine’s budget deficit significantly
The Macro-Financial Assistance (MFA) package worth EUR 18 billion will help Ukraine to cover a significant portion of the country’s budget deficit, totaling $38 billion.
Ukraine wants to extend ‘grain deal’ by at least one year, revise provisions
Ukraine wants the Black Sea grain export deal expanded to include more ports and goods, and hopes a decision to extend the agreement for at least a year will be taken next week.
Ukraine calls on US to impose sanctions on Russian metallurgy
Ukraine has called on the United States to introduce sanctions against Russia's steel industry and to include Ukrainian ore and other products in the Western supply chain, replacing Russia in these markets.
Ex-NBU governor Shevchenko placed on international wanted list
Former governor of the National Bank of Ukraine (NBU) Kyrylo Shevchenko, suspected of embezzlement of Ukrgasbank funds, was put on the international wanted list.
Luxembourg freezes EUR 5.5B of Russian assets
Luxembourg has frozen EUR 5.5 billion belonging to Russian individuals and legal entities, which is about a third of all Russian assets blocked on the territory of the European Union.
Maximum restrictions on power supply to be introduced in several regions of Ukraine on Wed
Ukrenergo reported where the "maximum" restrictions on power supply are expected today.
Disney finally closing office in Russia: most employees already fired
The Walt Disney Company is completing the closure of its Moscow-based office.
08 November 2022
United States to provide $25M in winterization assistance to Ukraine
U.S. Representative to the United Nations Linda Thomas-Greenfield has announced that the United States, through the U.S. Agency for International Development, will provide $25 million in winterization assistance to help vulnerable people in Ukraine survive the harsh winter.
Ukraine produced 10 bcm of natural gas over nine months despite war – PM Shmyhal
In January-September 2022, Ukrgasvydobuvannya JSC produced about 10 billion cubic meters of natural gas, which is just 2% lower compared to the same period last year.
Shmyhal: Ukraine has enough gas and coal for winter, continues to replenish reserves
As of November 8, Ukraine has accumulated 14.6 billion cubic meters of gas. There are also 1.5 million tonnes of coal at TPP and CHP warehouses.
Finland to help transport Ukrainian grain
Finland will support the grain shipments of the World Food Program (WFP) from Ukraine to Somalia.
Ukraine exports $3.8 B worth of goods in Oct - Economy Ministry
In October, Ukraine exported goods worth $3.8 billion, while imports stood at $4.6 billion.
Ukraine’s foreign reserves up to $25.2B in Oct - NBU
The international reserves of Ukraine increased by 5.5%, amounting to US$25.24 billion as of November 1, according to preliminary estimates.
Ukraine, Slovakia have potential to expand energy cooperation - Ministry
Deputy Minister of Energy of Ukraine for European Integration Yaroslav Demchenkov discussed with the Minister of Economy of Slovakia Karel Hirman the expansion of cooperation in the field of energy.
07 November 2022
Nationalization of five strategic companies will help ensure defense needs - Zelensky
The nationalization of JSC Motor Sich, PJSC Zaporizhtransformator, PJSC AvtoKrAZ, PJSC Ukrnafta and PJSC Ukrtatnafta is a necessary step that will help ensure the urgent needs of Ukraine's defense sector.
PM Shmyhal: Five alienated enterprises to work 24/7 to meet defense needs
The enterprises, whose assets have been forcibly transferred into state ownership, should meet Ukraine’s defense needs, and some of them will restore the production capacities that have been lost.
New IMF mission to start work on Ukraine from Nov 11 – NBU Governor
A new mission of the International Monetary Fund (IMF) will start its work on Ukraine from November 11, 2022.
Motor Sich, Ukrnafta, three more enterprises transferred to Defense Ministry – Danilov
The assets of Motor Sich, Zaporizhtransformator, AvtoKrAZ, Ukrnafta and Ukrtatnafta have been placed under the management of the Ukrainian Defense Ministry.
Kuleba calls on customers, partners to boycott int’l companies remaining in Russia
Minister for Foreign Affairs of Ukraine Dmytro Kuleba has reiterated his call to customers and partners of international companies, which remain on the Russian market and thus finance Russia’s war crimes, to boycott these firms.
NBU sells $410.24M on interbank foreign exchange market
The National Bank of Ukraine (NBU) sold $410.24 million and bought $16.3 million on the interbank foreign exchange market over the past week.
06 November 2022
Over 2,200 crimes against environment committed by Russia since war started
Over 2,200 crimes against the environment have been committed by Russian invaders since the war started. The damage caused has already exceeded EUR 37.4 billion.
Zelensky, von der Leyen discuss macro-financial assistance to Ukraine for 2023
Ukrainian President Volodymyr Zelensky in a phone call with European Commission President Ursula von der Leyen discussed macro-financial assistance to Ukraine for 2023 and opposition to Iran, which supports Russian aggression against Ukraine.