Western embargo on Russian gold to cost Kremlin $19B annually - Blinken
Introducing a ban on Russian gold, which is the country’s second most lucrative export after energy, will deny Russia access to $19 billion of revenues a year.
Economy - Latest news
27 June 2022
"Grain corridor" from Ukraine to launch in three to four weeks if deal reached, Turkish official says
The opening of the "grain corridor" will take three to four weeks, but the main factor in starting this process is the agreement that is yet to be reached between Ukraine and Russia. To this end, Istanbul is ready to host a meeting in the Turkey-Ukraine-Russia-UN format.
Japan PM announces additional sanctions on Russia
Japanese Prime Minister Kishida Fumio has announced additional sanctions against Russia, including a ban on imports of Russian gold.
Russia defaults on foreign debt - Bloomberg
The Russian Federation for the first time defaults on foreign debt, which has become a climax of ever-tougher Western sanctions, which have shut payments paths to creditors.
26 June 2022
Russia exports at least 400,000 tonnes of grain from Ukraine – agriculture ministry
Since the beginning of the all-out invasion, Russia has exported at least 400,000 tonnes of grain from occupied Ukrainian territories.
UK ready to provide $525M in financial aid for Ukraine
London is ready to provide another $525 million in guarantees for World Bank lending later this year.
25 June 2022
Ukraine increases grain exports by 50% every month amid sea blockade
To address the global food crisis caused by Russia's blockade of Ukrainian seaports, Ukraine is increasing its grain exports across its western borders by 50 percent every month.
Ship recently docked in occupied Berdiansk’s port believed to try to take out stolen Ukrainian grain
A dry cargo vessel has checked in the port of Berdiansk, the city in southern Ukraine, which has been temporarily captured by Russian invasion forces. Ukraine officials believe a batch of Ukrainian grains will be loaded onto the ship to be illegally exported out of the country.
Ukraine to receive EUR 1B grant from Germany - finance ministry
Minister of Finance Serhiy Marchenko of Ukraine and his German counterpart Christian Lindner have signed an Agreement between the two governments on providing Ukraine with EUR 1 billion in grant funding.
24 June 2022
Ukraine needs to export 18M tonnes of last year's crops – agriculture minister
Ukraine, with the support of the European Union, must constantly develop ways to export its products, which could be an alternative to the sea route.
European Council approves EUR 9B in aid for Ukraine
The European Council at its summit approved macro-financial assistance to Ukraine in the amount of EUR 9 billion.
Scholz calls on world to keep up pressure on Russia
The international community cannot afford to ease pressure on Russia, which is trying to create a global food crisis.
Invaders take out all old harvest grain from Melitopol silos - mayor
Every day, the Russian military drives dozens of grain trucks out of captured Melitopol. The invaders are only willing to buy grains from local farmers at a dumped price of $80 per tonne, which is below cost price.
US officials release images showing damage to Ukrainian grain silos caused by Russian attacks
The United States intelligence has released the data related to Russia’s military attacks against Ukrainian grain silos, including Ukraine’s second biggest grain terminal Nika-Tera in Mykolaiv earlier this month.
SBU blocks UAH 1B worth of assets of Russian oligarch's mining companies
Ukraine's SBU State Security Service has blocked the assets of a Russian oligarch's mining companies for more than UAH 1 billion.
Ukraine joins EU's LIFE environmental program
Ukraine has joined the EU's LIFE program, under which it will be able to get resources and funding to address the long-term effects of Russian aggression, as well as to restore the environment as a whole.
Russia solely responsible for global food security crisis – EU summit resolution
The Heads of States and Governments of EU countries, who started a high-level meeting in Brussels on June 23, 2022, recognized Russia as a country attempting to weaponize food in its war against Ukraine and solely responsible for the global food security crisis.
Ukraine, Moldova to resume railway services this autumn
Ukraine and Moldova are planning to resume railway services, namely freight railway operations, as soon as this autumn.
23 June 2022
Cavusoglu discloses details of plan to create corridors for grain exports from Ukrainian ports
Turkey supports the UN-proposed plan to export grain from Ukraine, which foresees the creation of a safety zone directly near Ukraine's territorial waters where the vessels going to the Ukrainian ports will undergo checks in order to prevent weapons transportation.
Turkish UAV powered by Ukrainian engine sets new altitude record
Turkey’s Akıncı UAV, created by Baykar Makina, and powered by a Ukrainian-made engine, has set a new altitude record.
French, German lawmakers urge Europe to revise energy strategy, get rid of Russia dependence
Europe should review its energy strategy and draw a plan for the development of renewable energy and the rational use of energy in general. This is necessary to achieve full independence from Russian gas supplies.
Turkey says “difficult” to determine origin of grain sold by Russia
Turkey says Russia has provided documents claiming that the grain it is exporting has not been taken from Ukraine so it remains hard to determine its origin.
Boryspil International in Eastern Europe’s TOP10 best airports
The British consulting company Skytrax presented the winners of The World’s Best Airports 2022 according to a passenger survey. The top ten include airports of Batumi, Budapest, Tallinn, Bucharest, Riga, Tbilisi, Boryspil, Belgrade, Bratislava, and Zagreb.
Poland may help Ukraine rebuild merchant fleet
Polish shipbuilding industry officials are willing to set up cooperation with counterparts in Ukraine to restore the latter’s merchant fleet.
22 June 2022
Ukraine’s oil processing industry suspends operation due to Russian missile attacks – Vitrenko
Ukraine’s oil processing industry has suspended operation due to Russian missile attacks.
Zelensky, Kariņš discuss Ukraine’s grain exports
Ukrainian President Volodymyr Zelensky and Latvian Prime Minister Krišjānis Kariņš have discussed the situation with Ukraine’s grain exports and support for granting Ukraine EU candidate status.
21 June 2022
Energoatom, Westinghouse discuss construction of new nuclear power units in Ukraine
Ukraine's National Nuclear Energy Generating Company Energoatom and U.S.-based Westinghouse have discussed bilateral cooperation, including the preparation of regulatory documentation for the construction of new nuclear power units using AP1000 technology in Ukraine.
Amount of financial aid to Ukraine since invasion stands at $30B - National Bank
Since the full-scale Russian invasion of Ukraine as of June 15, the total amount of assistance declared and provided to the country by international partners is $30 billion.
Zelensky, Orbán agree to develop cooperation in energy sector
Ukrainian President Volodymyr Zelensky and Hungarian Prime Minister Viktor Orbán have agreed to develop cooperation in the energy sector.
National Bank projects GDP to decline by at least a third due to war
According to the National Bank estimates, GDP will decline by at least a third at the end of the year.