Ukrainian, Canadian foreign ministers discuss ways to unblock Ukrainian exports
Ukrainian Foreign Minister Dmytro Kuleba and his Canadian counterpart Melanie Joly have discussed ways to unblock Ukrainian food exports.
Economy - Latest news
13 May 2022
Ukraine’s MFA slams Russia as its ship moves stolen Ukrainian grain to Syria
A Russian merchant ship loaded with grain stolen in the occupied territories of Ukraine has been spotted in the Syrian port of Latakia.
Ukraine already spends $8.3B on war with Russia – finance minister
Ukraine has been forced to spend UAH 245.1 billion ($8.3 billion) on its war with Russia instead of development.
12 May 2022
Ukraine has stocked up on food - minister
Ukraine has stockpiled the necessary food products, but due to the ongoing war and the inability to export Ukrainian agricultural products, issues may arise in a number of countries.
EC to establish ‘Solidarity Lanes’ to help Ukraine with agricultural exports
The European Commission is planning to provide a wider access to the EU market of road and railway transport services for Ukraine to establish ‘Solidarity Lanes’ required for agricultural exports, which were mostly blocked due to the Russian invasion.
EBRD allocates over €53 M to boost food security in Ukraine
The European Bank for Reconstruction and Development (EBRD) issues risk-sharing instruments to selected local banks and a leasing company to a total value of €53.25 million to boost food security in wartime Ukraine.
Parliament passes law to seize assets of Russia’s Sberbank, VEB.RF
The Verkhovna Rada of Ukraine passed a law approving the decision of the National Security and Defense Council to seize the assets of Sberbank of Russia and VEB.RF in Ukraine.
EU to disburse second €600 M tranche in macro-financial assistance to Ukraine by May 20
The European Union will disburse the second tranche of emergency macro-financial assistance to Ukraine to the tune of 600 million euros by May 20.
Le Drian calls for support to Ukraine’s agricultural sector, nations most affected by war
French Foreign Minister Jean-Yves Le Drian calls for food solidarity to support Ukraine and the countries most affected by the ongoing war. He also notes that the EU seeks to avoid a global food crisis with the help of the FARM initiative.
Government changing structure of fuel imports to Ukraine
Ukraine is changing the routes of fuel supplies, increasing the volume transported by road, rail and river.
EBRD to exit stakes in Russian companies as quickly as possible
The European Bank for Reconstruction and Development (EBRD) is working to exit its stakes in Russian companies as quickly as possible.
11 May 2022
Ukraine warns other countries against buying Ukrainian grain stolen by Russia
The Ukrainian Foreign Ministry categorically condemns Russia's actions in disposing of grain that was illegally seized from Ukrainian farmers in temporarily captured territories.
Russia blocking 300 cargo ships in Black Sea - U.S.
As part of the invasion of Ukraine, Russia has blocked about 300 cargo ships in the Black Sea that cannot export grain and other food for export from Ukraine.
Ukraine’s war losses amount to at least $90B - Forbes
Ukraine's physical and economic losses as a result of the ongoing war unleashed by Russia are believed to start at $90 billion. Ukraine's infrastructure and real estate have been hit hardest by Russia's invasion, with at least $64 billion worth of damage.
GTSOU says Russia steals gas within temporarily occupied territories
Gas Transmission System Operator of Ukraine (GTSOU) LLC has disclosed the new details of Russia’s halt in gas transit operations via the Sokhranivka gas measuring station in Luhansk Region.
World Bank to disburse $200M a month for salaries to Ukrainian budget-sector employees
The World Bank will disburse an average of $200 million a month for salaries to Ukrainian civil servants and teachers. A total of $1.5 billion will be allocated for this purpose.
10 May 2022
Ukraine cannot ensure safety of gas transit operations via Russian-occupied territories – Naftogaz
Ukraine is no longer responsible for gas transit operations via the Russian-occupied territories, and Russia’s Gazprom has been duly notified of this.
PM Shmyhal: All Russian assets in Ukraine’s territory become state property
The Cabinet of Ministers of Ukraine has adopted a document according to which Russian assets in the territory of Ukraine become the state property, being transferred to the State Enterprise "National Investment Fund".
EU can reach agreement on Russian oil embargo within one week
French Secretary of State for European Affairs Clément Beaune says the European Union could reach an agreement on a Russian oil embargo, which is currently being blocked by Hungary, "within a week."
Ukraine may significantly increase fuel imports via Poland
As part of the Polish-Ukrainian Energy Forum, Ukrainian and Polish government officials, business representatives, logistics enterprises and companies managing fuel infrastructure have developed practical solutions to overcome Ukraine’s fuel market crisis.
09 May 2022
U.S. temporarily suspends 232 tariffs on Ukrainian steel
The U.S. Department of Commerce has announced the temporary suspension of 232 tariffs on Ukrainian steel imports for a year in a bid to bolster Ukraine's steel industry, which accounts for a significant share of the national economy.
PM Shmyhal: Ukraine loses $170M every day due to blocked ports
Ukrainian Prime Minister Denys Shmyhal and President of the European Council Charles Michel have checked the current situation at Odesa Sea Port and coordinated joint steps to resolve the issue of Ukraine’s agricultural exports.
Minister Solskyi: Ukraine’s planted crop areas are 20-30% behind last year’s results
Despite an active sowing campaign, Ukraine’s planted crop areas are 20-30% behind last year’s results.
Ukraine’s macroeconomic situation and banking system stable, PM Shmyhal assures
Despite the full-scale war of the Russian Federation against Ukraine and the loss of about 30% of the economy as many enterprises have been closed or destroyed, Ukraine’s macroeconomic situation and the banking system are stable.
Ukraine cannot export about 90M tonnes of agricultural products due to blocking of ports – Shmyhal
Ukraine cannot export about 90 million tonnes of agricultural products due to the blockade of its ports by Russia, and this could lead to a global food crisis.
Greece helps Russia circumvent sanctions - Die Welt
Russian oil tankers continue to call at European ports unhindered amid EU attempts to limit Russia's ability to export energy. Greece is now helping Russia to circumvent this ban.
Japan agrees to Russian oil imports embargo "in principle"
Japan will embargo Russian crude oil imports "in principle," as part of a G7 decision to counter Russia's invasion of Ukraine, Japanese Prime Minister Fumio Kishida said after an online meeting of G7 leaders on Sunday.
08 May 2022
United States updates sanctions list against Russia
The U.S. Department of the Treasury has published a list of Russian companies and individuals, on which new sanctions were imposed on May 8, 2022.
Canada–Ukraine Free Trade Agreement to be expanded in near future
Ukraine and Canada will finalize the expansion of the free trade agreement in the coming weeks.
Russia suspended from International Gas Union
The International Gas Union (IGU), whose members on behalf of Russia were Gazprom and Novatek, has suspended any involvement of Russian entities in its activities.