President calls for doing business where security situation allows
President of Ukraine Volodymyr Zelensky promises maximum deregulation of business and calls for the resumption of business activities where there is no fighting.
Economy - Latest news
15 March 2022
Spain seizes Russian oligarch's $140M yacht in Barcelona
Spain has temporarily seized a Russian oligarch's $140 million yacht in Barcelona, the vessel belonged to one of Russian oligarch, an ally of Russian President Vladimir Putin.
Italy seeking alternative to half of gas imported from Russia
Italian authorities are negotiating with Algeria and Libya on renewable energy generation, and with Tunisian leaders – on hydrogen fuel supplies.
14 March 2022
World Bank announces additional $200M in financing for Ukraine
Ukraine will receive $200 million more from the World Bank amid the Russian aggression.
13 March 2022
PM Shmyhal: Underground storage facilities contain about 9.5 bcm of gas
Ukrainian underground gas storage facilities are containing about 9.5 billion cubic meters of natural gas at the moment.
12 March 2022
Agrarian Policy Ministry: Ukraine has sufficient food reserves
Ukraine’s production is five times as much as its domestic consumption, so we have sufficient food reserves.
Italy seizes $578M mega yacht owned by Russian oligarch
Italian authorities seized Russian oligarch Andrey Melnichenko's mega yacht, according to Italy’s finance police.
Cabinet offers to lift excise tax, cut VAT rate on fuel
The Cabinet of Ministers on Friday passed two decisions expected to help the country avoid fuel shortages at gas stations and curb prices.
Russia already lost nearly 100,000 jobs due to sanctions
As a result of sanctions imposed for aggression against Ukraine, the Russian Federation has already lost about 100,000 jobs.
11 March 2022
Ways sought to transfer to Ukraine nearly $415B in Russian assets seized in Western jurisdictions
The Ministry of Economy together with partner governments is looking for a mechanism to transfer to Ukraine the seized gold and foreign exchange reserves of Russia’s Central Bank in the amount of $415 billion to compensate for losses caused by the Russian military.
Russia has caused $119B in damage to Ukraine's infrastructure
Russia has caused $119 billion in damage to Ukraine's infrastructure.
10 March 2022
Shmyhal: Ukraine switching to war economy
The Government puts the economy on a war footing and takes all necessary steps to do so.
Zelensky: If there were enough sanctions, invasion would have stopped
Economic sanctions against Russia are still insufficient to stop the invasion of Ukraine. If this issue is not resolved now, the West will have to save other countries from the aggressor.
NBU has $27.7B in foreign reserves, seen as “sufficient” - governor
The National Bank has accumulated $27.7 billion in international reserves as of March 7, 2022, according to preliminary data.
Zelensky signs law on confiscation of Russian property in Ukraine
President Volodymyr Zelensky signed the Law of Ukraine "On the Basic Principles of Forcible Seizure of Objects of Property Rights of the Russian Federation and its Residents in Ukraine".
Nearly 100 U.S. companies pull from Russia – Markarova
Throughout the past two weeks, about 100 American business giants left the Russian market.
U.S. House of Representatives approves $13.6B in Ukraine aid
The U.S. House of Representatives has passed a spending bill totaling $1.5 trillion, which includes, among other things, emergency assistance to Ukraine and its allies worth $13.6 billion.
IMF grants Ukraine $1.4B in emergency financing
On March 9, the IMF Executive Board greenlighted $1.4 billion in additional financing for Ukraine under an emergency support program known as the Rapid Financing Instrument (RFI).
PM Shmyhal: Ukraine to buy out reserve of food in scope of its annual consumption
The state will buy out grain and other food stocks in scope of the annual consumption throughout the country at the expanse of the state budget.
09 March 2022
NBU calls on international partners not to service Russia’s MIR payment cards
The National Bank of Ukraine (NBU) has called on international partners not to service Russia’s MIR payment cards.
08 March 2022
Kuleba calls on global business to stop cooperating with Russia
Minister of Foreign Affairs of Ukraine Dmytro Kuleba has called on the global business community to stop cooperating with Russia and provide all possible support to Ukraine.
World wheat prices break 2008 record
Global wheat prices have exceeded the previous record high observed in 2008. Global food prices are also skyrocketing.
Russian military cause $10B worth of damages to Ukraine’s transport infrastructure
The Russian military have caused more than $10 billion worth of damages to Ukraine’s transport infrastructure.
Minister Leshchenko: Sowing campaign to start wherever possible
The 2022 sowing campaign in Ukraine will start wherever possible, considering military actions.
Embargo on Russian oil, gas to be in place, albeit without Europe so far - Kuleba
Minister for Foreign Affairs of Ukraine Dmytro Kuleba announced an embargo on Russian oil and gas to be imposed by foreign governments, which so far do not include European nations, as they are yet to find alternative energy sources.
06 March 2022
Ukraine to suspend certain exports
The Cabinet of Ministers of Ukraine has amended the quotas on products subject to licensing, resetting quotas for the export of a number of food products.
TikTok suspends operations in Russia
The social network TikTok has decided to suspend its operations in the Russian Federation.
05 March 2022
More global brands quitting Russian market
The international isolation of the aggressor power continues as more and more international companies are pulling out of Russia.
04 March 2022
GTSOU: 13 gas distribution stations disconnected due to enemy shelling
As of March 4, 2022, due to enemy shelling, a total of 13 gas distribution stations were disconnected, and hundreds of consumers were left without gas supplies.
03 March 2022
Ukraine stops exporting natural gas at midnight
From the next gas day, (March 04, 2022) capacity distribution and confirmation of nominations / renominations for the purpose of export of natural gas from Ukraine will be stopped.