Foreign partners have so far pledged to invest around $675 million in the Ukrainian defense industry to arm Kyiv's forces, Ukrainska Pravda reported on July 11, citing data from the Strategic Industries Ministry.
United24 and Monobank, Ukraine's largest mobile-only bank, launched a fundraising campaign for Hr 100 million (nearly $2.5 million). Within 22 hours, Ukrainians collected Hr 250 million (nearly $6 million).
The annual inflation rate for June was 8.59%, up from 8.30% the previous month. The figure is significantly higher than that of the U.S., which is expected to be around 3.1% for the month of June.
The following is the July 9, 2024 edition of our Ukraine Business Roundup weekly newsletter. This version is condensed as the author was out of the office. To get the biggest news in business and tech from Ukraine directly in your inbox, subscribe here. There’s an unpleasant fact about
A quick Google search on procurement in Ukraine renders pages upon pages of corruption-related headlines. “National Anti-Corruption busts Defense Ministry food procurement scheme;” “Kyiv accuses military brass of procurement graft;” “Ukraine opens arms procurement corruption investigation.” Ukraine introduced Prozorro, an electronic procurement system implemented in 2016, as part of broader
Russia will start producing spare air parts for Boeing and Airbus aircraft due to sanctions restricting the import of these components from abroad, Russian news outlet Izvestia reported on July 10.
A Russian has been arrested in Japan on suspicion of evading sanctions for the first time, Japanese news outlet Nikkei reported on July 10.
Ukraine's drone strikes on Russian oil refinery sites have caused the volume of Russia's oil refining to fall by around 17%, a NATO official reportedly told journalists in Washington on July 9.
Editor’s Note: This is issue 139 of Ukrainian State-Owned Enterprises Weekly, covering events from July 1-6, 2024. The Kyiv Independent is reposting it with permission. Energy sector Russia strikes at Ukrgasvydobuvannya’s facility in Poltava oblast, the company’s press office reported on July 4. Ukrgasvydobuvannya’s acting CEO
Editor’s note: This is issue 63 of Ukrainian lawmaker Yaroslav Zhelezniak’s weekly “Ukrainian Economy in Brief” newsletter, covering events from July 1-7, 2024. The digest highlights steps taken in the Ukrainian parliament related to business, economics, and international financial programs. The Kyiv Independent is republishing with permission. Benchmarks
The following is a chart based off of data originally published in the Kyiv-based Center of Economic Strategy's "Ukraine War Economy Tracker." The Kyiv Independent is republishing it with permission. Consumer confidence falls due to power outages and increased mobilization Consumer confidence index Current situation index Economic expectations index Source:
In 2023, the Russian gas giant suspended Bulgargaz's long-term contract, which covered 90% of the quantities of natural gas delivered by Bulgargaz to customers.
Switzerland announced new sanctions against Russia on July 8, bringing the country further in line with the EU's 14th round of sanctions adopted in response to the Russian full-scale invasion of Ukraine.
The State Bureau of Investigation suspects Ukrainian billionaire Hennadii Boholiubov, who formerly owned Ukrainian bank PrivatBank alongside oligarch Ihor Kolomoisky, of illegally crossing the border and passport fraud, the bureau said on July 9.
Russia's wartime economy has earned a dozen oligarchs $11 billion in dividends as Russian natural resource and finance giants earn record profits during the full-scale invasion of Ukraine, Bloomberg reported on July 9.
Maryna Bezrukova immediately knew she was upsetting murky and powerful forces in Ukraine’s arms trade. Amid a push for reforms in the Defense Ministry, Bezrukova took the reins of the ministry’s Defense Procurement Agency (DPA) this January. She left behind her comfortable job at the state electricity grid
The following is the July 4, 2024 edition of our Ukraine Business Roundup weekly newsletter. This version is condensed as the author was out of the office. To get the biggest news in business and tech from Ukraine directly in your inbox, subscribe here. EU accession talks begin Ukraine and
According to the NBU's report, the offered monthly salaries have continuously grown from around Hr 13,500 ($332) in February 2022 to roughly Hr 19,500 ($480) in May 2024.
Ukraine's government has not distributed EU funding for the reconstruction and protection of energy infrastructure worth 150 million euros ($162 million) for four months due to "bureaucratic obstacles," Ekonomichna Pravda (EP) reported on July 4, citing sources familiar with the situation.
Kyiv is in talks to transit gas from Azerbaijan to the EU after the contract to transit Russian gas expires in December 2024, President Volodymyr Zelensky said in an interview with Bloomberg on July 3.
Editor’s Note: This is issue 138 of Ukrainian State-Owned Enterprises Weekly, covering events from June 24-29, 2024. The Kyiv Independent is reposting it with permission. Corporate governance of SOEs Updated IMF Memorandum. On June 28, the International Monetary Fund (IMF) published an updated Memorandum of Economic and Financial Policies
Editor’s note: This is issue 62 of Ukrainian lawmaker Yaroslav Zhelezniak’s weekly “Ukrainian Economy in Brief” newsletter, covering events from June 24–June 30, 2024. The digest highlights steps taken in the Ukrainian parliament related to business, economics, and international financial programs. The Kyiv Independent is republishing with
Ukraine imported over 858,000 megawatt-hours (MWh) of electricity in June 2024, which is 91% more than the volume imported in May and more than what was imported in the whole of 2023, ExPro Electricity monitoring data showed on July 3.
"These funds will help finance critical budget expenditures, social benefits, and the salaries of doctors and teachers," Prime Minister Denys Shmyhal said.
According to the newly implemented rules, an emergency brake can be applied to imports of eggs, poultry, sugar, oats, maize, groats, and honey. The measure will be automatically triggered if import volumes reach the average yearly imports recorded between July 1, 2021, and Dec. 31, 2023.
The strain on the country's energy infrastructure will be alleviated after repairs at some nuclear power units are completed, which will provide more available capacity, while changes in the weather are also expected to help, according to Kudrytskyi, Volodymyr Kudrytskyi, the head of Ukraine's state grid operator Ukrenergo, said on July 1.
After a long journey fraught with a global pandemic and all-out invasion, Canada and Ukraine successfully revamped a free trade agreement that comes into play on July 1, expanding the relationship between Canadian and Ukrainian businesses. The Canada Ukraine Free Trade Agreement (CUFTA) was initially introduced in August 2017, abolishing
State-owned railway company Ukrzaliznytsia has been granted a license by the Polish Railway Transport Authority, allowing it to enter the European railway freight transportation market, the company announced on June 27.
Swedish furniture giant Ikea decided in May to make plans to reopen its store in Kyiv, Forbes Ukraine reported on June 27, citing two managers of shopping centers and two commercial real estate consultants.
Editor’s Note: This is issue 137 of Ukrainian State-Owned Enterprises Weekly, covering events from June 17-23, 2024. The Kyiv Independent is reposting it with permission. Corporate governance of SOEs Cabinet appoints Energoatom’s supervisory board. Ukraine's Cabinet of Ministers appointed all five members of state-owned nuclear giant Energoatom's supervisory
The following is the June 25, 2024 edition of our Ukraine Business Roundup weekly newsletter. This version is condensed as the author was out of the office. To get the biggest news in business and tech from Ukraine directly in your inbox, subscribe here. Ukraine received practically no external financing
Finland's Gasum, a major gas supplier to the Nordic region, announced on June 25 that it will cease purchasing and importing Russian liquefied natural gas (LNG) in July in accordance with new European Union sanctions.
The Kyiv Independent doesn’t depend on a wealthy owner or an oligarch — in 2023, 80% of our revenue was from reader contributions. It’s thanks to them that we don’t have to rely on a single owner.
Support us now and help maintain our independent model and keep our articles free for everyone. Your contributions allow us to cover journalists’ salaries, report from the front lines, and fund projects like our War Crimes Investigations Unit.
(Updated: )
