The German arms manufacturer Rheinmetall will supply Ukraine with "hundreds of thousands" of shells in 2024, including prototypes of artillery shells with a range of 100 kilometers, CEO Armin Papperger said.
The most damage was caused by the attacks on thermal, and hydro electricity generation facilities.
Foreign aid is crucial for Ukraine as the economic pressure caused by the full-scale Russian invasion mounts. The besieged country received $42.5 billion in external financing last year, allowing it to function amid the ongoing war.
"This move, together with other measures by the NBU, should allow Ukrainian businesses to 'breathe to their full potential' and help attract private capital to recover the economy," said NBU Governor Andriy Pyshnyy.
The Vienna-based bank group, the largest remaining Western bank in Russia, has been under increasing pressure since the start of Russia's all-out war to scale down its activities in the country.
During his visit to Lviv, David Cameron met the regional governor, Maksym Kozytskyi, to discuss business cooperation between the U.K. and Lviv Oblast.
A Russian court canceled the seizure of some of JPMorgan funds in Russia as part of a lawsuit with the Russian state-owned bank VTB, Reuters reported on May 2.
The state-owned Russian energy giant Gazprom reported a net loss of 629 billion rubles (nearly $6.9 billion) in 2023, the company's largest profit downturn in decades amidst falling gas prices and a limited European market.
More than 8 million passengers traveled on Ukrainian Railways' trains between January and April 2024, indicating a 25% person increase compared to 2023, the company reported on May 2.
Hackers targeted Ukraine's largest mobile-only bank, Monobank, with a powerful denial of service (DDoS) attack on May 2, the company's co-founder and CEO Oleh Horokhovskyi reported.
Around 1 million Russians left the country after the start of the all-out war due to their opposition to the invasion or out of fear of mobilization.
The following is the April 30, 2024 edition of our Ukraine Business Roundup weekly newsletter. To get the biggest news in business and tech from Ukraine directly in your inbox, subscribe here. Polish farmers finally ended their protests at the Hrebenne-Rava-Ruska border crossing on April 29, effectively lifting a blockade
Ukraine exported more than 13 million tons of products totaling $3.3 billion in April, which is higher than volumes for February 2022 before the start of the full-scale invasion, Economy Minister Yulia Svyrydenko said on May 1.
Raiffeisen has been interested in buying a 1.5 billion euro ($1.6 billion) stake in the construction company Strabag, which is linked to Russian oligarch Oleg Deripaska.
"We note the ongoing efforts by countries which operate Russian-designed reactors to make progress in securing alternative nuclear fuel contracts and to reduce dependencies related to spare parts, components, and services," read the statement issued after a two-day ministerial summit in Torino, Italy.
The cost of diesel went up almost 10% in the past week, while gasoline's prices hit a six-month high, going up more than 20% when compared to the start of the last year, Politico wrote, citing government data.
The U.S. Senate on April 30 voted unanimously to approve legislation banning imports of enriched uranium from Russia. The legislation will now advance to the White House, where U.S. President Joe Biden must sign the bill in order for it to become law.
"This is only the calculated amount, because there are still many unaccounted for, because it is impossible to get to the territories there, to inspect them," said Olena Rybakova, deputy agriculture director for the Donetsk Oblast State Administration.
Editor’s note: This is issue 53 of Ukrainian lawmaker Yaroslav Zhelezniak’s weekly “Ukrainian Economy in Brief” newsletter, covering events from April 22-28, 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
Editor’s Note: This is issue 129 of Ukrainian State-Owned Enterprises Weekly, covering events from April 20-26, 2024. The Kyiv Independent is reposting it with permission. Corporate governance of SOEs Economy Ministry announces a competitive selection to find an independent member for Ukrenergo’s supervisory board. On April 23, the
Eurostat, the EU's statistics agency, said that the import of Russian urea, a typical fertilizer, had doubled from the previous year up to June 2023.
Ukraine and the United Arab Emirates have finalized a bilateral trade agreement that lays the foundation for deepening investment and trade between the two countries, Ukraine's Economy Ministry announced on April 29.
The largest Western banks that continue to operate in Russia have paid 800 million euros ($857 million) in taxes to its budget in 2023, which is four times more than before Moscow's full-scale invasion of Ukraine, the Financial Times (FT) reported, citing its analysis.
Some Chinese banks Major Chinese are limiting payments for transactions with Russia due to concerns about U.S. sanctions, Reuters reported on April 29, citing unnamed trading and banking sources familiar with the matter.
Italy has overcome its dependence on Russian gas and will not oppose the proposed package of EU sanctions on liquified natural gas (LNG), Italian Energy Minister Gilberto Pichetto Fratin said on April 28.
More than 2,500 gambling websites that had operated without a license were blocked in Ukraine as of April 27, the Prosecutor General's Office reported.
Russia could seize assets and property of U.S. individuals held in Russia if Washington confiscates Russian sovereign assets, Dmitry Medvedev, the deputy chairman of Russia's Security Council, threatened on April 27.
The Naftogaz Group did not specify in what oblasts the targeted gas facilities were located, nor what the full consequences of the attack were.
Thirty-eight years after the Chornobyl disaster, Ukraine’s nuclear industry continues to produce around half of Ukraine’s power output and remains vital to keeping the country functioning. The share of energy output in Ukraine that comes from nuclear power is the third highest in the world after France and
Being majority-owned by the Russian state, dividends can be used to fund the full-scale invasion of Ukraine.
"This is an approach that could be broadly supported by countries that are concerned about the seizure of assets, and some of the interest could be brought forward through, for example, a loan," Yellen said.
"Instead of repeated statements about intentions to reduce and sell their activities in Russia, the Raiffeisen Bank International is the Western lender with the largest operations in Russia."
