Editor’s note: This is issue 25 of Ukrainian lawmaker Yaroslav Zhelezniak’s weekly "Ukraine Reforms Tracker" covering events from May 5–May 11, 2025. 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
Ukraine's underground storage facilities are currently using 19.4% of their capacity. Almost 32%, or 2.79 bcm, less gas is available in the storages than in the previous year, according to the estimates.
More than 1,000 Russian government entities and 1,200 private companies are involved in the economy of occupied Mariupol, a major southeastern city occupied by Russia after it invaded Ukraine in 2022, according to a research paper published on May 14.
The European Union’s 17th package of sanctions against Russia, agreed on May 14, is being hailed in Brussels as a symbol of steady resolve. European Commission President Ursula von der Leyen welcomed the move, insisting it would "keep the pressure high on the Kremlin." But outside the EU bubble,
The measures target almost 200 ships of Russia's "shadow fleet," 30 companies involved in sanctions evasion, 75 sanctions on entities and individuals linked to the Russian military-industrial complex, and more.
The EU plans to significantly increase tariffs on Ukrainian goods after the current duty-free deal lapses on June 6, the Financial Times reported on May 14, citing undisclosed diplomatic sources.
The blockade ended at 10:30 p.m. local time. Truck traffic in both directions is now moving as usual, according to Ukraine's State Border Guard's statement.
The move follows Ukraine's ratification of the minerals agreement, deepening U.S.-Ukraine economic ties and signaling expanded U.S. involvement in Ukraine's long-term recovery.
"Amendments to the Budget Code are needed to implement the provisions on funding the U.S.-Ukrainian Reconstruction Investment Fund," lawmaker Roksolana Pidlasa said.
The revision was connected to global trade upheavals, which only aggravate Ukraine's economic challenges stemming from Russia's full-scale invasion.
The sanctions will expire at the end of July unless all 27 EU member states agree to extend them.
Syrian President Ahmed Al-Sharaa is reportedly offering a deal that would give U.S. companies access to Syria's natural wealth, reminiscent of the minerals agreement Washington recently signed with Kyiv.
The deepening labor shortage reflects growing strain on Russia's workforce as the Kremlin aggressively recruits men for its war against Ukraine.
According to the Verkhovna Rada's website, Ukraine completed the ratification of the U.S.-Ukraine minerals agreement on May 12. President Volodymyr Zelensky signed the deal.
Foreign Minister Andrii Sybiha said Ukraine and its allies discussed tougher sanctions against Russia's banking sector, central bank, and energy industry.
Polish truckers plan to restrict freight traffic at the Yahodyn-Dorohusk checkpoint on the Ukrainian border, Ukraine's State Border Guard said on May 12.
The EU plans to unveil on May 14 its next package of sanctions imposed against Russia over its aggression against Ukraine, an EU official told the Kyiv Independent on condition of anonymity.
The sanctioned oil tankers have transported over $24 billion in cargo since 2024, according to Downing Street. The U.K. has now sanctioned more shadow fleet vessels than any other country.
Washington’s involvement may also help mitigate political opposition in Europe, while giving the U.S. strategic visibility over future Russian energy flows, sources told Reuters.
This is the fourth such tranche from the bloc, which is secured by proceeds from frozen Russian assets.
If Ukraine’s military resistance to Russia’s full-scale invasion stunned the world, its economic resilience in the face of a larger, better-equipped enemy is a lesser-known story of the war. A combination of rapid state expansion, prudent monetary policy, active civil society in Ukraine, and crucial external funding from
Ukraine is considering moving away from the U.S. dollar and closer to the euro as a benchmark for the hryvnia, National Bank Governor Andrii Pyshnyi told Reuters.
Editor’s note: This is issue 24 of Ukrainian lawmaker Yaroslav Zhelezniak’s weekly "Ukraine Reforms Tracker" covering events from April 28–May 4, 2025. 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 the May 6, 2025 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. As I’m sure you saw, the U.S. and Ukraine finally signed the minerals agreement after months
Construction of the pipeline was scheduled to begin in 2024, but has been plagued with construction issues and diplomatic tussles.
BRUSSELS — After years of reducing its reliance on Russian gas, the European Union is moving to turn off the taps completely within the next two years. The European Commission (EC) on May 6 presented a detailed roadmap to fully sever the European Union’s energy dependence on Russia by 2027.
Trump said that Russia has grown more willing to negotiate an end to its war against Ukraine following a sharp decline in oil prices.
MPs will be able to ask questions and learn more about the details of the agreement in meetings with Economy Minister Yulia Svyrydenko May 6-7, MP Serhii Sobolev told the news outlet Suspilne. The ratification vote is scheduled for May 8.
The move represents an apparent violation of United Nations Security Council resolutions passed in the wake of North Korea's intercontinental ballistic missile (ICBM) tests.
"So this economic partnership deal in itself is a very important part of the broader security... architecture... frankly, that fund will be successful if Ukraine is stable and peaceful. So in a way, it's an important part of... future security guarantees," Ukraine's ambassador to the U.S., Oksana Markarova, said.
OPEC+, which includes Russia, agreed to a large oil production hike in June, Reuters reported on May 4, citing five unnamed sources.
The French-made precision bombs are being transferred to Kyiv as part of ongoing defense support, and their use by Ukrainian fighter jets has grown significantly since the start of Russia’s full-scale invasion.
The Kyiv Independent’s Business Desk covers the biggest news in business, economics, and tech from Ukraine, as well as global developments that shape the economy of the region.
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