Not content with waging war inside Ukraine, Russia has now taken it into the virtual world
The new game is the first to focus on Russia’s war in Ukraine, featuring real battles and characters.
Business
Russia's war-fueled economy is running on empty, Central Bank chief warns
"We grew for two years at a fairly high pace because free resources were activated," Russia's Central Bank Governor Elvira Nabiullina said.
Ukraine Reforms Tracker Weekly — Issue 30
Editor’s note: This is issue 30 of Ukrainian lawmaker Yaroslav Zhelezniak’s weekly "Ukraine Reforms Tracker" covering events from June 9–June 15, 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
EU reportedly eyes riskier investments for frozen Russian assets to boost Ukraine aid
According to Politico, the proposed plan would redirect the frozen Russian assets into a special investment fund under EU control, allowing for higher returns without confiscating the principal.
Russia 'on the verge' of recession, Kremlin economy minister warns
"According to current business perceptions, we are already, it seems, on the verge of a transition to a recession," Russian Economy Minister Maxim Reshetnikov said at the St. Petersburg International Economic Forum.
For the first time, Australia sanctions Russian shadow fleet oil tankers
"Russia uses these vessels to circumvent international sanctions and sustain its illegal and immoral war against Ukraine," Australia's Foreign Ministry said in a statement.
After 3 years of full-scale war in Ukraine, Europe finally lays out road map to detox from Russian oil and gas
After three years of limited measures and political hangovers, the European Union has laid out a legal roadmap to finally end its long-standing addiction to Russian oil and gas. Under a new legislative proposal announced in Strasbourg on June 17, Brussels aims to cut off all remaining imports of Russian
Ukraine moves forward on lithium mining under US minerals deal, NYT reports
On June 16, the Ukrainian government reportedly agreed to begin drafting recommendations for a bidding process to develop the Dobra lithium field in central Ukraine.
Investing in wartime Ukraine requires ‘nuanced understanding of risk’ but worth it, says global trade expert
When John Denton first visited Ukraine weeks into Russia’s full-scale invasion in 2022, he knew that for the country to survive, businesses needed to stay alive. Denton is the secretary general of the International Chamber of Commerce, the world’s largest business organization. Active in 170 countries, the organization
Russian strike hit Boeing office in Kyiv in deliberate attack on US business, FT reports
“This is not just an attack against Ukraine, but also an attack where American business is being hit,” said Andy Hunder, President of the American Chamber of Commerce in Ukraine.
High stakes, low resolve: What Ukraine can expect from the upcoming G7 summit
As world leaders prepare to gather in the remote community of Kananaskis in Alberta, Canada for the Group of Seven (G7) Leaders' Summit on June 15-17, Russia's war in Ukraine once again holds center stage — but views on how to address the three-year conflict diverge sharply. In the five months
Ukraine receives 5th tranche of EU aid from frozen Russian assets, PM confirms
Ukraine has received another 1 billion euros ($1.1 billion) in macro-financial assistance from the European Union as part of a G7 loan, Prime Minister Denys Shmyhal announced on June 13.
Oil prices surge after Israeli strike on Iran
The price spike threatens to undermine Western efforts to choke off a vital revenue stream for Russia, which relies heavily on oil profits to sustain its war in Ukraine.
EU approves new tariffs on Russian, Belarusian agricultural goods
The measures target those goods that have not yet been subject to additional customs duties and will enter into force on July 1. The tariffs on fertilizers will increase gradually over the next three years.
EU, Germany boost Ukraine's energy efficiency fund with 18 million euros
The EU provided 13 million euros ($15 million) of the new funding, while Germany's International Climate Initiative (IKI) provided 5 million euros ($5.7 million).
Western firms reportedly paid at least $46 billion in taxes to Russia amid full-scale war in Ukraine
Seventeen of the 20 largest foreign corporate taxpayers in Russia come from G7 and EU countries, which are Ukraine's main international supporters, according to investigative outlet Follow the Money.
‘A blueprint’ — foreign investors, Ukrainian hotel chain create jobs for war displaced
In a luxurious resort complex north of Kyiv, 12 women are retraining to enter the hospitality sector in a new school that will kickstart a fresh life for Ukraine’s internally displaced people (IDPs). The women, mostly from Ukraine's occupied territories, are learning to be housekeepers in the first program
Ukraine Reforms Tracker Weekly — Issue 29
Editor’s note: This is issue 29 of Ukrainian lawmaker Yaroslav Zhelezniak’s weekly "Ukraine Reforms Tracker" covering events from June 2–June 8, 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
Trump offers Germany US gas deals, but no promises on Ukraine aid or Russia sanctions
When asked whether Trump would impose additional sanctions on Russia, the president dodged the question by boasting that he "ended Nord Stream 2" and hinting at future energy deals with Germany in a press conference with Chancellor Friedrich Merz.
EU tariffs on Ukrainian goods return after 3 years of war, complicating Kyiv's path to European integration
The European Union is set to reinstate tariffs on Ukrainian agricultural exports on June 6. This is the first time since Russia's full-scale invasion that the EU will not renew an agreement suspending trade barriers between Ukraine and Europe. The end of tariff-free trade comes amid mounting opposition to Ukrainian
In wartime Ukraine, a university grows — and reclaims a space once reserved for the corrupt
Once the playground of disgraced Ukrainian politicians, a golf club in Kyiv’s Soviet-era Obolon neighborhood is now set to become the new campus of the Kyiv School of Economics, which last month bought the site for $18 million as part of a $40 million investment — the largest private investment
Ukraine, US plan to launch minerals investment fund by year's end
"We discussed very concrete steps how to make this fund operational during this year," Ukrainian Economy Minister Yulia Svyrydenko said during a visit to Washington.
Ukraine Reforms Tracker Weekly — Issue 28
Editor’s note: This is issue 28 of Ukrainian lawmaker Yaroslav Zhelezniak’s weekly "Ukraine Reforms Tracker" covering events from May 26–June 1, 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 passes Budget Code changes to implement US mineral deal
The legislation, supported by 309 members of parliament, enshrines financial provisions critical to executing the U.S.-Ukraine deal signed on April 30 and ratified by Kyiv on May 8.
France, Belgium wary of EU's plan to halt Russian LNG imports by 2027
Russia's energy exports remain a major source of revenue for the Kremlin's military campaign against Ukraine.
Trump raises steel, aluminum tariffs to 50%, hitting key Ukrainian export
Steel production is one of Ukraine's core industrial sectors and its second-largest source of foreign currency after agriculture.
Ukraine defaults on GDP-linked sovereign debt payment
The country's Finance Ministry announced last week it would skip a $665 million government debt payment after failing to agree on restructuring terms with creditors.
DTEK to build one of Europe's largest energy storage facilities, company announces
Ukraine's largest private energy company DTEK secured a $72-million loan to build one of the largest battery energy storage complexes in Eastern Europe, the company said on June 3.
Russian central bank head under pressure to slash key interest rate, Bloomberg reports
The reason is the growing toll on the federal budget and civilian industries, three officials told Bloomberg, with some calling for the decision to be made at the bank's meeting on June 6.
OPEC+ extends oil output surge despite Russian pushback, Bloomberg reports
OPEC+ will boost oil production by 411,000 barrels per day in July, marking the third consecutive monthly increase and reinforcing a major strategic shift that has driven crude prices to a four-year low.
Ukraine to skip $665 million debt payment, Bloomberg reports
Ukraine will skip a $665 million government debt payment after failing to agree on restructuring terms with creditors, Bloomberg reported.
Ukraine Reforms Tracker Weekly — Issue 27
Editor’s note: This is issue 27 of Ukrainian lawmaker Yaroslav Zhelezniak’s weekly "Ukraine Reforms Tracker" covering events from May 19–May 25, 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
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