The agreement, signed on April 30, establishes a joint investment fund between Kyiv and Washington and grants the U.S. special access to projects developing Ukraine's natural resources.
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.
The Atesh partisan group claims it disabled communication at several Russian military facilities when it allegedly destroyed equipment at a transformer substation in the village of Mogiltsy in Russia's Moscow Oblast.
Photo for illustrative purposes. The Russian oil tanker Crius waits for a cargo of oil in Ceuta, Spain, on March 5, 2023. (Antonio Sempere/Europa Press via Getty Images)
India's imports of Russian oil rose to a nine-month high after shipments from non-sanctioned tankers of the Russian Sovcomflot company resumed, Reuters reported on May 21, citing data from shipping and trade sources.
Indian buyers briefly stopped accepting shipments from Sovcomflot earlier this year after the U.S. designated the company and 14 of its tankers as in breach of sanctions.
India has become a key buyer of Russian oilafter Western trade restrictions, imposed over Russia's full-scale invasion of Ukraine, forced Moscow to pivot to other markets.
Reuters wrote that in the first month of the fiscal year 2024/25, Indian refineries imported almost 1.8 million barrels per day of Russian oil, an increase of about 8.2% compared to the previous month.
This further increased Russia's share in India's overall oil market, while imports from Iraq and Saudi Arabia dropped.
Bloomberg reported on May 21 that the Indian government made a rare request to its oil refiners and private processor Reliance Industries Ltd. to lock in at least a third of their contracted supply from Russia under a long-term deal.
New Delhi has maintained a vibrant economic partnership with Moscow amid the all-out war against Ukraine, much to the dismay of Western countries.
Martin Fornusek is a news editor at the Kyiv Independent. He has previously worked as a news content editor at the media company Newsmatics and is a contributor to Euromaidan Press. He was also volunteering as an editor and translator at the Czech-language version of Ukraïner. Martin studied at Masaryk University in Brno, Czechia, holding a bachelor's degree in security studies and history and a master's degree in conflict and democracy studies.
Igor Kossov
