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Exclusive: Ukraine shipping giant is sinking amid allegations of mismanagement and corruption risks

by Luca Léry MoffatJuly 8, 2026

Leaked internal documents obtained by the Kyiv Independent suggest one of Ukraine's largest state-owned shipping companies is being run into the ground and may be under the influence of external interests — offering a rare look at the governance failures that continue to plague the country's state-owned enterprises. In early May, the chairman of the Ukrainian Danube Shipping Company's (UDP) supervisory board sent a lengthy letter to Ukraine's parliament. In it, he sounds the alarm over a severe

Raid on leading drone company fuels fears of crackdown on Ukraine's defense tech sector

by Dominic CulverwellJuly 8, 2026

Andriy Pyshnyi, Ukraine Central Bank Governor in Kyiv, Ukraine, in a photograph posted on 4 June 4, 2026.

‘We created a unique system for the defense sector:’ Full interview with Ukraine's central bank governor

by Luca Léry MoffatJuly 3, 2026

Georgia's only oil refinery to stop processing Russian crude

by Abbey FenbertJuly 2, 2026

Boxes of Oreo in San Diego, California, U.S. on May 15, 2026.

'We pay taxes in Russia that helps war' — Oreo-maker's confession demands action on Russia remainers

by Bennett FreemanJuly 6, 2026

Russia allows lower-grade gasoline production as Ukrainian attacks choke fuel supply

by Abbey FenbertJuly 3, 2026

Russia's overnight attack destroys around 800,000 Ukrainian books

by Kate TsurkanJuly 2, 2026

Ukraine's Brave1 signs first major Western defense industry partnership with Airbus

by Luca Léry MoffatJuly 2, 2026

NewsLetters

News Feed

Wednesday, July 8

01:19 AM

Russian ballistic missiles rock Kyiv, fires break out, 2 injured

Two people were injured after Russia launched an overnight ballistic missile attack against Kyiv early on July 8, with explosions heard in the capital shortly before air raid alerts were activated, according to Kyiv Independent journalists on the ground.

04:19 AM

Ukrainian drones reportedly strike Russia's Saratov Oil Refinery, Tatarstan petrochemical plant

Ukrainian drones struck Russia's Saratov Oil Refinery and a petrochemical plant in Tatarstan overnight on July 8, monitoring channels reported.

Three large columns of smoke rise in the distance

06:23 AM

Trump claims Zelensky, Putin 'want to make a deal' after speaking to both leaders

"I had a very good talk with President Putin... We had a long talk yesterday. It lasted a long time. And I also spoke with President Zelensky right after that. I think they both want to make a deal. It's too bad it took so long. But I think there's something," Trump said.

12:01 AM

Raid on leading drone company fuels fears of crackdown on Ukraine's defense tech sector

Speaking at a press conference in Kyiv over 12 hours after the searches began, Oleksii Babenko, a young star in Ukraine's drone industry, said that Ukraine's State Bureau of Investigations had carried out 70 searches, including at Vyriy Industries facilities, contractors' premises, and the homes of his own family members.

Tuesday, July 7

11:17 PM

Ukraine war latest: 8 Russian shadow fleet tankers hit in Azov Sea, Ukraine's 'Madyar' says

Key developments on July 7: * 'Industrial scale results' — 8 Russian shadow fleet tankers hit in Azov Sea, Ukraine's 'Madyar' says * 2 defense industry enterprises hit in Russia's Bryansk Oblast, oil depot in Belgorod Oblast, General Staff says * Ukraine signs drone cooperation deals with 3 NATO countries * Canada pledges $900 million to Ukraine for vehicles and ammo, but no air defense Ukrainian long-range drone strikes hit eight Russian shadow fleet tankers in the Sea of Azov, Ukraine's

10:49 PM

IOC lifts Russian Olympic Committee suspension ahead of 2028 games

The Executive Board of the International Olympic Committee (IOC) has provisionally lifted the suspension of the Russian Olympic Committee (ROC), which had been in place since October 2023.

About Business

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.

March 2, 2026War has drained Ukraine’s workforce, but women and veterans are stepping in to fill the void

February 11, 2026What Ukraine's ballooning debt means for its economy, and future

February 10, 2026Ukraine moves its power grid underground to shield it from Russian attacks

Editors' Picks

'We have nothing to use' — Kyiv currently defenseless against Russia's ballistic missiles

Business news

Exclusive: Ukraine shipping giant is sinking amid allegations of mismanagement and corruption risks

Raid on leading drone company fuels fears of crackdown on Ukraine's defense tech sector

‘We created a unique system for the defense sector:’ Full interview with Ukraine's central bank governor

Georgia's only oil refinery to stop processing Russian crude

'We pay taxes in Russia that helps war' — Oreo-maker's confession demands action on Russia remainers

Russia allows lower-grade gasoline production as Ukrainian attacks choke fuel supply

Russia's overnight attack destroys around 800,000 Ukrainian books

Ukraine's Brave1 signs first major Western defense industry partnership with Airbus

More from Business

Ukraine to allow weapons exports for first time since start of full-scale war

Euroclear takes frozen assets dispute against Russia to court in Brussels

New EU steel quotas are a crippling hit to Ukraine's industry

Ukraine in talks with France on production licenses for SCALP missiles, defense minister says

Massive explosion in Monaco injures Ukrainian businessman and his family, media reports

Zelensky-Nawrocki feud fails to overshadow Ukraine’s biggest recovery conference yet

How Ukrainian and Belarusian entrepreneurs have set new standards in Warsaw’s café scene

Putin acknowledges gas station queues, fuel shortages amid Ukrainian strikes as Russia works to stabilize supply

NewsLetters

News Feed

Russian ballistic missiles rock Kyiv, fires break out, 2 injured

Ukrainian drones reportedly strike Russia's Saratov Oil Refinery, Tatarstan petrochemical plant

Trump claims Zelensky, Putin 'want to make a deal' after speaking to both leaders

Raid on leading drone company fuels fears of crackdown on Ukraine's defense tech sector

Ukraine war latest: 8 Russian shadow fleet tankers hit in Azov Sea, Ukraine's 'Madyar' says

IOC lifts Russian Olympic Committee suspension ahead of 2028 games

About Business

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For second time in 4 days, Russia targets Kyiv with mass missile attack, killing at least 26

'Industrial scale results' — 8 Russian shadow fleet tankers hit in Azov Sea, Ukraine's 'Madyar' says

UK intercepts Russian Bear-F aircraft after it buzzed carrier strike group in Norwegian Sea

Ukraine war latest: Zelensky calls Putin's Kostiantynivka bluff; Ukraine nearly doubles successful strikes behind Russian lines

The peace in Ukraine that worries NATO

Editors' Picks

'We have nothing to use' — Kyiv currently defenseless against Russia's ballistic missiles

Inside the Ukrainian military's fight to motivate new recruits

Southern Europe lays siege to newest EU sanctions package

'We know more is to come' — Pro-Ukrainians in Crimea greet strikes on Russian logistics