U.S. President Joe Biden will be passing around $3.8 billion in the so-called Presidential Drawdown Authority (PDA) to his successor — Donald Trump. On the campaign trail, Trump has repeatedly criticized the Biden administration for providing Ukraine with military assistance, including through military shipments using the PDA. Countering Trump's
Metinvest, Ukraine's largest steel producer, has suspended operations at the Pokrovsk coking coal mine in Donetsk Oblast due to worsening security conditions and power outages, the company announced on Jan. 14.
Sixty-five oil tankers paused operations in various places around the world following the recent U.S.-U.K. sanctions against Russia’s oil industry and shadow fleet, Reuters reported on Jan. 13, citing maritime tracking data.
President Volodymyr Zelensky signed a decree on Jan. 13 imposing new sanctions on the Russian financial sector. The sanctions target 140 distinct entities.
The Pokrovsk coal mine, one of the largest in Eastern Europe, is located 10 km (6 miles) west of Pokrovsk. The mine produces coal for coke production needed in steelmaking, which is Ukraine's second-largest export after agriculture.
Deputy Chairman of the Management Committee Elena Ilyukhina reportedly sent a letter to Gazprom CEO Alexey Miller, outlining the need for cost optimization due to "challenges facing the Gazprom Group."
The countries argue that a lower cap would further restrict Russia's ability to finance its war against Ukraine while avoiding significant disruptions to global oil markets.
Three sanctioned tankers carrying over 2 million barrels of Russian crude oil are floating off China's coast after they were hit by fresh U.S. sanctions last week, Bloomberg reported on Jan. 13.
Editor's note: This article is an on-site version of KI Insights' The Week Ahead newsletter covering events from Jan. 13 to Jan. 20. Sign up here to start your week with an agenda of Ukraine-related events, delivered directly to your inbox every Sunday. With 8 eight days left until the
The accelerated rate surpassed forecasts made by Ukraine's National Bank in November, which estimated that Ukraine would end 2024 at an annualized 9.7% inflation rate.
"The United States is taking sweeping action against Russia's key source of revenue for funding its brutal and illegal war against Ukraine," Treasury Secretary Janet Yellen said.
Ukraine’s decision to end the gas transit deal with Russian energy giant Gazprom has been hailed by President Volodymyr Zelensky as one of Moscow’s biggest defeats. "When (Russian President) Vladimir Putin was handed power in Russia over 25 years ago, the annual gas pumping through Ukraine to Europe
Editor’s note: This is issue 8 of Ukrainian lawmaker Yaroslav Zhelezniak’s weekly "Ukraine Reforms Tracker" covering events from Jan. 1–5, 2025. This newsletter was until recently titled “Ukrainian Economy in Brief." The digest highlights steps taken in the Ukrainian parliament related to business, economics, and international financial
Denmark has reserved 135 million euros ($139 million) for further purchases under the "Danish model," buying arms for Ukraine directly from Ukrainian arms manufacturers. Norway is expected to contribute another 43 million euros ($44 million) to this initiative.
A Californian court sentenced former FBI informant Alexander Smirnov, who falsely accused the Biden family of taking a bribe from a Ukrainian business, to six years in prison, CNN reported on Jan. 8.
Ex-President Petro Poroshenko and members of his European Solidarity opposition party submitted a bill on Jan. 7 banning the transit of Russian oil and gas through Ukraine's territory during martial law.
In early 2022, the Ukrainian team of an Austrian wood processing company held a meeting in a bomb shelter during an air raid alert. Despite a Russian strike nearby, their focus wasn't on relocation but on building a new logistics center in the country. A year later, their determination paid
The U.S.'s planned sanctions would aim at targeting tankers carrying Russian oil above the imposed price cap and individuals working in schemes to sell crude above the cap, Reuters reported.
Some 1,500 high-rise buildings in Transnistria are currently without heating and hot water, and nearly 72,000 homes are without gas.
Slovakia's state-controlled transmission system operator SEPS said it will continue supplying electricity to Ukraine as part of an emergency assistance contract.
Moldova had previously offered to assist the Russian-occupied region in securing gas via European platforms to mitigate the energy crisis. Transnistrian officials rejected the offer, saying they believe Gazprom will resume Russian gas supplies.
Ukraine, a global agricultural powerhouse, exported 78.3 million tons of products in 2024, including grains and sunflower seeds critical to markets across Africa and Asia.
The protest follows a series of demonstrations by Polish farmers against Ukrainian agricultural imports after the EU lifted tariffs on goods from Ukraine in 2022.
Editor’s Note: This is issue 159 of Ukrainian State-Owned Enterprises Weekly, covering events from Dec. 15-22, 2024. The Kyiv Independent is reposting it with permission. Corporate governance of SOEs Updated IMF Memorandum. On Dec. 20, the International Monetary Fund (IMF) published an updated Memorandum of Economic and Financial Policies
Editor’s note: This is issue 7 of Ukrainian lawmaker Yaroslav Zhelezniak’s weekly "Ukraine Reforms Tracker" covering events from Dec. 23-Dec. 31, 2024. This newsletter was until recently titled “Ukrainian Economy in Brief." The digest highlights steps taken in the Ukrainian parliament related to business, economics, and international financial
The rise in gas prices to 51 euros per megawatt-hour is the highest since October 2023.
Putin told the government and state-owned Sberbank to "ensure further cooperation with the People's Republic of China in technological research and development in the field of artificial intelligence."
Russian Gazprom's decision to halt gas supplies to Moldova resulted in a heating outage in the Russian-controlled region of Transnistria, prompting Chisinau to seek alternative sources of electricity.
European infrastructure allows for the flow of gas from other countries, a European Commission representative said.
This comes a month after President Volodymyr Zelensky signed off on a major tax increase bill on Nov. 28 in a bid to plug Ukraine’s budget deficit.
Ruslan Kravchenko, the governor of Kyiv Oblast, and Filip Pronin, the governor of Poltava Oblast, were dismissed on Dec. 30 and are expected to be appointed to new positions soon.
Ukraine will quadruple gas transit tariffs for its domestic customers starting Jan. 1 when a deal to transport Russian gas through Ukrainian pipes expires, the National Energy Regulatory Commission said during a meeting on Dec. 30.
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.
