Cyrpus has stripped Ihor Kolomoisky's Cyrpus citizenship after concluding that the notorious Ukrainian oligarch had withheld vital information related to criminal charges he faces, Philenews reported.
Ukraine already produces its own 155 mm artillery ammunition, said Oleksandr Kamyshin, newly appointed advisor to the President of Ukraine on strategic issues.
Ukraine placed sanctions on Russia’s Lukoil, blocking the company from transiting oil through Ukraine to Hungary and Slovakia. This move heightened tensions as Hungary accused Ukraine of endangering its energy independence.
Russia managed to import aircraft tires worth $30 million from Western and other foreign manufacturers last year despite sanctions, The Guardian reported on Sept. 12, citing a report from a Ukrainian agency it had obtained.
Spain prevented Hungary from buying Talgo, a Madrid-based train manufacturer, due to its potential usefulness for Ukraine's reconstruction, the Financial Times reported on Sept. 12, citing undisclosed officials.
French billionaire Xavier Niel’s investment company NJJ Capital on Sept. 9 closed a deal to merge two telecoms companies in Ukraine, marking one of the largest M&A deals in independent Ukraine’s history. Who’d he buy? Niel acquired Lifecell, the country’s third-largest mobile operator, and Datagroup-Volia,
Europe is "fully committed" to phasing out Russian gas and is "ready to live without this Russian gas coming from the Ukrainian transit route," EU Energy Commissioner Kadri Simson said on Sept. 11.
The U.K. has sanctioned 10 Russian vessels that are part of the "shadow fleet" of ships that transport Russian oil around the world, the U.K. Foreign Office announced on Sept. 11.
Russian oligarchs Gennady Timchenko and Mikhail Fridman and Russia's National Settlement Depository on Sept. 11 lost their appeal against EU sanctions imposed against them.
Russia’s full-scale invasion of Ukraine in February 2022 has led to a resurgence in state predation against businesses, now approaching pre-EuroMaidan levels. This issue cannot be postponed until after the war. Politicized, predatory actions by law enforcement agencies against both domestic and foreign businesses pose a significant threat to
The IMF team led by Gavin Gray held week-long negotiations with the Ukrainian authorities in Kyiv on the fifth review of the country's 4-year Extended Fund Facility (EFF) program. The EFF is a four-year funding agreement that will allow Ukraine to access $15.6 billion in financial aid in regular installments.
Editor’s Note: This is issue 146 of Ukrainian State-Owned Enterprises Weekly, covering events from Sept. 1-7, 2024. The Kyiv Independent is reposting it with permission. Corporate governance of SOEs Ukrenergo’s supervisory board dismisses CEO Kudrytskyi despite objections of international partners; two independent board members step down due to
Editor’s note: This is issue 72 of Ukrainian lawmaker Yaroslav Zhelezniak’s weekly “Ukrainian Economy in Brief” newsletter, covering events from Sept. 2- Sept. 8, 2024. The digest highlights steps taken in the Ukrainian parliament related to business, economics, and international financial programs. The Kyiv Independent is republishing with
Ahead of the coming winter, Ukraine has protected 85% of its energy infrastructure in anticipation of further Russian attacks, Prime Minister Denys Shmyhal said at a Sept. 10 press conference attended by a Kyiv Independent reporter.
The older vessels, which are also poorly maintained, have undeclared owners and questionable insurance, make up the majority of Russian oil transportation due to Western sanctions, according to Bloomberg.
Maxwell Kushnir is a research analyst at the IMF. The contents of this article do not represent the views of any entity associated with the IMF, including staff, management or members of the Executive Board. Only publicly available data is used. Russia’s invasion has caused untold devastation across Ukraine,
French billionaire Xavier Niel’s investment company NJJ Capital has closed the deal on acquiring Lifecell, one of Ukraine's largest mobile operators, and Datagroup-Volia, one of Ukraine's largest fixed telecom and pay-TV providers.
Ukraine’s low-budget tech wizardry has stunned Western audiences since the war’s outset. Soldiers operating out of front-line garages have modified donated artillery, rehabbed captured weapons, amped up off-the-shelf drones, and coded software to streamline it all. Given all the attention, a number of enterprising Ukrainians have turned their
Ukrainian banks continue posting record profits, earning nearly Hr 120 billion ($2.9 billion) in the first seven months of 2024. The result is 22% higher than the same period last year, analytics website Opendatabot reported. As the Kyiv Independent previously reported, Ukrainian banks are enjoying an influx of cash,
Ukraine is grateful for air defenses provided by its partners, but they are still "not enough to secure our entire territory and repel every Russian attack," President Volodymyr Zelensky said during his visit to Italy on Sept. 6.
Negotiations are underway between Azerbaijan and the EU, Moscow, and Kyiv on supplying natural gas to Europe via Ukraine, Azerbaijani President Ilham Aliyev said on Sept. 6 at the Cernobbio Forum in Italy
The EU is providing Ukraine with a $44 million (40 million euro) humanitarian aid package to assist with energy repair works ahead of winter, European Commission President Ursula von der Leyen announced on Sept. 6.
Arctic LNG 2 was envisaged as Russia's largest LNG plant and a flagship project that was supposed to help the country become the world's leading LNG producer.
Editor’s Note: This is issue 145 of Ukrainian State-Owned Enterprises Weekly, covering events from Aug. 25-31, 2024. The Kyiv Independent is reposting it with permission. This newsletter was originally published before the news that state energy grid operator CEO Volodymyr Kudrytskyi was dismissed on Sept. 3 amid a wide-scale
According to the Finance Ministry, the savings represent "one of the largest debt write-offs in recent sovereign debt restructurings."
Editor’s note: This is issue 71 of Ukrainian lawmaker Yaroslav Zhelezniak’s weekly “Ukrainian Economy in Brief” newsletter, covering events from Aug. 26- Sept. 1, 2024. The digest highlights steps taken in the Ukrainian parliament related to business, economics, and international financial programs. The Kyiv Independent is republishing with
The noise is deafening inside global steel giant ArcelorMittal’s plant in Kryvyi Rih in Dnipropetrovsk Oblast — Ukraine’s largest steel plant — but quiet compared to pre-war, business reporter Dominic Culverwell writes in his latest. Russia’s full-scale invasion has eaten away Ukraine’s metallurgy industry, with only six remaining
The denial came after Oleksandr Kharchenko, managing director of the Energy Industry Research Center, said in a post on Facebook there had been an accident at the plant, citing "two independent sources."
If the fifth review of revisions of the Extended Fund Facility (EFF) program is approved, Ukraine could receive an additional $1.1 billion disbursement.
The last IMF mission to Russia was in 2019, before the Covid-19 pandemic. "We were excluded from this process under pressure from our Western 'friends,' and there were no further missions in 2022-23," the IMF's Russian Executive Director Aleksei Mozhin said.
The controversial decision to dismiss the head of Ukraine’s state-owned energy grid operator has prompted resignations from two independent members of the company’s supervisory board and raised concerns from partners abroad. Volodymyr Kudrytskyi, who served as head of Ukrenergo since 2020, was dismissed on Sept. 2 on the
Via a post on Ukrenergo's Telegram account, Chairman of the supervisory board Daniel Dobenni, and supervisory board member Peder Andreasen, also said they were stepping down from their positions in protest of what they described as a "politically motivated" decision.
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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