Ukraine, EU prolong transport visa-free regime until end of 2025
Transport visa-free regime is a part of Ukraine's sectoral integration into Europe and a prerequisite for our membership in the European Union," Prime Minister Denys Shmyhal said.
Business
Ukraine Reforms Tracker Weekly — Issue 20
Editor’s note: This is issue 20 of Ukrainian lawmaker Yaroslav Zhelezniak’s weekly "Ukraine Reforms Tracker" covering events from March 24–April 6, 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
Foreign companies funding Ukraine's army to face re-entry ban in Russia, media reports
Preliminary criteria say that foreign firms willing to return to Russia will not be allowed to do so if they have a "hostile position," finance Ukraine's Armed Forces, or are classified as "undesirable organizations" or "foreign agents."
US-Ukraine technical consultations on minerals deal to start on April 11, deputy PM says
Ukraine will begin technical consultations with the U.S. on the minerals agreement on April 11, Deputy Prime Minister for European and Euro-Atlantic Integration and Justice Minister Olha Stefanishyna said, as reported by Interfax-Ukraine on April 10.
Russia seeks sanctions relief, resource deal with US via negotiator Dmitriev, Zelensky says
"The scheme looks like it all leads to the unblocking of economic relations. They (Russia) want, for example, the lifting of sanctions against specific people who will be behind this or that direction, for example, Russian minerals, which they will offer them (the U.S.)," President Volodymyr Zelensky said.
Ukraine's PM urges EU to extend trade liberalization mechanism for Ukraine
The Autonomous Trade Measures were introduced by the European Union on June 4, 2022, to provide temporary tariff-free and quota-free access for Ukrainian goods.
Trump halts tariffs for 90 days on most countries, raises them for China
According to U.S. President Donald Trump, more than 75 countries have approached the U.S. to discuss trade, trade barriers and tariffs and have not retaliated against Washington.
Zelensky: Ukraine ready for minerals deal with US, but only on equal terms
The president stressed that Ukraine is ready to contribute its land and resources, but expects the U.S. to bring in technologies and capital.
EU set to greenlight first response to US tariffs
"The EU considers U.S. tariffs unjustified and damaging, causing economic harm to both sides, as well as the global economy," the statement read.
Revolut halts new customers in Ukraine after banking license dispute
Revolut, the London-based digital bank, has suspended registration of new customers in Ukraine, a company press office told The Kyiv Independent on April 9.
Ukraine ready to negotiate 'abolition of duties' on all US goods amid Trump's tariffs
"Our priority is the abolition of duties, not escalation," Deputy Economy Minister and Trade Representative Taras Kachka said.
EU transferring new $1-billion tranche for Ukraine covered by frozen Russian assets
"We are grateful to our partners for supporting the economy and the rapid recovery of our country," Prime Minister Denys Shmyhal said after meeting EU Economy Commissioner Valdis Dombrovskis in Brussels.
Trump didn't impose tariffs on Russia but they might be wrecking its economy regardless
U.S. President Donald Trump has inadvertently hit Russia’s economy after his "Liberation Day" tariffs caused oil prices to drop drastically on April 7, with potentially massive ramifications for the Kremlin's ability to fund its ongoing war in Ukraine. Russia has so far failed to agree to a full
Ukrainian steelmaker receives first batch of US coking coal after Pokrovsk mine halt
The U.S. supplies are meant to offset the loss of coking coal from the mine near Pokrovsk, which has suspended operations as Russian forces are closing in on the Donetsk Oblast town.
Ukraine's minerals deal position ready for talks with US, FM says
The minerals deal should be mutually beneficial, meet the interests of both countries without putting at risk Ukraine's accession to the EU, Foreign Minister Andrii Sybiha said.
Presidential candidate Victor Ponta vows to end Ukrainian grain exports via Romania if elected
"There has been a policy of favoring Ukrainian grain in terms of access to port facilities in recent years, at the detriment of Romanian grain, and Romanian farmers were greatly affected by it," Romanian presidential candidate Victor Ponta said.
Kremlin panics as Russian Urals crude oil price nears crucial $50 mark
Kremlin spokesperson Dmitry Peskov attributed the price decline to "the US decision to introduce tariffs for most countries in the world."
Mineral diplomacy or modern-day extortion in Ukraine?
Eleven years ago, Russia seized Ukrainian territory by force. Three years ago, Russia launched a full-scale invasion of Ukraine. Today, Ukraine faces a new threat to its sovereignty: U.S. President Donald Trump’s demand that the country hand over a significant amount of its mineral wealth or face the
Ferrexpo cuts pellet production by 26% after Ukraine suspends VAT refunds
Ferrexpo, the London-listed iron ore producer with significant operations in Ukraine, reported a 26% year-on-year decline in pellet production during the first quarter, attributing the drop to the suspension of value-added tax (VAT) refunds by Ukrainian authorities.
Russia excluded from US tariff list due to ongoing ceasefire negotiations, White House says
White House National Economic Council Director Kevin Hassett said on April 6 that Russia was excluded from the U.S. tariff list due to ongoing peace negotiations with Ukraine.
Minerals deal disrupted by those with 'their hand in the till,' US official claims
"It's a genuine economic partnership... we don't make any money unless they make money, and you know who doesn't like that? People with their hand in the till," U.S. Treasury Secretary Scott Bessent claimed in an interview released on April 4.
Germany finances Ukraine's use of Starlink alternative Eutelsat, Reuters reports
Eutelsat serves as an alternative to tech billionaire Elon Musk's Starlink, which has played a key role in Ukraine's battlefield communications.
Aging tanker loaded with Russian oil transferring cargo at sea after India ban, Reuters reports
The 20-year-old Andaman Skies was last week barred from entering the Indian port of Vadinar due to safety concerns over its seaworthiness.
Trump's tariffs may hit US defense production including F-35 fighter jet, air defense projects, Politico reports
The tariffs could undermine international defense cooperation by jeopardizing joint military projects, including producing the F-35 fighter jet, air defense systems, and constructing nuclear submarines.
US, Russia make 'significant progress' towards Ukraine ceasefire deal, Kremlin negotiator claims
American businesses are prepared to return to Russia and fill the vacancies left by European companies that withdrew after the full-scale invasion of Ukraine, Kirill Dmitriev said following talks with U.S. officials in Washington.
How Trump’s tariffs will impact Ukraine
U.S. President Donald Trump on April 2 unleashed what he has dubbed "Liberation Day," imposing tariffs on nearly every country in the world — including war-torn Ukraine. Kyiv got off lighter than most with only a 10% tariff on all Ukrainian goods, compared to 20% on the EU, and 54%
Russia's year-on-year oil, gas revenue drops by 17% in March
Russia's Finance Ministry said the government lost roughly 230 billion rubles ($2.7 billion) in tax income compared to March 2024, with oil and gas revenues accounting for one-third of the total state income.
Ukraine Business Roundup — The Black Sea ceasefire deal Ukraine doesn't need
The following is the April 1, 2025 edition of our Ukraine Business Roundup weekly newsletter. To get the biggest news in business and tech from Ukraine directly in your inbox, subscribe here. Washington proudly announced on March 25 that it had brokered an agreement between Russia and Ukraine to "eliminate
'Difficult, but not critical' — Ukraine's economy minister reacts to Trump's tariffs
Ukraine's exports to the U.S. in 2024 amounted to $874 million, including $363 million in cast iron and $112 million in pipes, Economy Minister Yuliia Svyrydenko said.
Russia, Belarus excluded from Trump's sweeping tariffs due to existing sanctions, White House says
White House spokesperson Karoline Leavitt said that Russia and Belarus were left off the list because of the already imposed economic sanctions.
Ukraine facing $10 billion deficit for reconstruction in 2025
According to Prime Minister Denys Shmyhal, international donors have allocated nearly $7.4 billion for "priority recovery projects" in 2025, leaving a nearly $10 billion deficit to finance reconstruction projects in 2025.
Ukraine to receive $432 million from World Bank towards transport infrastructure restoration
The DRIVE project will provide funding for the "extensive repairs of roads and bridges in 19 regions, reform of national roads, installation of modular bridges and technical assistance," Prime Minister Denys Shmyhal said on X on April 2.
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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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