Russian cargo ship Ursa Major sinks in Mediterranean after explosion
According to reports, 14 crew members were rescued, and two remain missing.
Business
Ukraine to prohibit withdrawal of foreign issuer securities amid efforts to curb bypasses to currency restrictions
Ukraine's National Securities and Stock Market Commission announced on Dec. 23 that it will prohibit the withdrawal of foreign issuer securities, with the ban taking effect on Jan. 1.
Moldova prepares for harsh winter, as Russian-occupied part of country runs out of gas
Moldova enacted a state of emergency, as the country gears up for an energy crisis at the start of 2025 following the end of Ukraine's obligations to transport Russian gas through its territory. Moldova, and especially the country's breakaway region of Transnistria, will be hit the hardest following the end
2025 – A Turning Point for Ukraine
Editor's note: This article is a special edition of the KI Insights' The Week Ahead newsletter, looking at challenges and opportunities facing Ukraine in 2025. 2025 is gearing up to be a decisive year for Ukraine. The country’s leadership will need to navigate a turbulent international landscape, as well
BMW dismisses employees involved in scheme to illegally deliver cars to Russia
BMW discovered irregularities that allowed cars to be transferred to Russia from its branch in Hanover, the German automaker said on Dec. 22.
Putin, Slovak PM discuss gas transit, standardizing 'mutual relations,' Fico says after Kremlin meeting
"In a long conversation ... Putin and I exchanged views on the military situation in Ukraine, the possibilities of an early peaceful end to the war, and on mutual relations between the Slovak Republic and the Russian Federation, which I intend to standardize."
New IMF forecast predicts war in Ukraine ending in late 2025 or 2026
The International Monetary Fund’s (IMF) updated projections for Ukraine outline two scenarios regarding Russia’s ongoing war.
Slovak PM Robert Fico to visit Putin in Russia next week, Serbian president says
Serbian President Aleksandar Vucic said he had "learned unofficially" of the upcoming visit.
Orban says Hungary proposing ‘trick’ to keep Russian gas shipments via Ukraine
Ukraine has said it will not extend the transit agreement for Russian gas through its territory, set to expire on Dec. 31.
IMF approves $1.1 billion in funding for Ukraine
The IMF approved the $1.1 billion tranche after completing its sixth review of the Extended Fund Facility (EFF), a plan to provide Ukraine with over $15 billion in budget support over four years.
Ukraine begins receiving first funds covered by frozen Russian assets proceeds
Ukraine is already receiving U.S. funds under the framework of the G7's $50 billion loan covered by profits from frozen Russian assets, Prime Minister Denys Shmyhal said on Dec 20.
Ukraine won't extend Russian gas transit, Zelensky confirms
“We will not engage in extending the transit of Russian gas. We will not give (Russia) the opportunity to earn additional billions on our blood,” Zelensky said.
Ukraine's economy healthier than Russia's in some indicators, The Economist reports
Ukraine's economy has adapted itself well to the realities of the full-scale war while Russia's economy faces increasingly unfavorable forecasts, The Economist wrote on Dec. 19.
Russia building road to connect Crimea, Mariupol, with Russia's Rostov Oblast, Putin claims
Moscow has already built a 40-kilometer-long segment between the Russian city of Taganrog and occupied Mariupol in Donetsk Oblast, according to Russian President Vladimir Putin.
US reimposes sanctions on entities involved in Nord Stream 2 construction
"We’re going to continue to work and ensure that Russia is never able to weaponize its energy resources and its energy positioning for political gain again," U.S. State Department spokesperson Vedant Patel said.
Putin acknowledges sanctions have impact on Russia's economy
"The sanctions are having an effect, but they are not of key importance," Russian President Vladimir Putin said when talking about the surging inflation and prices in Russia.
World Bank approves over $2 billion in funds for Ukraine
The funding includes a $1 billion grant from the new $20 billion U.S. loan backed by frozen Russian assets. Another $1.05 billion is supported by the U.K. and Japan.
25% of Russian malls may face bankruptcy in 2025
Russian shopping centers have been hit hard by the departure of major foreign companies, rising operational costs, and increased competition from online marketplaces.
Slovak PM Robert Fico to discuss gas transit through Ukraine with EU chief
Slovakia currently imports 3 billion cubic meters of gas per year through Ukraine from Russia’s energy giant Gazprom.
Gazprom shares fall to 16-year low
Shares of Russian gas giant Gazprom fell to their lowest level since January 2009, The Moscow Times reported on Dec. 17.
Ukraine state-owned enterprises weekly — Issue 158
Editor’s Note: This is issue 158 of Ukrainian State-Owned Enterprises Weekly, covering events from Dec. 9-14, 2024. The Kyiv Independent is reposting it with permission. Corporate governance of SOEs The Cabinet of Ministers completes the composition of Ukrenergo’s new supervisory board. On Dec. 10, the Cabinet of Ministers
Ukraine Reforms Tracker Weekly — Issue 5
Editor’s note: This is issue 5 of Ukrainian lawmaker Yaroslav Zhelezniak’s weekly "Ukraine Reforms Tracker" covering events from Dec. 9-Dec. 15, 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
UK sanctions 20 Russian 'shadow fleet' tankers, announces financial aid to Ukraine
The United Kingdom sanctioned 20 vessels of Russia’s "shadow fleet" and pledged 35 million pounds ($44 million) in aid to repair Ukraine’s energy grid, the British government said on Dec. 17.
Slovak energy company, partners call for continued gas transit via Ukraine
Slovakia's state-owned energy company SPP and its partners in Hungary, Italy, and Austria called for continued gas transit through Ukraine in a declearation published on Dec. 17.
South Korea imposes new sanctions over Russia-North Korea cooperation
South Korea imposed sanctions on 11 individuals and 15 entities "engaged in illegal military cooperation between Russia and North Korea," the South Korean Foreign Ministry said in a statement on Dec. 17.
EU adopts 15th package of sanctions against Russia
The new listings include 54 persons and 30 entities "responsible for actions undermining or threatening the territorial integrity, sovereignty and independence of Ukraine."
The Week Ahead: Key Developments Impacting Global Politics & Markets
Editor's note: This article is a shortened on-site version of KI Insights' The Week Ahead newsletter covering events from Dec. 16 to Dec. 22. Sign up here to start your week with an agenda of Ukraine-related events, delivered directly to your inbox every Sunday. Central banks accounting for over 40%
Kyiv delayed minerals deal with US to let Trump take credit, NYT reports
Ukrainian authorities twice delayed signing the agreement, officials on both sides of the negotiations said. The delays offer the opportunity for Trump to claim an early victory at the start of his term.
Dutch Supreme Court dismisses Russia's appeal in Naftogaz's $5 billion arbitration case
The Supreme Court of the Netherlands has rejected Russia's appeal, upholding a decision by the Hague Arbitration Court requiring Russia to pay $5 billion in compensation to Ukraine’s state-owned Naftogaz for misappropriated assets in occupied Crimea, Naftogaz reported on Dec. 13.
Moldova announces state of emergency over expected halt of Russian gas
Moldova's parliament on Dec. 13 voted to introduce a 60-day-long state of emergency starting Dec. 16 over the expected halt of Russian gas transit via Ukraine.
Putin orders 'emergency support' for struggling Russian coal industry
Russian President Vladimir Putin has called for urgent measures to support the country’s coal companies, which face multibillion-dollar losses and risk mass bankruptcies, The Moscow Times reported on Dec. 12.
Google to suspend payments for Russian app developers, Russian IT portal claims
Google Play will indefinitely halt processing payments to app developers with bank accounts in Russia starting Dec. 26, Habr, a Russian IT portal, reported on Dec. 12.
Business
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