Euroclear to send 2-billion-euro tranche of Russian assets profits for Kyiv
Belgian clearing house Euroclear said in a statement on Feb. 5 that the second payment is expected to be made in March and should amount to approximately 2 billion euros.
Business
DVL Group, owner of Ukraine’s third-largest mobile operator Lifecell, plans to cut 15% of IT staff following merger
Ukraine's newly formed telecommunications company DVL Group is planning to cut 15% of its IT department due to business consolidation and optimization, the company told Economichna Pravda.
Ferrexpo's Ukraine subsidiary hit with $3.8 billion civil claim
The Ukrainian subsidiary Poltava Mining (FPM) of London-listed Ferrexpo said a civil claim for Hr 157 billion ($3.78 billion) was filed against it over illegal mining in Ukraine and the sale of waste products.
Ukraine’s steel sector looks abroad after loss of critical Donbas coal mine
Ukraine’s steel producers are now looking abroad to stay alive after the closure of the country's last operating coking coal mine in Pokrovsk last month. Miners were working up until Jan. 13 when the Metinvest Group, the mine’s owner, halted production completely and evacuated employees as Russian troops
Ukraine offering gas storage facilities for US LNG to boost Europe's energy security
"The presence of big business from our closest allies, particularly the United States, in this area is an important element of security and economic stability guarantees," Ukraine's Foreign Minister Andrii Sybiha said.
Trump wants $500 billion of Ukraine’s ‘rare earths’ — What are these critical minerals?
President Donald Trump declared on Feb. 3 that he was looking to "do a deal with Ukraine" by giving the war-torn country weapons and aid in return for its "rare earths." "They're going to secure what we're giving them with their rare earths and other things," Trump told reporters in
US producers, Saudi Arabia resist Trump's push for increased oil production, WSJ reports
Trump has repeatedly called for lower oil prices, arguing that reducing Russia's oil revenue would force Moscow to end its war against Ukraine.
Emergency power shutdowns introduced in 8 oblasts due to Russian attacks
Emergency power shutdowns were introduced in eight Ukrainian oblasts due to higher consumption and Russian attacks on the country's energy system, Ukrenergo, Ukraine's state grid operator, reported on Feb. 4.
Raiffeisen Bank reports first loss in 9 years after Russian court ruling, Bloomberg reports
The Austrian lender reported a net loss of 926 million euros ($955 million) in the fourth quarter of 2024, primarily due to provisions in its Russian subsidiary.
Yanukovych's son made billions selling coal from occupied Ukrainian territories, media reports
The company behind the exports, Energoresurs, is registered in Rostov-on-Don, Russia, and has exported nearly half a million tons of coal abroad between 2023 and 2024. According to the investigation, the firm sources coal from suppliers in occupied Donbas and transports it to Turkey by rail and sea.
EU allocates $258 million in energy support for Moldova, $62 million for Transnistria
The European Commission and Moldova signed a two-year strategy for energy independence and resilience, allocating 250 million euros ($258 million) to Chisinau in 2025, the commission said on Feb. 4.
What to expect from Ukraine’s defense innovation in 2025
Despite the uncertainty surrounding a potential resolution to the war, Ukrainians know one thing for sure: we must ramp up our defense capabilities to effectively defend against current and future Russian aggression. This requires the rapid development of asymmetrical solutions to counter Russia's advantages in personnel, material, and financial resources.
Ukraine announces privatization auction of country’s largest electromagnetic switch manufacturer
The auction, which is for a 100% stake in the plant, will be held on Feb. 4. Its starting price is Hr 234.4 million ($5.6 million), which includes debts for the last six months.
Ukrainian bakery Lviv Croissants opens first French location in Cannes
Ukrainian cafe chain Lviv Croissants opened its first restaurant in Cannes, France, making it the fifth country outside of Ukraine where it now operates, the company said in a press release on Feb. 3.
‘We are where we're needed:’ The local entrepreneurs, businesses who stay in front-line Donetsk Oblast
DRUZHKIVKA, Donetsk Oblast — A loud explosion goes off, followed by a second. People begin to run in different directions. Despite the chaos, taxi driver Serhiy Pohrebnyakov sits calmly behind the wheel, waiting for customers. Pohrebnyakov’s wife and daughter fled Druzhkivka after the start of the full-scale invasion, leaving him
Raiffeisen Bank cooperates with companies supplying Russian army, Bloomberg reports
In 2023, the Russian branch of Raiffeisen Bank earned over $1 billion in the first three quarters, which accounted for about 50% of the group's total profit. The bank also paid 277 million euros ($284 million) in taxes to Russia over the same period, Bloomberg reported.
Ukraine needs more than a leadership shake-up to fight financial crime
The recent shake-up at the State Financial Monitoring Service of Ukraine (SFMS), responsible for combating money laundering and terrorist financing, has drawn mixed reactions. Some see it as a step toward fighting corruption and financial crime, while others view the changes with caution, uncertain about the motivations behind the overhaul.
The week ahead: Key developments impacting global politics & markets
Editor's note: This article is an on-site version of KI Insights' The Week Ahead newsletter covering events from Feb. 3-Feb. 9. Sign up here to start your week with an agenda of Ukraine-related events, delivered directly to your inbox every Sunday. On Feb. 3-8, Washington will host the 4th annual
Trump launches trade war with steep tariffs on China, Canada, Mexico
Trump placed 25% tariffs on Mexican and Canadian goods, with only a 10% tariff on Canadian energy imports. He also imposed a 10% tariff on goods from China.
Shifting Sands: Trump’s Peace Proposal for Ukraine and Russia
Update: Briefing slides can now be accessed here. KI Insights subscribers can also access the recording. Join our exclusive KI Insights Monthly Briefing to gain critical perspectives on the prospects of a peace process in Ukraine under the new US administration. We will analyze the various involved stakeholders and their
Ukraine's unlikely ally against Russian attacks on energy sector — warm weather
Nearly three years into the war, Ukrainians have grown used to bracing for brutal winters with electricity blackouts and heating cuts from Russian attacks on the country’s energy infrastructure. This winter was predicted to be one of the toughest ones of the war yet. In a worst-case scenario, blackouts
Ukraine’s inflation set to peak by mid-2025, cool to 8% by year-end, central bank says
Ukraine’s inflation rate is expected to peak at 15% by mid-2025 before dropping to 8.4% by year's end, Ukraine’s Central Bank said on Jan. 31.
Putin clears Goldman Sachs' exit from Russia with sale to Armenia-based firm
Goldman Sachs has entered into a binding agreement to offload its Russian subsidiary, making it one of the few Western banks to exit the country entirely, Bloomberg reported.
'100% tariffs' — Trump vows trade war if BRICS replaces dollar as reserve currency
The BRICS group, composed of Russia, China, India, Brazil, and other nations, has been exploring ways to reduce reliance on the U.S. dollar.
Ukraine Business Roundup — Record wartime private sector investment
The following is the Jan. 29, 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. Ukraine's largest private energy company, DTEK, announced plans on Jan. 22 to invest 450 million euros ($468 million)
China is Russia's sole supplier of key military-use rare metals amid sanctions, RFE/RL reports
As Russia's options to purchase gallium and germanium from around the world almost disappeared, China became the sole supplier in 2023, the investigation said, citing leaked data from Russian customs databases.
EU denies any links between Russian gas purchases, Ukraine peace talks
Earlier the same day, the Financial Times (FT) reported that EU officials are discussing the possibility of resuming purchases of Russian gas as part of a potential settlement of Russia's war in Ukraine.
Oil shipments on pause at Russia's Ust-Luga port after drone strike, Bloomberg reports
A drop in shipping activity at the Baltic Sea port appears to back up the SBU's claims that Ukrainian drones struck the Andreapol oil pumping station, shutting down the main pipeline that feeds Ust-Luga.
Ukrainian defense tech company Huless raises over $1 million for tethered drone systems
Huless, a Ukrainian company developing tethered drone systems, secured over $1 million in private financing, loans, and a grant from Ukrainian Defense Tech cluster Brave1, the company said in a press release on Jan. 30.
How two female entrepreneurs from Ukraine are reshaping the fashion industry
Editor’s note: This article is part of a series of profiles highlighting successful Ukrainian startups and businesses. The series is funded by the regional investment fund Ukraine-Moldova American Enterprise Fund (UMAEF) and created in partnership with Spend With Ukraine, a non-profit organization that launched a platform to showcase businesses
Ukraine’s parcel delivery giant Nova Poshta invests $43 million to expand network in 2024
Ukraine's largest private delivery company Nova Poshta invested Hr 1.8 billion ($43 million) to expand its Ukrainian network in 2024, a 35% increase from 2023, the company announced on social media.
Russian oligarch held stake in Musk's SpaceX through trust despite sanctions, Bloomberg reports
Kerimov's investment in SpaceX reportedly began in 2017 through Heritage Trust, a financial structure managed by Citigroup. SpaceX was valued at $21 billion at the time, meaning his 1% stake could have been worth around $210 million.
Business
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