US announces over $440 million in economic aid for Ukraine
The economic aid package is comprised of four key parts, including $223 million to rebuild transportation, infrastructure, and logistics.
Business
Ukraine's largest steelmaker partially suspends operations at Pokrovsk coal mine
The closure comes amid an increasingly dangerous Russian advance towards Pokrovsk, where Ukraine has lost key positions in recent days.
EBRD co-launches $116 million guarantee for Ukraine war-risk insurance
The EBRD's new Ukraine Recovery and Reconstruction Guarantee Facility will initially help reinsurance companies cover risks connected to land-based transport, focusing on small and medium businesses.
Russia, India sign record oil supply deal, Reuters reports
Russian state-owned oil company Rosneft and Indian refining giant Reliance Industries have finalized a landmark agreement to supply 500,000 barrels of oil daily for the next 10 years, Reuters reported on Dec. 12.
Spend With Ukraine wants to ‘build a better brand’ for the country
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
Russia has built only 7 out of 108 planned airliners since 2022, BBC reports
Russia's Comprehensive Program for the Development of the Air Transport Industry until 2030 envisioned producing 1,032 passenger aircraft between 2022 and the end of the decade.
Ukrainian airline SkyUp launches flights from Moldova in April 2025
SkyUp chose the Chisinau Airport in Moldova as it is the closest international hub to Ukraine.
Ukraine's tax hike, G7 loan enough for planned defense expenses in 2025, Finance Ministry says
For the next year, Ukraine allocated 26.3% of its gross domestic product (GDP) to defense and security expenditures, including Hr 740 billion ($17.7 billion) for arms purchases and Hr 50 billion ($1.2 billion) on the production and purchase of drones.
Ukraine Business Roundup — Ukraine moves to replace Chinese drone parts
The following is the Dec. 10, 2024 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. It’s a persistent problem with the drone supply to Ukrainian troops: Imported Chinese drones are often laden
Police raid Ukrainian Railways over suspected criminal scheme
"The actions of the defendants led to significant losses and the creation of an artificial shortage of tickets for the most popular routes on the market," the police’s statement read.
US considering implementing harsher sanctions on Russian oil ahead of Trump's inauguration, Bloomberg reports
Although no concrete decisions have been made on the potential sanctions, sources familiar with the discussions told Bloomberg that a number of avenues are being explored, including sanctions on Russia's so-called 'shadow fleet.'
Ukraine state-owned enterprises weekly — Issue 157
Editor’s Note: This is issue 157 of Ukrainian State-Owned Enterprises Weekly, covering events from Dec. 2-8, 2024. The Kyiv Independent is reposting it with permission. Corporate governance of SOEs Parliament appoints Naftogaz’s CEO Chernyshov as national unity minister; CFO Chumak takes over as acting CEO. On Dec. 3,
Ukraine Reforms Tracker Weekly — Issue 4
Editor’s note: This is issue 4 of Ukrainian lawmaker Yaroslav Zhelezniak’s weekly "Ukraine Reforms Tracker" covering events from Dec. 2-Dec. 8, 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
Ukraine builds drone parts at home as China weaponizes supply chain
Some 25 miles south of Ukraine's border with Russia, explosions rumble off in the distance more or less continuously. “We don’t even hear them anymore,” Zhenya chuckles from under first-person-view (FPV) goggles branded with the U.S. company “Fat Shark.” Zhenya and his co-developer for DragoDrones, or DCU, Maksym,
Chinese exports to Russia decrease for first time in 4 months, Reuters reports
The decrease of 10.5% compared to November 2023 marks the first drop since July, Reuters writes.
China curbs sale of drone parts to US, Europe, hindering Ukraine’s war effort, Bloomberg reports
Chinese manufacturers began limiting their sales of vital drone components to their U.S. and European customers, preluding a broader ban on exports by officials, Bloomberg wrote, citing undisclosed sources on Dec. 9.
UK sanctions illicit gold trade, says it funds Russia's war
The latest round of sanctions imposes asset freezes on five individuals involved in the illicit gold trade, including the CEO of Paloma Precious, which has purchased more than $300 million of Russian gold.
Ukraine approves Droid TW robotics system for combat operation
The system was approved after performing reliably in combat testing, the Defense Ministry said on Dec. 9.
Ukrainian gift guide 2024
If you’re unsure what to get your loved one for a gift this holiday season, look no further than Ukraine. Despite Russia’s ongoing war, Ukrainians have maintained their entrepreneurial spirit, and the country is brimming with exciting brands and products that are guaranteed to bring cheer to the
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. 9 to Dec. 15. Sign up here to start your week with an agenda of Ukraine-related events, delivered directly to your inbox every Sunday. Romania's newly elected Parliament to set
5 high-end Ukrainian fashion brands you should know
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
Russia's Aeroflot airline acquiring old planes to scrap for parts amid sanctions
Russia's largest airline Aeroflot plans to purchase five Boeing 737-800BCF freighters to disassemble for spare parts, Russian state media outlet Kommersant reported on Dec. 6. The planes are expected to be transferred to Aeroflot's low-cost subsidiary Pobeda, but converting them from cargo to passenger use under Western sanctions would be
Russia’s foreign currency reserves fall to lowest levels since 2008 amid mounting deficits
To address its budget shortfall, Russia has also begun selling off gold reserves from the National Welfare Fund.
Ukrainian group in US opposes Starlink expansion due to Musk's Russia ties
The Ukrainian Congress Committee of America (UCCA) cited concerns over Musk's "contacts with Russia and the alleged use of his Starlink system by Russian forces in Ukraine."
Putin changes Russian gas payment laws after US sanctions Gazprombank
According to Putin's new law, gas purchases are no longer tied to Gazprombank and can be settled by offsetting mutual debts. The U.S. sanctioned Gazprombank on Nov. 21.
Owners, top managers of popular online casino in Ukraine suspected of collaborating with Russia
The beneficial owners and top managers of one of the most popular online casinos in Ukraine, Pin-Up, are suspected of collaborating with Russia, the State Bureau of Investigation and the Prosecutor General's Office announced on Dec. 5.
From Pyongyang to Kyiv: North Korea’s Growing Role in the Russo-Ukrainian War
New format at KI Insights — Q&A with experts! The first one is already next week. Join our exclusive Q&A session with Dr. Edward Howell to gain unique insights into Koreas' growing role in the Russo-Ukrainian War. This closed-door event is tailored for subscribers seeking an in-depth understanding of
Ukrainian publishing house Osnovy wants to 'fill gap caused by 70 years of Soviet rule'
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
Coffin prices in Russia have soared by 74% since start of full-scale invasion, media reports
The price of coffins in Russia has soared by 74% since the beginning of Russia's full-scale invasion of Ukraine, the Moscow Times reported on Dec. 5, citing Russia's Federal State Statistics Service (RosStat).
Hungary requests US sanctions exemption for Russian natural gas payments
Hungary has requested the United States to provide the country with a sanctions waiver to further continue payments for Russian natural gas imports through Gazprombank, Foreign Minister Peter Szijjarto said on Dec. 4.
84 arrested in UK-led crypto laundering investigation involving Russian oligarchs, spies
The United Kingdom's National Crime Agency (NCA) announced on Dec. 4 that it had dismantled a multibillion-dollar money laundering scheme that has enabled criminal networks, including Russian spies and oligarchs, to evade sanctions using cryptocurrency.
Ukrainian businesses increasingly look beyond diesel for backup power as blackouts begin again
As Ukraine begins yet another winter with rolling blackouts and freezing temperatures, businesses are increasingly looking beyond diesel generators to fuel their operations during power cuts, business leaders said at the Energy Security Dialogue 2024 on Dec. 4.
Business
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