US Chamber of Commerce in Russia readies proposals on sanctions relief
The proposed recommendations focus on lifting restrictions on the aviation and banking industries, investments, and luxury goods shipments.
Business
Ukraine receives $970 million from UK under G7 loan covered by Russian assets
"The funds will go towards strengthening Ukraine's defense capabilities," Prime Minister Denys Shmyhal announced on March 7.
The Czech weapons giant replacing the Kalashnikov in Ukraine’s army
The Russian-made Kalashnikov still prevails as the main small arm in Ukraine’s military. A Czech weapons giant is setting up shop in Ukraine’s factories to change that. The Prague-domiciled conglomerate, Colt CZ, has set up assembly of its Bren 2 assault rifles inside Ukraine under the name “Sich”
Ukraine's central bank raises key policy rate to 15.5%, warns about foreign policy risks
The move marks the second raise of the key policy rate since the beginning of 2025. In late January, the central bank raised it from 13.5% to 14.5%.
Trump lifting US sanctions on Russia would be ‘huge win’ for Putin, ‘chaos’ for global economy
U.S. President Donald Trump’s administration is reportedly ready to lift sanctions on Russia imposed after the start of the full-scale invasion, in a reversal of U.S. policy toward Moscow during its war against Ukraine. The White House is preparing a plan to potentially give Russia sanctions relief
Ukraine Reforms Tracker Weekly — Issue 16
Editor’s note: This is issue 16 of Ukrainian lawmaker Yaroslav Zhelezniak’s weekly "Ukraine Reforms Tracker" covering events from Feb. 24–March 2, 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
Ukraine Business Roundup — Dark days for Ukraine
The following is the March 4, 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. This week’s newsletter was originally going to be about the Trump–JD Vance–President Volodymyr Zelensky clash
Russia's oil, gas budget revenue in February drops by 18% year-on-year
Oil and gas revenues last month amounted to 771.3 billion rubles ($8.6 billion), a significant drop from 945.6 billion rubles ($10.5 billion) in February 2024 and a moderate decrease in comparison to 789.1 billion rubles ($8.8 billion) in January.
Ukraine natural resources deal not ready as Trump seeks better terms, CBS News reports
The painstakingly negotiated deal was scheduled to be signed on Feb. 28, but that plan was derailed after a public clash between Trump and Zelensky, leaving the agreement's fate uncertain.
Eutelsat in talks to expand satellite services for Ukraine amid Starlink uncertainty, FT reports
Shares in Eutelsat surged as much as 123% to 4.50 euro before settling at a 70% gain, driven by investor confidence that European leaders will increase military support for Ukraine.
Ukraine’s DroneUA begins supplying robots to NASA
The company sees this partnership as an opportunity to strengthen Ukraine’s economy and expand its presence in global markets.
US, Ukraine plan to sign mineral deal on March 4, Reuters reports
The sources indicated that U.S. President Donald Trump plans to announce the agreement during his upcoming address to Congress.
Ukraine to boost gas imports due to Russian attacks on energy infrastructure, Bloomberg reports
Ukraine plans to import about 3.5 billion cubic meters of gas for the upcoming heating season due to ongoing Russian attacks on its energy infrastructure, Bloomberg reported on March 4.
Russian oil deliveries to Czech Republic via Druzhba pipeline suspended, Czech official says
"We control the situation and are prepared for such circumstances. Refineries in the Czech Republic are well prepared, and the state material reserve system is reliable, so I can assure everyone that there are enough oil reserves for both households and businesses," Czech Industry and Trade Minister Lukas Vlcek said.
Oil prices continue to decline amid growing tensions between US, Ukraine, Reuters reports
A day earlier, oil prices fell by about 2%, hitting a 12-week low.
Sanctions, shrinking exports spark crisis in Russia's coal industry, media reports
Financial troubles have forced eight coal companies in Russia's Kemerovo Oblast to halt operations, leaving hundreds of miners without pay for months, according to Governor Ilya Seredyuk.
Ukraine bonds drop sharply following Trump-Zelensky argument, Reuters reports
Ukraine's international bonds fell to their lowest point in over a month on March 3 after a heated exchange between Ukrainian President Volodymyr Zelensky and U.S. President Donald Trump last week, Reuters reported.
Fallout from the Zelensky-Trump meeting. What's next for Ukraine? – spot briefing by KI Insights
How will the latest high-level talks shape Ukraine’s trajectory? What are the key takeaways, and what should diplomats, humanitarians, and businesses anticipate in the coming weeks? Join KI Insights for an exclusive spot briefing this Thursday, where we will break down the fallout and help you navigate the fast-evolving
‘We need to get the U.S. back on track:’ Ukrainian businesses, economists react to mineral deal failure
An agreement on Ukraine’s natural resources collapsed after a heated argument in the Oval Office on Feb. 28 between Ukrainian President Volodymyr Zelensky and U.S. President Donald Trump and his Vice President JD Vance, casting doubt on the deal’s future. Following weeks of tough negotiations, Kyiv and
Putin ally pushing for US, Russia restart of Nord Stream 2, FT reports
Matthias Warnig, who led Nord Stream 2’s parent company on behalf of Kremlin-controlled gas giant Gazprom until 2023, is reportedly trying to establish contact with U.S. President Donald Trump's team through American businessmen.
Russia interested in lifting US sanctions against oligarchs, energy exports, Zelensky's adviser says
"Our understanding is that they are most concerned about two things. The first thing is those oligarchs who are under U.S., EU, and U.K. sanctions because this is a real problem for them. And the second thing is what prevents Russia from making money — energy (sanctions)," said Vladyslav Vlasiuk, the president's commissioner for sanctions.
Police raid Ukraine's 3 country's largest pharmaceutical plants, media reports
The police searched the offices and production facilities of Arterium Corporation, Farmak Joint Stock Company, and Darnytsia Pharmaceutical Company, Ukrainska Pravda's source claimed.
US-Ukraine framework deal on natural resources ready, treasury secretary says as Zelensky visits Washington
"President Zelensky is coming to sign the deal tomorrow... I'm sure President Zelensky and President Trump will have a wide-ranging discussion. But as far as the deal, it is complete, it is on paper," U.S. Treasury Secretary Scott Bessent said on Fox Business.
Turkish imports of Russian oil drop nearly fourfold after new sanctions
Turkish imports of Russian oil plummeted in February in response to sweeping sanctions the U.S. and U.K. imposed on Russia's oil sector in January.
EBRD lowers Ukraine’s 2025 growth forecast amid inflation, war impact
The European Bank for Reconstruction and Development (EBRD) has lowered its 2025 growth forecast for Ukraine’s economy, now expecting 3.5% growth instead of the previously projected 4.7%.
What the US-Ukraine mineral deal actually means
As Kyiv and Washington celebrate agreeing to jointly develop Ukraine’s natural resources after weeks of tense negotiations, the deal still has a long way to go before the money starts flowing. Officials, experts, and those close to the deal say the current version of the agreement is an improvement
Updated: Revolut denies operating in Ukraine without license after central bank's pushback
According to Ukrainian banking law, a foreign bank can only operate in Ukraine if it opens a local branch or obtains a banking license. This process must first be approved by the NBU, the bank said in the press release.
Ukraine Reforms Tracker Weekly — Issue 15
Editor’s note: This is issue 15 of Ukrainian lawmaker Yaroslav Zhelezniak’s weekly "Ukraine Reforms Tracker" covering events from Feb. 17–Feb. 23, 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
Ukraine Business Roundup — US, Ukraine agree on minerals deal
The following is the Feb. 25, 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. After weeks of back-and-forth, during which U.S. President Donald Trump lobbed insults at Ukrainian President Volodymyr Zelenksy,
Trump to announce 25% tariffs on EU 'very soon'
"We'll be announcing it very soon. It'll be 25% generally speaking, and that will be on cars and all other things," U.S. President Donald Trump said.
Australian philanthropists donate $3.15 million to Ukraine, urge governments to step up support
The package builds upon 20 million Australian dollars ($12.6 million) that the Australia-based charity, founded by Andrew and Nicola Forrest, has already provided for demining, food and energy security, and the protection of children.
Zelensky confirms upcoming meeting with Trump
"I will meet with President Trump," Zelensky said in his evening address on Feb. 26. "It is important for me and all of us in the world that America's assistance is not stopped."
Business
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.
Learn more about business in Ukraine:
(Updated: )
Most popular
Editors' Picks
'Don't come, there's nothing good here' — Chinese soldiers warn against following Russian propaganda to fight in Ukraine
4 things you need to know about Victoria Spartz, the Ukrainian-born US lawmaker
'Putin is pure evil' — Trump's spiritual advisor on Russia's war against Ukraine
