Trump's team prepares economic options against Russia, Bloomberg reports
The sources told Bloomberg that U.S. President Donald Trump is yet to make a decision, as diplomatic efforts to end the war are still underway.
Economy
Ukraine Business Roundup — How Russia steals Ukrainian coal
The following is the April 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. The following is an excerpt from our latest investigation by investigative reporter Alisa Yurchenko. On March 29, the
Ukraine ready to sign minerals deal with US on April 30, source in President's Office confirms
According to the source, the final version of the deal includes a 50-50 investment structure between the two countries and contains "a lot of good details."
Ukraine to receive over $39 billion in budget support from international partners this year, Shmyhal says
Ukraine expects to receive over $39 billion in confirmed budget support from international partners in 2025, Prime Minister Denys Shmyhal said on April 25.
EU to unveil roadmap in May to end reliance on Russian fossil fuels
European Commission President Von der Leyen emphasized that the roadmap, set to be announced in two weeks, will lay out concrete steps to eliminate the bloc’s reliance on energy supplies from Russia.
Ukraine fails to reach deal on restructuring $2.6 billion debt, faces default
This poses a risk that Kyiv might have to default on the payment of some $600 million ahead of the deadline in late May.
Ukraine Reforms Tracker Weekly — Issue 22
Editor’s note: This is issue 22 of Ukrainian lawmaker Yaroslav Zhelezniak’s weekly "Ukraine Reforms Tracker" covering events from April 14–20, 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 and
Ukraine Business Roundup — The mining company losing faith in Trump's minerals deal
The following is the April 22, 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. As a U.S.-proposed deal for Ukraine’s natural resources stalled amid months of tense negotiations, some
Russian car market faces 50% drop in demand, CEO warns
Maxim Sokolov, the chief executive of Russia's largest state-owned car manufacturing company, said that AvtoVaz itself is expecting a 33% year-on-year drop in Lada car sales in April.
Japan signs deal on $3 billion for Ukraine under G7 loan
Japan's funds will be disbursed over 30 years and directed toward budgetary needs and to support reconstruction and development.
US, Ukraine sign memorandum on minerals deal, Deputy PM says
"It is important that we reaffirm through our agreements the desire of the American people to invest together with the Ukrainian people in a free, sovereign, and secure Ukraine," Deputy Prime Minister and Economic Minister Yuliia Svyrydenko said.
Ukraine's central bank leaves key policy rate unchanged at 15.5%
"Considering the high level of uncertainty, which has only increased over past months, the NBU will respond flexibly to changes in the balance of risks to the price dynamics and inflation expectations," the central bank's statement read.
Ukraine Business Roundup — Minerals deal saga continues
The following is the April 16, 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. If you’re getting tired of the constant back and forth of the minerals deal, so am I,
US softens demands on Ukraine minerals deal after Washington talks, Bloomberg reports
The Trump administration has reportedly lowered the payback it seeks under a minerals agreement with Ukraine from $300 billion to $100 billion.
Ukraine Reforms Tracker Weekly — Issue 21
Editor’s note: This is issue 21 of Ukrainian lawmaker Yaroslav Zhelezniak’s weekly "Ukraine Reforms Tracker" covering events from April 7–13, 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 and
Ukraine Business Roundup — Tariff war
The following is the April 9, 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. President Trump shocked the world on April 2 when he announced what he dubbed “Liberation Day,” slapping tariffs
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
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.
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.
EU farmers warn Russian fertiliser ban risks price surge, AFP reports
The European Commission aims to halt imports from Russia and Belarus—totaling 3.6 million tonnes valued at $1.41 billion (1.28 billion euros) in 2023—to limit revenue flowing to Moscow's war effort.
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.
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.
Ukraine received new minerals deal draft on March 28, talks with US ongoing, FM confirms
"Ukraine was ready to sign the previously developed framework agreement. Now we have received a proposal for development and a new text of the agreement," Foreign Minister Andrii Sybiha said on April 1.
Ukraine receives $400 million tranche from IMF
The funds represent the latest tranche of the Extended Fund Facility (EFF) program, which will provide Kyiv with $15.6 billion in budget support over four years. With the additional $400 million in funding, the program has now distributed $10.1 billion in financing to Ukraine.
US, Russia begin talks on rare earth minerals projects, Moscow claims
"Rare earth metals are an important area for cooperation, and, of course, we have begun discussions about various rare earth metals and projects in Russia," said Kirill Dmitriev, head of the Russian Direct Investment Fund.
Ukraine to request changes to new minerals deal, Bloomberg reports
Ukraine will be seeking for the U.S. to commit to more U.S. investment and clarify how a reconstruction fund would operate, a person familiar with the matter said.
Ukraine Business Roundup — More wartime M&A deals
The following is the March 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. Ukraine’s largest telecom operator, Kyivstar, signed an agreement to acquire Uklon, a leading ride-hailing and delivery platform
Ukraine’s Economy
Russia’s 10-year war of aggression against Ukraine has caused widespread and long-lasting damage to the country’s economy. Positive growth predictions were squashed following Russia’s annexation of Crimea and invasion of Ukraine’s eastern Donbas region in 2014. Then came Russia’s full-scale invasion in February 2022, wreaking havoc on an economy that had just started to recover following the Covid-19 pandemic. The country’s financial sector and economy have proved resilient throughout Russia’s full-scale invasion, bouncing back in 2023, although the economy is still around a third smaller than its pre-war level.
Learn more about Ukraine’s Economy
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