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.
Economy
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.
Ukraine Business Roundup — EU gets tough on Russia’s shadow fleet
The following is the Dec. 18, 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. The Council of the EU adopted on Dec. 16 its 15th package of sanctions against Russia since the
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.
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
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%
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.
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.
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
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
US announces $20 billion loan for Ukraine as part of G7 initiative
The U.S. Treasury Department announced on Dec. 10 that it will provide $20 billion in loan assistance to Ukraine, marking its contribution to a broader $50 billion initiative supported by G7 countries.
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.
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.
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).
Ukraine state-owned enterprises weekly — Issue 156
Editor’s Note: This is issue 156 of Ukrainian State-Owned Enterprises Weekly, covering events from Nov. 25 – Dec. 1, 2024. The Kyiv Independent is reposting it with permission. Corporate governance of SOEs The Cabinet approves the state ownership policy, a key document for SOEs’ corporate governance. On Nov. 29, the
Ukraine Business Roundup — Historic tax increase signed 44 days late
The following is the Dec. 3, 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. President Volodymyr Zelensky finally signed into law a bill authorizing Ukraine’s first wartime tax increase on Nov.
Ukraine Reforms Tracker Weekly — Issue 3
Editor’s note: This is issue 3 of Ukrainian lawmaker Yaroslav Zhelezniak’s weekly "Ukraine Reforms Tracker" covering events from Nov. 24-Dec. 1, 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, EU sign agreement on up to 35 billion euro loan covered by Russian assets revenue
Ukraine's Finance Ministry and the EU signed a memorandum and an agreement to attract up to 35 billion euros ($36.7 billion) as part of the G7 loan, the ministry said on Dec. 4.
Over 2 million applications received on first day of new 'eSupport' financial aid program for citizens, Zelensky says
Ukraine’s new eSupport program received over 2.1 million applications on its first day of operation, including nearly half a million for children, President Volodymyr Zelensky announced on Dec. 1.
Ukraine receives $100 million loan for budget expenses from South Korea
In April of this year, Kyiv and Seoul signed an agreement enabling Ukraine to attract up to $2.1 billion in concessional loans over 2024-2029.
Ukraine state-owned enterprises weekly — Issue 155
Editor’s Note: This is issue 155 of Ukrainian State-Owned Enterprises Weekly, covering events from Nov. 18-24, 2024. The Kyiv Independent is reposting it with permission. Corporate governance of SOEs State 2025 budget projects Hr 66.01 billion ($1.6 billion) in SOE net profit and dividends. On Nov. 19,
Monthly inflation in Russia accelerates, hitting a record number in 2.5 years
According to the Federal State Statistics Service (RosStat), during the week of Nov. 19-25, the consumer price index increased by 0.36%, up 1.15% from the beginning of the month, and over 8% from the beginning of the year.
Ukraine Business Roundup — Israel wants Ukraine’s help countering drones
The following is the Nov. 26, 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. Our most-read article last week was a story about how after Israel repeatedly ignored Ukraine’s warnings and
Ukraine receives $4.8 billion from World Bank
Ukraine has received a $4.8 billion loan from the World Bank through the PEACE project, Prime Minister Denys Shymhal said on Nov. 27.
Russia's ruble sinks to 2022 March levels after US sanctions on Gazprombank
Russia’s ruble took a blow following the news of the U.S. imposing sanctions on 50 Russian banks, including Gazprombank, hitting 108 against the U.S. dollar during early morning trade on Nov. 27.
Ukraine Reforms Tracker Weekly — Issue 2
Editor’s note: This is issue 2 of Ukrainian lawmaker Yaroslav Zhelezniak’s weekly "Ukraine Reforms Tracker" covering events from Nov. 18-24, 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 programs.
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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