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cargo ship Algrace anchors on the Danube River near the port of Izmail, Odesa Oblast, Ukraine, on July 27, 2023
Business

Exclusive: Ukraine shipping giant is sinking amid allegations of mismanagement and corruption risks

by Luca Léry Moffat

Leaked internal documents obtained by the Kyiv Independent suggest one of Ukraine's largest state-owned shipping companies is being run into the ground and may be under the influence of external interests — offering a rare look at the governance failures that continue to plague the country's state-owned enterprises. In early May, the chairman of the Ukrainian Danube Shipping Company's (UDP) supervisory board sent a lengthy letter to Ukraine's parliament. In it, he sounds the alarm over a severe

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As Ukrainian drone strikes cripple Russia’s fuel supply, Moscow faces 'one crisis after another'

Russia's Lukoil-Nizhegorodnefteorgsintez refinery had just restarted operations when Ukrainian drones hit it again. The facility — the fourth-largest oil refinery and the second-largest producer of gasoline in the country — had been struck by Ukraine on June 24, forcing operations to shut down. On July 2, Ukrainian drones paid another visit, forcing the facility to shut down once again. Gazprom's Omsk Oil Refinery, in Omsk, approximately 2,445 kilometers (1,519 miles) from Ukrainian-controlled

People queue to refuel their cars at a Lukoil petrol station in Moscow, Russia, on June 30, 2026.

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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.

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