Moscow's restrictions allow Russian authorities to seize and keep hard-to-get Western-sanctioned goods, which can then be used to manufacture weapons for the war against Ukraine.
The move follows U.S. President Donald Trump's decision to impose 25% tariffs on imported steel and aluminum, reigniting trade tensions between Washington and Brussels.
The statement, proposed during Ukraine’s Trade Policy Review, emphasized members' concerns surrounding the "consequences of (the war's) destruction for Ukraine and for global trade," while explicitly naming Russia as the aggressor.
Ukrainian and U.S. officials negotiated a mineral deal all night into the morning on Feb. 21 amid a rift between the two nations over the agreement, Axios reported.
The European Business Association (EBA) urged the Ukrainian government to declassify its information on mineral deposit data, in a statement on Feb. 13.
Agricultural trade between Ukraine and the EU reached $17 billion in 2024, exceeding the previous record of $16.5 billion in 2022 by 3%, the Kyiv-based research Institute of Agrarian Economics (IAE) reported.
Like people in other regions, Europeans face the challenge of discerning what motives underlie U.S. President Donald Trump’s verbal provocations. After all, what Trump really wants is often unclear, which makes it difficult to devise a strategically effective response. Traditionally, Europeans have interpreted American foreign policy through a
The fall of Syrian dictator Bashar al-Assad has dealt a significant blow to Russia’s ambitions in the Middle East. Yet Russia still retains influence across the region through trade, diplomacy, and military ties. Even now, Moscow maintains a presence in Syria, making it imperative for the West to capitalize
First Deputy Prime Minister and Economic Development Minister Yulia Svyrydenko said that the decision to impose tariffs will naturally affect Ukraine's steel industry.
The EU "should boost independence even further and end all Russian energy imports," Karis said on Feb. 9. "We should even seriously consider a full trade embargo on Russia."
French point man for foreign trade, Laurent Saint-Martin, came to Kyiv during a turbulent time. As U.S. aid to Ukraine was drying up, President Donald Trump had made public his desire to get a hold of Ukraine’s rare earth minerals in return for a new influx of American
While the European Commission allegedly does not plan to reinstate pre-war trade rules, it is considering alternatives within the Deep and Comprehensive Free Trade Area (DCFTA) framework, including quotas for agricultural products and additional safeguards.
Syria's new administration has banned all Russian, Iranian, and Israeli goods from entering the country in a new decree issued by the country's Minister of Finance on Jan. 17.
Ukraine, a global agricultural powerhouse, exported 78.3 million tons of products in 2024, including grains and sunflower seeds critical to markets across Africa and Asia.
Preliminary data shows that Ukraine’s exports grew by more than 13% over the past year, primarily due to stabilizing the functioning of Ukrainian seaports, Economy Minister Yuliia Svyrydenko said on Dec. 30.
The decrease of 10.5% compared to November 2023 marks the first drop since July, Reuters writes.
Russia’s state-owned TASS news agency reported that the two countries had agreed to boost charter flights. The agreement was confirmed by Russia’s Ministry of Natural Resources, which noted that between January and September, over 5,000 tourists traveled between the two countries.
Chinese state-owned company Sinosure that insures export supplies against the risk of non-payment has begun to refuse to cooperate with Russian entrepreneurs, Russian newspaper Vedomosti reported on Nov. 5, citing four unnamed sources from importing companies.
Ukraine is currently in discussions with China to expand exports of various agricultural products, according to Oleh Osiian, the First Deputy Head of the State Service of Ukraine for Food Safety and Consumer Protection.
As the full-scale invasion continues, Western countries are imposing increasingly severe sanctions on Russia, forcing it to seek new partnerships with Asian powerhouses China and India.
Romania's Coast Guard confirmed on Sept. 12 that the vessel was sailing through Romania's exclusive economic zone, about 55 km from the Romanian port of Sfantu Gheorghe, at the time of the attack.
Banks in the United Arab Emirates (UAE) have been rejecting transactions from Russian companies for electronic components and consumer electronics from China since early August, the pro-Kremlin outlet Kommersant reported on Aug. 28.
This volume included 43.5 million metric tons of agricultural products exported through the Black Sea shipping route over the past year.
Much of the cash arrived in Russia via third-party countries such as the United Arab Emirates and Turkey, which have declined to join in such currency-related sanctions against Russia.
According to data seen by Reuters, five Western insurance companies have continued providing services to Russian oil tankers, despite concerns that most Russian oil is still being traded above the $60 per barrel price cap.
Russia and China are discussing the possibility of a barter trade, with the first deal involving agriculture expected as early as this autumn, Reuters reported on Aug. 8, citing three undisclosed trade and payment sources.
Turkey ratified an agreement on a free trade zone with Ukraine on Aug. 2, more than two years after the agreement was originally signed.
"Poland has specific conditions for Belarus if it would like to normalize relations," Polish Deputy Foreign Minister Andrzej Szejna said.
"When we are looking at Russia, we are looking at how both countries can gain by better trade relationships," Indian Trade Secretary Sunil Barthwal said during a press conference.
China has tightened export controls on military and dual-use products since July 1, the Moscow Times reported on July 5. This has already made it more difficult to deliver Chinese equipment and machinery to Russia, the Moscow Times reported, citing Russian importers.
The following is the July 4, 2024 edition of our Ukraine Business Roundup weekly newsletter. This version is condensed as the author was out of the office. To get the biggest news in business and tech from Ukraine directly in your inbox, subscribe here. EU accession talks begin Ukraine and
According to the newly implemented rules, an emergency brake can be applied to imports of eggs, poultry, sugar, oats, maize, groats, and honey. The measure will be automatically triggered if import volumes reach the average yearly imports recorded between July 1, 2021, and Dec. 31, 2023.
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