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.
"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.
"He's trying to back out of the rare earth deal and if he does that he's got some problems, big, big problems," Trump told reporters aboard Air Force One on March 29.
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.
The sharp decline is primarily attributed to Ukraine halting Russian gas transit through its territory on Jan. 1 after the expiration of a 2019 transit agreement.
"We have passed along a completed document for the economic partnership (that) is currently being reviewed by Ukrainians, and we hope to go to full discussions and perhaps even get signatures next week," U.S. Treasury Secretary Scott Bessent said.
A Russian explosives manufacturer has ordered tens of thousands of tons of nitric acid and other chemicals from fertilizer producers exempt from sanctions, according to documents seen by Bloomberg.
Russia's "unconditional withdrawal" from Ukraine is one of the main preconditions for changing or lifting EU sanctions, European Commission spokesperson Anitta Hipper told Ukrainian media outlet Suspilne on March 26.
The European Bank for Reconstruction and Development (EBRD) on March 26 approved a loan of 270 million euros ($290 million) for Ukraine's Naftogaz to purchase gas for the next two winters, Prime Minister Denys Shmyhal said.
A new state agency, PlayCity, will aim to digitize gambling business licensing and strengthen oversight of the industry.
While the White House celebrates a ceasefire in the Black Sea after a 12-hour meeting in Riyadh, in Ukraine, the enthusiasm is muted. The agreement is missing crucial securities that Ukraine urgently needs, including protecting its ports from Russian attacks as well as opening up the blockaded Mykolaiv port. The
Editor’s note: This is issue 19 of Ukrainian lawmaker Yaroslav Zhelezniak’s weekly "Ukraine Reforms Tracker" covering events from March 17–23, 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 and
Under the new initiative, the Danish government will introduce a state-backed guarantee through the Export and Investment Fund of Denmark (EIFO).
The restart of flights is vital for rebuilding Ukraine's economy, a process that cannot start unless "somebody gives the airports a kick up the backside," Ryanair CEO Michael O'Leary said.
The analysis covered over 300 foreign firms with "significant assets" and annual revenue of at least 1 billion rubles ($12 million) in Russia. Of these, 183 companies had fully withdrawn by the end of 2024.
Those expected to be impacted by sanctions include Russia, Australia, Canada, the EU, and China, among many other expected targets, the Wall Street Journal (WSJ) reported.
A coffee shop in Kyiv called "Trump" is rebranding to "Nolan" as Ukrainians grow increasingly frustrated with U.S. President Donald Trump's stance on Ukraine. Located in the capital's central Pechersk district, the establishment was opened in 2019 and in January of this year celebrated Trump's inauguration with a special
Russian businesses have significantly scaled back their recruitment efforts in early 2025, with job openings falling 15% compared to the same period last year, pro-state Russian outlet Izvestia reported on March 24, citing data from employment service hh.ru.
"And one of the things we are doing is signing a deal very shortly with respect to rare earths with Ukraine," Trump announced after signing an executive order to ramp up domestic minerals production.
The European Commission is contemplating significant cuts to Ukrainian sugar imports after complaints from EU producers about plummeting sugar prices, Reuters reported on March 20, citing information from three sources.
"G7 decision that those assets are not going back to Russia unless Russia pays for its damages is something which is already decided. And it's important to stick with this decision," EU Economy and Trade Commissioner Valdis Dombrovskis said.
Russia has overtaken the United Arab Emirates as India's top naphtha supplier in the past year, as Indian refiners capitalize on discounted Russian shipments, Reuters reported on March 20, citing preliminary ship-tracking data.
“No one has officially applied yet. So, they are informally probing the ground,” Dmitry Medvedev, deputy chairman of Russia's Security Council, claimed.
Russian forces struck the printing facility on May 23, 2024, killing seven people and injuring 21. The attack destroyed more than 50,000 books and vital printing equipment.
"Water supply, technical staff, and many more steps to ensure that in a year and a half to two and a half, the plant starts to bring money and electricity to people. This is my vision," President Volodymyr Zelensky said.
Editor's note: This story was updated on March 26 after Russia falsely claimed the Zaporizhzhia Nuclear Power Plant to be a Russian facility. The White House on March 19 proposed Ukraine pass its nuclear facilities to the U.S. as part of the ongoing ceasefire talks. "The United States could
The following is the March 18, 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. I’ve always wanted an excuse to talk to this newsletter audience about McDonald’s in Ukraine and
Ukraine’s largest telecom operator, Kyivstar, has signed an agreement to acquire Uklon, a leading ride-hailing and delivery platform in the country, for $155.2 million, Kyistar’s parent company, Veon, announced in a press release on March 19.
Trump also said it was "a great call" and that the U.S. hopes to expand trade with Russia, including deals on "very big forms of rare earth."
Editor’s note: This is issue 18 of Ukrainian lawmaker Yaroslav Zhelezniak’s weekly "Ukraine Reforms Tracker" covering events from March 10–16, 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
Editor’s note: This article is part of a series of profiles highlighting successful Ukrainian startups and businesses. The series is funded by the regional investment fund Ukraine-Moldova American Enterprise Fund (UMAEF) and created in partnership with Spend With Ukraine, a non-profit organization that launched a platform to showcase businesses
Kirill Dmitriev, the CEO of the Russian Direct Investment Fund (RDIF), said he expects Russia to hold talks with U.S. billionaire and President Donald Trump's ally, Elon Musk, in the near future, the pro-state news agency RBK reported on March 18.
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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