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President Volodymyr Zelenskyy said that by the end of the year Ukraine will receive another $4-5B for domestic drone production. Zelenskyy specified that the state spent about ₴120B ($3B) on domestic drone production this year and the Nordic countries provided €750M (₴30B). In total, Ukraine has allocated ₴150B to its domestic production and has agreements with partners to receive about $4-5B (₴150-200B) by the end of the year. Zelenskyy added that he discussed exporting defense products with Minister of Defense

The conclusions of the European Council that were approved following a meeting with the participation of EU leaders on October 17 in Brussels emphasize the importance of fulfilling commitments to provide, together with G7 partners, about €45B ($50B) by the end of the year in support of Ukraine’s current and future needs. “According to EU legislation, Russia’s assets must remain immobilized until Russia ends its aggressive war against Ukraine and compensates it for the damages caused by this war,” the

The Ministry of Defense of the Netherlands reports that the country will purchase modern €42.6M worth of reconnaissance and surveillance UAVs from the DeltaQuad company and transfer them to Ukraine. As well, Denmark has allocated DKK 2.4B ($350M) for Ukraine’s 21st package of military aid. It includes new equipmentfor Ukraine, additional funds for Ukraine’s military-industrial complex, and equipment donations from the country’s defense stock. Also, Canada will give Ukraine aid worth CAD 64.8M ($47M) that includes small arms, ammunition, and

Hungarian Prime Minister Viktor Orbán said he does not support Volodymyr Zelenskyy’s Victory Plan because “it is not a victory plan for Hungary.” “We have not participated in war and will not participate now. You cannot win with this plan,” Orbán said. He once again accused the EU of acting as a belligerent in the Russian-Ukrainian war, and Hungary believes that this conflict cannot be resolved at the front. Also, head of the Slovak government Robert Fico said that Zelenskyy’s

According to a study by the KSE and Brave1, in 2023 Ukrainian defense startups attracted up to $5M in investment; in 2024 the amount may reach $50M. The average investment round size increased from $500,000 to $1-3M, which indicates the strengthening of investor confidence in Ukrainian developers. The industry’s production capacity has significantly increased. About 300,000 drones were produced in 2023, and in 2024 Ukrainian manufacturers will be able to produce up to four million units. Today, the priority has

Ukrainian online taxi service Uklon will continue its export direction. It plans to return to Moldova and is studying the markets of Eastern Europe, the company’s co-founder Dmytro Dubrovskyi said. “As for Moldova, we want to return there; we left because the war started, and there was a fear that there would not be enough money for the company in Ukraine. We liked working in Moldova,” he said. Also, according to him, the company is studying Eastern European markets, particularly

Washington maintains a firm position that Ukraine is heading “on an irreversible path” to membership in the North Atlantic Alliance, but the possibility of Ukraine’s quick invitation to join NATO is not yet officially being considered, US Permanent Representative to NATO Julianna Smith stressed. In turn, NATO Secretary General Mark Rutte said that Ukraine will become NATO’s 33rd or 34th member. However, Rutte did not say when exactly the accession will take place. He added that the Alliance “takes note”

He stressed the importance of European unity and pointed to the need for a second Peace Summit to end the war. According to him, European unity is a weapon that ensures security not only for Ukraine but for all Europeans. The Ukrainian president announced the Framework Formula for Peace, which includes all the necessary aspects to restore peace. “In November, we will develop a full-fledged document based on the Peace Formula and share it with everyone, including the Russians, at

According to him, another peace conference is needed, similar to the Swiss summit, but with the Russian Federation’s participation. The chancellor stressed that the time has come when, in addition to full support for Kyiv, Western countries must do everything possible to ensure that hostilities “will not last forever.” At the same time, Scholz noted that negotiations with Moscow should be coordinated with Germany’s closest allies, and decisions cannot be made behind Ukraine’s back. Meanwhile, the opposition accuses Scholz of

The Norwegian government has approved a €6.4M aid package for Ukraine, Norwegian Foreign Minister Espen Eide said during a briefing with the heads of the Nordic-Baltic Eight foreign ministries in Odesa. He added that Norway has several plans that it will be implemented based on whether the war in Ukraine ends or continues. Lithuanian Foreign Minister Gabrielius Landsbergis also said that his country has agreed on a new aid package for Ukraine’s energy sector. “We have already supplied equipment worth

The European Union’s willingness to abandon Russian gas and the cessation of its supply to the EU benefit Ukraine, as it deprives the aggressor country of annual budget revenues of $6.5B, noted oil and gas market expert Mykhailo Krutykhin. According to him, Ukraine will lose only $230M a year from discontinuing gas transit, which is significantly less than the profit Russia will be deprived of. The EU has decided that all bloc countries will completely abandon Russian pipeline gas by

Currently, 174,000 square kilometers of land in Ukraine have been mined. Since 2022, thanks to the joint efforts of Ukraine and its partners, sappers have surveyed and returned 35,000 square kilometers to safe use, Ukrainian Economy Minister Yulia Svyrydenko said at the UMAC 2024 Conference on Mine Action in Ukraine. “Ukraine is now one of the most contaminated countries in the world. This is a critical challenge for both Ukrainians and the international community. The first issue is security. Without

Ukraine has offered Slovakia and Azerbaijan a new scheme for gas supplies through its territory to the EU. Discussions are centered on the option of storing gas in Ukrainian underground storage facilities with subsequent supply to Slovakia or other countries. In this way, the supplies would not be considered transit, but re-exported gas. To clarify, the owner of the gas will pump it into storage, and then they will be able to use it at their discretion. This proposal was

The Bilhorod-Dnistrovskyi seaport in the Odessa region has been put up for auction again, this time on October 31. The starting price is almost ₴178M ($4.32M). The winner must also pay 20% VAT and repay the company’s debts. The state has tried to sell the port more than ten times. The State Property Fund is also selling the property complex that belonged to the Odessa Experimental Prosthetic and Orthopedic Enterprise. That auction is scheduled for November 8, and the starting

According to KPMG, activity in the Ukrainian M&A market has remained stable for the second year in a row, indicating cautious investor confidence despite the ongoing war. In the first nine months of the year, the number of deals decreased by only 2.7% compared to last year, while the total value of deals increased by 2.9%, reaching $643M. Even in the war, foreign investors are showing interest in Ukrainian companies, especially in the technology sector. The average deal size during

According to ICU analysts, demand for foreign currency among Ukrainians remains at a very high level and is forcing the NBU to sell large volumes of it from its international reserves to maintain the hryvnia exchange rate at close to the current level and reduce inflationary pressure. Total net currency purchases last week decreased by 9% to $500M. In the interbank market, net purchases decreased by 10% to $234M, and in the retail segment by 8% to $266M. At the

After a long pause, Biosphere Corporation, one of the largest in Ukraine in the household goods market, has relaunched its business in Uzbekistan. In the week since the first shipment, eight of the largest regions of Uzbekistan have already beensupplied. Diversifying the company’s geography is a way to increase business sustainability. Biosphere began exporting its products to Uzbekistan in 2020, but in 2022 it faced logistical problems supplying products to Kazakhstan and Uzbekistan despite existing large orders. Biosphere Corporation has

Dalgakiran Group, a Turkish industrial equipment manufacturer, has acquired a controlling stake in Ukrainian company Sensi, which specializes in producing gas compressors and specialized equipment for the oil and gas industry. Thus, Dalgakiran will gain access to unique technologies and advanced developments that Sensi actively uses in its production. For its part, Dalgakiran plans to make significant investments in the company to expand its production capacity. This will allow it to increase production volumes, improve technological processes, and increase productivity

US President Joe Biden is scheduled to visit Germany to meet with European leaders on October 18 and discuss support for Ukraine, including military aid. According to CNN, Biden will meet with German Chancellor Olaf Scholz, French President Emmanuel Macron, and British Prime Minister Keir Starmer. The leaders of the four countries had planned to meet with President Zelenskyy at the Ramstein air base in Germany, but the meeting was canceled. It should be noted that the US, Germany, the

If the information about the participation of North Korean military personnel on Russia’s behalf in the war against Ukraine is confirmed, it would indicate a significant deepening of relations between Russia and North Korea, said White House National Security Advisor John Kirby. It will also mean “new levels of desperation on the part of Putin, who is trying to continue his attempts to make progress in Ukraine.” However, he added that the US has no confirmation of Russia’s involvement with