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Given its economic strength, the EU can allocate around €250B each year to defense. This expenditure, which represents 1.5% of the EU’s GDP, would enable Europe to mobilize around 300,000 soldiers counter Russian aggression. Military experts recommend increasing European defense spending to 3.5-4% of GDP per year from the current 2%. Half of this expenditure could be funded through a common European debt for joint procurement, while the remainder could be covered at the national level. To support 50 additional

Hungarian Agriculture Minister István Nagy stated: “We protect the interests of farmers from Ukrainian agricultural products. In a joint letter with my colleagues from Bulgaria, Romania and Slovakia, we call on Brussels to act. The EU legislation regulating imports from Ukraine expires in June, so the EC must find a long-term solution to the market difficulties caused by Ukrainian agricultural products.” The countries called on the EC to return to pre-war agricultural quotas, introduce measures to protect agricultural products, and

In Ukraine, the percentage of companies expecting their business situation to worsen has decreased to 29%, down from 56% in July 2024. Additionally, the number of those who believe the situation will improve has doubled in six months – rising from 16% to the current 32%, according to a survey by the European Business Association. Reports indicate that over the past six months, the percentage of managers who view their business situation positively has grown from 27% to 40%. More

In 2024, the Metinvest mining and metallurgical group significantly increased its total exports and sales of iron ore raw materials to over 12 million tons and notably reduced production costs, said CEO Yuriy Ryzhenkov. The company’s primary sales markets are in EU countries, and the company expanded its reach by entering Northern European countries. Remaining production is directed to Southeast Asia. Ryzhenkov noted that the group possesses power generation capacity of 45-50 MW, which supports the most critical processes and

European Commission President Ursula von der Leyen announced in Kyiv that Ukraine will receive a new €3.5B payment from the EU in March. She emphasized that not only is Ukraine’s fate at stake, but also Europe’s fate, so the primary task for Europeans remains strengthening Ukraine’s resistance. “The EU and member states have supported Ukraine to the tune of €134B. This is more than any other entity,” von der Leyen stated. Ukrainian Prime Minister Denys Shmyhal reported that Kyiv has

President Zelenskyy held a press conference at the Ukraine. Year 2025 forum. Here are the main points: The summit will take place in Kyiv on February 24 and a future meeting will be held in Europe: Thirty-seven leaders from various states will attend the summit in Kyiv, with 13 of them present in person, including leaders from Northern Europe and EU leadership. The president will also propose that the allies convene in a European capital to discuss the format of

The head of the US Treasury Department, Scott Bessent, shared key details of the rare earth metals agreement that the US and Ukraine are set to sign. It is expected that the US will invest in Ukraine’s development without gaining ownership rights to its assets and without creating new debt obligations. Bessent emphasized that the US will financially support Ukraine, in exchange for which it will gain economic and management rights. A portion of the income from Ukraine’s natural resources

White House press secretary Karoline Leavitt said that US President Donald Trump is confident in the possibility of concluding an agreement to end the war in Ukraine, and this could happen as early as this week. This statement came after Trump said that President Zelenskyy has no leverage and should not participate in peace talks with international leaders. “I don’t think he (Zelenskyy) is that needed for meetings, to be honest,” the US president said. In addition, the American leader

Representatives from the US and Russia have been meeting secretly in Switzerland in recent months to discuss the war in Ukraine. The last meeting took place in Geneva during the Munich Security Conference. Only a small number of Trump’s advisers were aware of these meetings. Reuters sources describe the talks in Switzerland as “second-track diplomacy” – an informal dialogue to enhance communication and share ideas, rather than formulating specific proposals. In contrast, during the first round of official talks in

After Russian missile strikes on gas infrastructure, gas production in Ukraine has decreased by 40%. In February and March, Ukraine plans to import up to 800 million cubic meters of blue fuel from Europe. Before the attacks, Ukraine produced about 52 million cubic meters of gas per day, and in the winter, it consumed from 110 to 140 million cubic meters per day. Gas reserves in Ukraine’s storage facilities are small, but with the planned imports and domestic gas production,

On the night of February 23, the Russian military attacked Ukraine with a record number of drones – 267 – and three ballistic missiles. The previous two nights, they used 160 attack drones against Ukraine. And on the evening of February 22, the invaders launched a missile strike on Kryvyi Rih, hitting an infrastructure facility. As a result of the attack, a man was killed and five more people were injured. The strike damaged 12 apartment buildings, a civilian infrastructure

On the third anniversary of Russia’s full-scale invasion of Ukraine, the US submitted a draft resolution to the UN. This resolution expresses condolences for the victims of the “Russian-Ukrainian conflict” and underscores that the UN’s primary mission is to uphold international peace, security, and facilitate peaceful resolution of disputes. The document also calls for “the earliest possible end to the conflict and the achievement of lasting peace between Ukraine and Russia.” The document reflects negotiation points that have been proposed

British Foreign Secretary David Lammy said that today the UK will announce a new package of sanctions against Russia. As he specified, this is the largest package of sanctions the UK has produced since the beginning of the war, and the sanctions are designed to undermine the Kremlin’s military machine and reduce the revenues that “fuel the war in Ukraine.” Meanwhile, the G7 countries, in a communiqué on the third anniversary of the Russian invasion of Ukraine, abandoned their call

The EU is preparing a new €20B military aid package for Ukraine amid US President Trump’s attempts to reach a quick peace settlement with Russia. The funds will be used to strengthen Ukraine’s defense capabilities, including the supply of artillery shells, air defense systems, long-range missiles, and UAVs. Estonia has sent 10,000 artillery shells and 750,000 food kits to the Armed Forces of Ukraine and is also preparing to transfer more than €100M worth of products produced by its defense

The EU is considering the potential confiscation of around $280B in frozen assets belonging to the Russian Central Bank in light of a possible reduction in aid from the US. There is ongoing discussion about using these assets as collateral for establishing an International Claims Commission, which will evaluate compensation for Ukraine’s war damages. If Moscow declines to pay damages, these assets could be seized. However, Germany, France, and the European Central Bank are against confiscation, concerned about legal ramifications

The increase in overall activity among international investors last year in the M&A sector may provide an additional impetus for inward investment in Ukraine. Despite the war and the accompanying uncertainty, Ukrainian companies have shown a desire to grow through diversification and international expansion, which helps maintain economic activity. One of the key factors driving domestic deals is Ukrainian companies’ accumulation of capital, which creates a demand for investment opportunities. Coupled with the introduction of war risk insurance mechanisms and

In 2024, the largest worker shortfall in Ukraine occurred in the education sector, where around 25,000 experts were needed, according to the State Employment Service. In second place is the manufacturing industry, with 9,000 vacancies. The accommodation and catering sector ranks third, requiring 3,000 more staff members. The primary reasons for the personnel shortage include the reduced labor supply due to the war, population migration, and conscription of both men and women into military service. Additionally, significant economic changes have

Local authorities are evaluating the possibility of restoring and relaunching the Zhytomyr International Airport, which was inactive from 1990 to 2014 before some minor operations were restored, according to Olena Shulyak, head of the Verkhovna Rada Committee on Regional Development. The airport could provide competition for the Boryspil and Zhulyany international airports by offering favorable conditions for low-cost airlines, while also potentially becoming a hub for air cargo transportation. Once operational, the Zhytomyr International Airport will be capable of accommodating

The US opposes the use of the word “aggressor” for Russia and similar formulations that G7 leaders have used since 2022 in statements connected with the third anniversary of the invasion of Ukraine. The Trump administration’s insistence on softening the wording reflects a broader shift in US policy, which now describes the war as the “Ukrainian conflict.” Furthermore, President Zelenskyy’s participation in the virtual G7 summit on February 24 has not been confirmed and is in question. The shift in

According to the EU’s top diplomat, Kaja Kallas, discussions have intensified on how to boost defense spending, with joint financing increasingly becoming part of the conversation. The bloc may also look into redirecting unused funds from the COVID recovery package. “I think this is short-term financing that will enable us to act very quickly. However, regular bonds were also considered. This represents medium- and long-term financing that we need to evaluate,” Kallas remarked. Brussels aims to redirect €93B of unused