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Ukraine’s Security Service struck an airfield in Saky, in annexed Crimea, overnight on Monday, targeting five fighter jets used by Russia for its regular attacks on Ukraine. The SBU stated that drones from its Special Operations Centre destroyed one SU-30SM aircraft, damaged another, and impacted three Su-24s while also striking the aviation weapons depot. One SU-30SM fighter jet was completely destroyed, and another was damaged, the Security Service of Ukraine (SBU) said in a statement. Three Su-24 bombers and an

US State Department Deputy Spokesperson Mignon Houston, commenting on the war in Ukraine, said that the United States seeks lasting peace in the region. According to her, Washington wants to continue to providing support with its ally, Kyiv, which is calling for a complete ceasefire. Houston added that a peaceful solution requires direct negotiations between Ukraine and Russia, as well as a ceasefire that will lead to a final agreement. To that end, US President Donald Trump announced that his

Poland has signed a $6B contract with South Korea to purchase 180 K2 tanks. The expansion of Poland’s tank forces is driven by the full scale war being waged against Ukraine by Russia and the crisis on the Belarusian border that has been ongoing since 2021. Notably, Poland currently allocates 4.7% of its GDP to defense, the highest among NATO countries. Once the contract is fulfilled, Poland will have a total of 1,100 tanks, surpassing the combined total of Germany,

According to estimates from the Main Intelligence Directorate of Ukraine’s Ministry of Defense that analysts have access to, the war in Ukraine accounts for 13.1% of Russia’s GDP, or 68% of the entire federal budget. Additionally, substantial funds are also being allocated from regional budgets. “Every two out of three budget rubles are spent on ‘shooting Ukraine’”, the researchers note. On average, Russia spends $0.857B daily, $25.7B monthly, and $308.7B yearly on the war in Ukraine. Overall, since 2022 the

The National Bank of Ukraine has now estimated that the electricity deficit will be at 1% by the end of this year compared to the previous estimate of 3%. It is also forecasted that in 2026 the deficit will stay at 1%, including imports. By 2027, the need for electricity imports will be eliminated entirely. In July Ukraine increased its electricity exports by 16% compared to June – up to 282,200 MWh. Electricity exports to Moldova rose sharply, with over

The State Property Fund has announced an auction for the sale of the state-owned stake in the Titanium Institute with an initial price of ₴99.77M ($2.4M). The auction will be held on August 12. The Titanium Institute is the only comprehensive research and design institution in Europe focused on titanium and magnesium production, as well as primary non-ferrous metallurgy. The enterprise conducts a full range of research and design work on the production of rare earth metals (gallium, germanium, zirconium,

Maintaining the discount rate at 15.5% in the second quarter of 2025 supported high yields from hryvnia instruments and encouraged demand from the public. At the same time, this did not hinder the active growth of loans to businesses and individuals, according to the NBU. It’s noted that the high yield of hryvnia instruments helped boost savings: The volume of hryvnia deposits by individuals over the three months rose by 6.6% in the second quarter (+₴17.4B). Additionally, the introduction of

The National Bank of Ukraine projects that the net migration outflow this year will be around 200,000 people. According to the bank’s inflation report, migration outflows are forecasted to continue at a similar level in 2026. However, net return migration is expected to begin in 2027, with about 100,000 people returning – significantly fewer than the previously forecasted 500,000. Factors contributing to emigration include ongoing high security risks, including Russia’s continued shelling across Ukraine and terrorist attacks on civilians. Conversely,

OPEC+ countries agreed to boost oil production by 547,000 barrels per day in September amid worries about possible disruptions to Russian crude supplies. The eight OPEC+ countries’ decision comes as the US intensifies its pressure on India to halt purchases of Russian crude. This move ends OPEC+’s longest-ever cut in oil production and increases output for the UAE. For years, OPEC+ has been reducing oil output to support prices, but in 2025 the group has reversed course to regain market

Ukraine’s largest poultry producer, MHP, has finalized a deal to acquire over 92% of UVESA Group’s authorized capital, making it a leader in the Spanish food industry. The transaction was officially concluded after obtaining all necessary permits from Ukrainian, Spanish, and European regulatory authorities. As a result, MHP now oversees the company’s main processes and operations, which focus on poultry and pork production. “We have finalized the deal and are moving to the UVESA integration stage”, said MHP founder Yuriy

Coal Energy, a company with Ukrainian roots and listed on the Warsaw Stock Exchange, aims to restart coal mining at mines that have been closed in Poland and Romania, relying on its experience in reviving unprofitable state-owned mines in Ukraine. Although Poland has a plan to phase out coal by 2049, Coal Energy still sees opportunities in this market, mainly through supplying resources to Ukraine. Specifically, the company is considering acquiring the assets of the Siltech mine in Zabrze, Poland,

Founded in 2023, Knap Knap Furniture from Chernihiv specializes in producing modern transforming furniture. Initially, the company operated in a small room with minimal equipment, and some operations had to be outsourced, which increased production costs. When the company started working with large chains, it became clear that its existing production capacity was insufficient, and expansion was necessary. The company decided to leverage government support and in 2024 received two grants under the Made in Ukraine program: one grant for

President Zelenskyy has offered Russian dictator Vladimir Putin a direct, face-to-face meeting to discuss the war. He urged Russia to stop issuing vague statements and agreeing only to technical meetings and instead engage at the leadership level if it truly wants to end the war. The offer followed Putin’s expression of willingness to end the war on terms outlined in June 2024, which effectively mean Ukraine’s surrender. “Russia is ready to work out ‘compromises’ and supports Kyiv’s proposal to discuss

The EU will supply Ukraine with more air defense systems and expedite their delivery, according to EU High Representative for Foreign Affairs and Security Policy Kaja Kallas. Her statement followed another Russian strike on Kyiv on the night of July 31, which resulted in 31 deaths and 159 injured civilians. On August 1, German Defense Minister Boris Pistorius said that Germany will deliver two Patriot air defense systems to Kyiv. He stated that launchers will be delivered “in the coming

US senators have developed a bill to support Ukraine, proposing the use of $54.6B over the next two years. About a third of the aid is planned to be financed by confiscated Russian assets and the sale of weapons to European countries. The US Senate Foreign Relations Committee states that the bill’s authors are Senators Jeanne Shaheen from the Democratic Party and Lisa Murkowski from the Republican Party. The bill provides that Ukraine would receive $30B in security assistance over

According to Reuters, the US and NATO are developing a new way to supply weapons to Ukraine, using funds from alliance countries to pay for the purchase or transfer of American weapons. The new supply mechanism will coordinate the purchase and delivery of items from the Priority Ukraine Requirements List. The restart of transatlantic cooperation on providing Ukraine with weapons occurs amid US President Donald Trump’s frustration with Putin and Russia’s continued bombing of Ukrainian cities. The NATO allies plan

The Cabinet of Ministers approved amendments to the Ukraine Plan, which outlines Ukraine’s obligations it must meet in order to receive funds through the European assistance program, totaling €50B. These amendments were prepared in cooperation with the European Commission’s Directorate-General for Enlargement and the Eastern Neighborhood Policy (DG ENEST). Economy Minister Oleksiy Sobolev gave his assurance that this is a planned process, and with the updated plan Ukraine can complete certain steps faster than initially expected. The Verkhovna Rada stated

Amid rising tensions with Moscow and Beijing, the US Senate has introduced a bipartisan bill that would target China with tough sanctions for its role in supporting the Russian military machine. The sanctions would target Chinese organizations, banks, and executives who directly or indirectly contribute to supplying equipment and parts for Russian weapons, including missiles, drones, and ammunition that Moscow actively uses in the war against Ukraine. It is expected that the legislation will create real leverage to end the

In July, the business activity of Russian industrial companies dropped at the fastest rate in over two years – the PMI index from S&P Global fell to 47 from 47.5 in June. Despite significant military orders, industrial production has slowed for several quarters. It is also reported that in recent months UAE banks have started closing accounts held by Russian companies, which number over 4,000 in the country, and have increased scrutiny over compliance with sanctions. Additionally, Kazakhstan and Turkey

From January to June 2025, Ukraine exported $11.3B worth of agricultural products, which is 9% less than the corresponding period in the previous year. Agricultural exports account for about 57% of Ukraine’s total exports. The country’s primary export markets remain the EU countries ($5.386B), followed by Asia ($3.509B) and Africa ($1.474B). Overall, 10 countries – the largest importers – accounted for 60% of Ukraine’s agricultural export revenues. Ukraine’s largest export categories were grain crops ($3.99B), oils and fats ($3.16B), and