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EU countries are nearing a deal to create a new €1.5B defense fund that will help strengthen both the bloc’s defense industry and Ukraine’s over the next three years. The agreement to develop the European Defense Investment Program (EDIP) is likely to be signed by the end of the year. It will allow the purchase of military equipment, 35% of which consists of components from outside the EU. The agreement to create the EDIP resulted from a balancing act between

Iryna Koval, Commercial Director of Building Development, which manages several retail real estate properties throughout Ukraine, said that their new facility in Chernivtsi, Bukovyna Mall, will be the largest shopping mall in the region. Its total area will initially be 42,000 square meters, and the retail area will be 35,000 square meters. The preliminary opening date is November 2025. The shopping mall is expected to have 18,000-20,000 visitors on weekends and 12,000-14,000 customers on weekdays. The shopping mall’s anchor stores

Agro-Region agroholding has reduced the cost of transporting grain and oilseed crops by 30% by creating its own fleet of 40 grain wagons, 25 of which the company received through the USAID grant program. Agro-Region transports the main volumes of its products by rail and road to ports, then exports them by sea. At the same time, Adelaida, in cooperation with Ukreximbank and USAID, has launched a 10,000-ton potato storage facility with a processing plant in the Zhytomyr region. Potato

President Zelenskyy said that the allies should offer NATO membership to the unoccupied portion of Ukraine to end the “hot phase of the war.” He believes that the occupied territories can be returned diplomatically. In exchange, Ukraine should receive a NATO invitation to NATO that extends to its internationally recognized borders, including Crimea, which was annexed in 2014. According to the Ukrainian president, NATO membership can guarantee that “Putin will not return,” and a ceasefire without security guarantees from NATO

Donald Trump’s special representative for the Russia-Ukraine war, Keith Kellogg, outlined his plan for ending the war back in April in an article for the America First Policy Institute. The plan stipulates that future American aid, likely in the form of a loan, will depend on Ukraine’s negotiations with Russia and that the US will arm Ukraine sufficiently to defend itself and stop any further Russian aggression before and after the deal. The plan also calls for a tax on

US President Joe Biden, after the Russian air attack on November 28, made a statement promising further support for Ukrainians. “This attack is outrageous and serves as another reminder of the urgency and importance of supporting the Ukrainian people in their defense against Russian aggression. My message is clear: the United States stands with you,” Biden said. He emphasized that earlier this year, the US prioritized the export of air defense equipment to Ukraine. As a result, the Pentagon has

The EU’s High Representative for Foreign Affairs and Security Policy Kaja Kallas arrived on an unannounced visit to Kyiv and stressed that the EU will do everything necessary for Ukraine to win the war against Russia. President Zelenskyy discussed Ukraine’s need for air defense systems with Kallas. Following a conversation with the new President of the European Council, António Costa, who also visited Kyiv, the Ukrainian leader said that all conditions are in place to open two negotiation clusters with

According to Minister of Economy Yulia Svyrydenko, the new property policy defines the state’s role in managing state-owned companies, outlining which are strategically crucial for the country and what tasks they should perform. This document introduces high corporate governance standards in the public sector. Together with the state property policy, a clear and transparent remuneration policy for managers and supervisory board members of state-owned companies and a dividend policy is being introduced for the first time. These measures will increase

Deputy Prime Minister for Recovery Oleksiy Kuleba stated during the International Transport Forum (ITF) that Ukraine is doing everything necessary to integrate into the European transport space and is calling on its partners to develop logistics routes. Prime Minister Denys Shmyhal said that the government plans to approve a strategy for the development of road and rail checkpoints and access roads. He also stressed the need to extend the Agreement on the Liberalization of Freight Transport between Ukraine and the

These are the private sector’s involvement, the regional dimension, European integration, and human capital development, said the Italian Ambassador to Ukraine Carlo Formosa. According to him, Italy seeks to define concrete results for each area in close cooperation with Ukraine and with the support of other international donors. Particular attention will be paid to cross-cutting themes and strategic reconstruction sectors, such as energy, infrastructure, the defense industry, and agribusiness. In Italy, companies from both countries are expected to sign significant

Of the $50B planned to be provided to Ukraine from frozen Russian assets, the first tranche of $22B will be transferred in 2025, and the remaining funds will be received in 2026-2027, said Finance Minister Serhiy Marchenko. However, if additional military needs arise, funding in 2025 may be significantly increased. Meanwhile, the Norwegian Parliament approved the extension of the Ukraine Support Program for another three years and plans to allocate at least NRK 35B (€3.1B) in aid next year. Of

The Ministry of Economy reported that “Finland has been playing an important role in supporting Ukraine since February 2022, allocating €3.1B for defense and humanitarian assistance. Finland’s National Plan provides for participation in the reconstruction of Ukraine, and the National Development Cooperation Fund, Finnfund, is already investing in Ukraine’s private sector.” Finnish companies positively assess the Ukrainian government’s efforts to provide military risk insurance, which is a priority area for them. The expansion of the presence of Finnish businesses in

President Volodymyr Zelenskyy signed a law on tax increases that are necessary to finance defense spending. The increases came into force on December 1. The total tax increases in 2024 will be about ₴8B ($195M). In particular, taxes for citizens and individual entrepreneurs will increase. Next year, the main revenue source will be income from individual taxpayers, and banks will pay an increased tax burden. The law provides for an increase in the military levy on all income from citizens

European wood-based panel manufacturer Kronospan has invested €200M in a new production line for oriented strand board (OSB) in the Rivne region. Over the past 20 years of operation in Ukraine, the company has invested almost €1B in Ukrainian production, of which €563M has gone to a plant in the Rivne region. The company currently employs nearly 800 specialists. The company has also initiated the creation of an industrial park, where it plans to form a furniture cluster around the

As reported by Ukrainian real estate developer Avalon, in Lviv since 2022 the geography of buyers has significantly expanded, and about half of the transactions are made for investment purposes. This year, three categories of investors are active in the Lviv’s residential real estate market, and their ratio is dependent upon the class and stage of project implementation. At the start of a typical project, 60% of clients buy for investment, and with projects that are closer to completion there

On the morning of November 28, Russia attacked energy facilities throughout Ukraine, leaving hundreds of thousands of Ukrainians without electricity, Energy Minister Herman Galushchenko said. As a result of the eleventh massive attack this year, facilities in several regions of the country were damaged – 12 hits were recorded on fuel and energy facilities. The Russian Federation used 188 air attack vehicles against Ukraine – 97 drones and 91 missiles. Air defense forces destroyed 79 missiles and 35 strike drones,

The incoming National Security Advisor to US President-Elect Donald Trump, Mike Waltz, is studying several options for ending the war between Russia and Ukraine. Among them are proposals from General Keith Kellogg, whom Trump appointed as special representative for the war in Ukraine. Currently, the Trump administration is seeking a quick ceasefire. This would temporarily freeze the conflict and create conditions that would allow negotiations between the parties. It is anticipated that Ukraine’s European allies and NATO will be called

The Biden administration is preparing a new military aid package for Ukraine worth $725M. It will provide a variety of anti-tank weapons from American stocks. The package is also expected to include anti-personnel mines, drones, Stinger missiles, ammunition for HIMARS systems, and cluster munitions. This package will be one of the largest provided under the Presidential Drawdown Authority (PDA), allowing weapons to be transferred from Pentagon warehouses. Biden has access to another $4-5B in PDA funds that he wants to

The European Parliament has adopted a resolution on strengthening the EU’s unwavering support for Ukraine’s struggle against Russia’s aggressive war, in which it strongly criticizes the deployment of North Korean troops in support of Russia’s military operations in Ukraine. The resolution also calls on Russia to cease all forms of military and technological cooperation with the DPRK and to comply with its obligations under nuclear weapon non-proliferation treaties. MEPs ask the EU and its member states to strengthen their military

Seoul has rejected a Ukrainian delegation led by Defense Minister Rustem Umerov that sought to purchase South Korean weapons. The delegation met with President Yoon Suk-yeol and the South Korean defense minister. The weapons that Ukraine has been requesting are non-lethal weapons, such as the Cheongung interceptor system, a local air defense radar, and an anti-artillery radar. There was also a request for 155-caliber artillery shells. Sources said that South Korean companies have also received a request for arms sales,