Economy

Wednesday, January 22

The manufacturer of Leopard tanks and other weapons has formed a joint venture with a Ukrainian company.

The manufacturer of Leopard tanks and other weapons has formed a joint venture with a Ukrainian company. Minister for Strategic Industries Herman Smetanin announced the official opening of a joint venture between KMW (KNDS Deutschland) and a Ukrainian defense enterprise. The newly created company will sp...

The EC is developing a plan to completely stop Russian gas imports; Trump offers an alternative.

The EC is developing a plan to completely stop Russian gas imports; Trump offers an alternative. The European Commission is working on a plan to remove all Russian fossil fuels from the EU market, EC spokeswoman Anna-Kaisa Itkonen said in Brussels on January 20. She added that the EU has cut all ...

Ukraine’s largest investors have shared their expectations for 2025; they predict increased economic activity and support from the US.

Ukraine’s largest investors have shared their expectations for 2025; they predict increased economic activity and support from the US. Most of the 145 top company managers surveyed by the American Chamber of Commerce in Ukraine (AmCham) expect continued or increased support for Ukraine from the US (77%), and 23% predict its decrease....

Nibulon’s losses due to the blockade of the Mykolaiv port exceed $500M.

Nibulon’s losses due to the blockade of the Mykolaiv port exceed $500M. One of the largest agricultural companies in Ukraine, Nibulon, suffered financial losses of more than $500M due to the closure of the Mykolaiv seaport hub. The suspension of shipbuilding and the cessa...

Tuesday, January 21

VisionFund Ukraine Starts Lending to Support Small Businesses in Ukraine.

VisionFund Ukraine Starts Lending to Support Small Businesses in Ukraine. Despite the war, international companies slowly continued entering the market, looking for high returns and post-war new market opportunities. VisionFund Ukraine, after two years on the market, receiv...

A new $25M industrial hemp processing plant with an initial capacity of 4,500 tons per year will be opened in the Zhytomyr region.

A new $25M industrial hemp processing plant with an initial capacity of 4,500 tons per year will be opened in the Zhytomyr region. The construction of a new plant for primary processing of industrial hemp has entered the final stage in the Ma’Rijany industrial park in Zhytomyr region. The launch of natural fiber and tinsel ...

Russia’s largest sponsor in its war against Ukraine bought a record amount of Russian oil but reduced its coal imports.

Russia’s largest sponsor in its war against Ukraine bought a record amount of Russian oil but reduced its coal imports. China increased its crude oil imports from Russia in 2024 by 1% compared to 2023 to a record level. Imports from Russia amounted to 108.5 million tons, equivalent to 2.17 million barrels per day. Seab...

Ukraine’s labor shortage forces the government to look for ways to entice refugees to return from Germany: What is being offered?

Ukraine’s labor shortage forces the government to look for ways to entice refugees to return from Germany: What is being offered? The Ukrainian government, faced with an acute labor shortage, is launching a campaign to encourage refugees who have left for Germany to return home. Unity Centers will be opened in Berlin and later i...

The EU and G7 countries are continuing to help Russia to finance its war against Ukraine.

The EU and G7 countries are continuing to help Russia to finance its war against Ukraine. In parallel with the introduction of new sanctions packages aimed at “weakening Russia’s capabilities to wage an aggressive, aggressive war,” contradictory actions partially offset t...

In which regions of Ukraine is housing becoming more expensive?

In which regions of Ukraine is housing becoming more expensive? Over the past six months, the most expensive housing in the primary market has been in Kropyvnytskyi – by 8% to $1,070 per square meter. Last year, three new residential complexes were built in the ci...

Monday, January 20

Privatization of profitable enterprises in Ukraine is low-hanging fruit, but not for foreign investors. A chemical factory seized from a Russian oligarch will be put up for auction this year.

Privatization of profitable enterprises in Ukraine is low-hanging fruit, but not for foreign investors. A chemical factory seized from a Russian oligarch will be put up for auction this year. PJSC Vinnytsiapobuthim, a well-known manufacturer of household chemicals and cosmetics, has been transferred to the State Property Fund of Ukraine (SPFU) for future sale at auction. This was reported...

A USAID grant helps the largest Ukrainian pet food manufacturer to increase its production capacity by 22%.

A USAID grant helps the largest Ukrainian pet food manufacturer to increase its production capacity by 22%. With support from the USAID Competitive Economy Program in Ukraine, the global, family-owned Kormotech company plans to increase its dry feed production in Ukraine from 45,000 to 55,000 tons per year ...

The US has imposed restrictions on unfinished Russian oil tankers, and the EU has found a way to circumvent Hungary’s veto on Russian sanctions.

The US has imposed restrictions on unfinished Russian oil tankers, and the EU has found a way to circumvent Hungary’s veto on Russian sanctions. Six Russian oil tankers being built at the Zvezda shipyard have been included in US sanctions among 183 total affected vessels. This is the first time tankers have been blacklisted before having set s...

The loss of Ukraine’s lithium deposits to Russia threatens Europe’s energy independence.

The loss of Ukraine’s lithium deposits to Russia threatens Europe’s energy independence. Lithium is the primary raw material for the future of green energy in Europe. It is needed to produce electric vehicle batteries, renewable energy storage devices, and digital devices. Ukraine is a ke...

The DFC will provide $40M to Astarta Holding to build a processing plant.

The DFC will provide $40M to Astarta Holding to build a processing plant. The US Development Finance Corporation (DFC) has given preliminary approval for a loan of up to $40M for the Astarta agro-industrial holding, Ukraine’s largest sugar producer. The loan will help...

Last year, UZ increased export transportation by 51.2% due to seaport operations.

Last year, UZ increased export transportation by 51.2% due to seaport operations. During December 2024, Ukrainian Railways (UZ) transported 14.032 million tons of cargo by rail (+0.071 million tons, or +0.5% compared to November 2024 volumes). According to 2024’s results, 174...

Ukraine adapts its product monitoring to EU requirements to implement industrial visa-free travel.

Ukraine adapts its product monitoring to EU requirements to implement industrial visa-free travel. The Cabinet of Ministers approved a draft amendment to the legislation governing market surveillance, the primary purpose of which is to implement European safety standards and consumer protection in ...

Despite the war, Ukraine has achieved a record GDP per capita; the World Bank worsens its forecast for 2025.

Despite the war, Ukraine has achieved a record GDP per capita; the World Bank worsens its forecast for 2025. Ukraine’s real GDP growth in 2024 was 3.6%. “If we look at the level of GDP by the level of the available population, we have now reached a record GDP per capita,” said Deputy Minist...

Ukrainians primarily enter Poland as labor migrants, not as refugees.

Ukrainians primarily enter Poland as labor migrants, not as refugees. Of all Ukrainians in Poland, 37% arrived less than six months ago, and 9% have been living there for a year, 23% for two years, 15% for three, and 6% for four. Another 10% of Ukrainians have lived in ...

Friday, January 17

Businesses have increased their activity and investment forecasts for the next 12 months.

Businesses have increased their activity and investment forecasts for the next 12 months. For the second month in a row, businesses have improved their business activity estimates for the next 12 months, maintaining optimistic forecasts for attracting investment but anticipating moderate i...

Ukraine’s reconstruction: Poland is ready to organize a summit next year, Ukraine will spend €100M this year, and Britain to provide $47M.

Ukraine’s reconstruction: Poland is ready to organize a summit next year, Ukraine will spend €100M this year, and Britain to provide $47M. Poland is ready to organize a Ukrainian reconstruction summit in 2026, Polish Prime Minister Donald Tusk said. Meanwhile, the third stage of the Ukraine Recovery Program has begun. The Ukrainian gover...

News from Ukraine’s gas production sector.

News from Ukraine’s gas production sector. The Association of Gas Extracting Companies of Ukraine reports that in 2024, total gross natural gas production in Ukraine amounted to 19.12 billion cubic meters (+2.3% compared to 2023). The companie...

Ukraine has signed a memorandum to create a hydrogen supply corridor to the EU.

Ukraine has signed a memorandum to create a hydrogen supply corridor to the EU. The GTS Operator of Ukraine and several domestic and international organizations signed a memorandum to create and implement the Central European Hydrogen Corridor. The memorandum outlines joint effor...

New details about the new Knauf plant in the Ternopil region: The German company is relocating one of its factories to Ukraine.

New details about the new Knauf plant in the Ternopil region: The German company is relocating one of its factories to Ukraine. German Knauf, one of the world’s largest manufacturers of building materials, plans to launch a second factory in Ukraine by the end of the year. However, the company will not build the factory ...

Thursday, January 16

Trump may use sanctions to finish off Moscow, which is running out of money for the National Welfare Fund.

Trump may use sanctions to finish off Moscow, which is running out of money for the National Welfare Fund. German energy analyst Tom O’Donnell said that the latest US sanctions could significantly harm Moscow, and that generally, sanctions against Russian oil could become a key weapon for US Presiden...

In 2024, industrial parks attracted investment despite the war.

In 2024, industrial parks attracted investment despite the war. By the end of 2024, 25 factories in economic sectors including food production, agro-processing, building materials production, woodworking, and mechanical engineering have been built or are being bui...

Experts provide a forecast for the Ukrainian mortgage market in 2025.

Experts provide a forecast for the Ukrainian mortgage market in 2025. Ukrainian banks predict that, with favorable economic and military conditions in 2025, about 40% of all mortgage loans issued under the eOselya program may be used in the primary housing market. The p...

New EU sanctions against Russia: Which sectors will be hit?

New EU sanctions against Russia: Which sectors will be hit? The EU may include a ban on aluminum imports in the 16th package of Russian sanctions, which will be adopted in February. The ban will be implemented in stages. The US and Britain have already banned ...

Ukraine plans to introduce taxes on income from digital platforms.

Ukraine plans to introduce taxes on income from digital platforms. With the move, the state expects to receive ₴10B annually from Glovo, Bolt, Uklon, and others. In April 2025, the Ukrainian government must submit to parliament a bill on the taxation of digital platf...

The EC continues to work on a roadmap to eliminate Russian gas.

The EC continues to work on a roadmap to eliminate Russian gas. The European Commission is working on a roadmap to end its dependence on Russian gas, said EC spokesperson Anna-Kaisa Itkonen. “Much has already been done. With the advent of the new year, an im...

The NBU says buying a home has become more profitable, but Ukrainians are shying away from risk because of the war.

The NBU says buying a home has become more profitable, but Ukrainians are shying away from risk because of the war. Currently, price conditions in the real estate market are more favorable than before the full-scale invasion, but due to war risks, Ukrainians are not ready to invest in housing, the national bank sai...

While Ukrainians continue to flee the war, European countries are cutting back on support for refugees.

While Ukrainians continue to flee the war, European countries are cutting back on support for refugees. In 2024, Ukrainian citizens made more than 30.1 million border crossings, with about 2% (443,000 people) not returning, 230% more than in 2023. In total, over the almost three years of the war, around...

Wednesday, January 15

Tankers are anchored, and stocks are losing value: What is happening to the Russian oil industry after new US sanctions?

Tankers are anchored, and stocks are losing value: What is happening to the Russian oil industry after new US sanctions? At least 65 oil tankers have dropped anchor off the coast of China and Russia after the US announced a new package of sanctions. Data from ship tracking services show that five tankers have stopped mo...

Ukraine seeks to maintain access to the EU market.

Ukraine seeks to maintain access to the EU market. The government is completing internal preparations for negotiations with the EU on signing an agreement on industrial visa-free travel. Ukraine also seeks to extend economic visa-free travel and conso...

Ukraine opened 16 new agricultural export markets last year; what was traded?

Ukraine opened 16 new agricultural export markets last year; what was traded? Last year, the Ministry of Foreign Affairs and the State Service for Food and Consumer Protection helped Ukrainian agricultural producers open access to 16 new foreign markets. State officials note th...

Ukraine will face a shortfall of more than 500,000 workers.

Ukraine will face a shortfall of more than 500,000 workers. In 2025, the state may face a shortage of more than half a million qualified workers. The lack of qualified personnel is already significantly affecting wage dynamics, which in the context of GDP grow...

South Korean HD Hyundai will build a customs and logistics hub in the Lviv region.

South Korean HD Hyundai will build a customs and logistics hub in the Lviv region. The First Deputy Chairman of the Lviv Regional Development Agency, Andriy Godyk, met with representatives from the South Korean company HD Hyundai XiteSolution to discuss the supply of specialized equ...

Analysts sum up the Ukrainian real estate market’s annual results:

Analysts sum up the Ukrainian real estate market’s annual results: In 2024, 181 new buildings were put into operation in Ukraine. The largest number of completed objects is in the Kyiv and Lviv regions (excluding Kyiv). The average cost per square meter in dollars is...

Tuesday, January 14

Negotiation leverage: New oil sanctions will cause billions in monthly losses for Russia.

Negotiation leverage: New oil sanctions will cause billions in monthly losses for Russia. The White House stated that new restrictions imposed against Russia are “the most significant sanctions against its energy sector.” They will cost Russia billions of dollars every month, a...

Despite the shadow fleet, Russia is losing revenue from a key source of financing for its war in Ukraine.

Despite the shadow fleet, Russia is losing revenue from a key source of financing for its war in Ukraine. Russia’s oil export revenues fell by $1.1B to $14.6B in November 2024 due to lower oil prices and export volumes, according to a study by the KSE. In November, Russian crude oil exports by sea fell by...

Moscow’s secret war-financing scheme is on the verge of collapse as planned spending doubles.

Moscow’s secret war-financing scheme is on the verge of collapse as planned spending doubles. According to former Morgan Stanley and Bank of America financier Craig Kennedy, the Kremlin is using an additional war-financing scheme in the shadows through the use of preferential lending to defens...

Ukrainian warehouse real estate market trends at the end of the third year of war:

Ukrainian warehouse real estate market trends at the end of the third year of war: The commissioning of new facilities and high development activity – 200,000 square meters of warehouses are being built, and the low vacancy rate indicates the competitiveness and prospects of the war...

Six European countries have called on the G7 to lower the Russian oil price ceiling.

Six European countries have called on the G7 to lower the Russian oil price ceiling. Six EU countries have called on the European Commission to lower the price ceiling for Russian oil that has been set by the G7 countries. Measures aimed at reducing oil export revenues are crucial bec...

The Central Bank of Ukraine expects inflation to accelerate at the beginning of the year.

The Central Bank of Ukraine expects inflation to accelerate at the beginning of the year. In the first months of 2025, inflation will likely continue to accelerate because of lower harvests, pressure from business spending on energy supplies and labor, and the effects of a weakening hryvni...

The Ministry of Economy will increase financing for investment nannies in 2025 and launch around ten new projects with businesses.

The Ministry of Economy will increase financing for investment nannies in 2025 and launch around ten new projects with businesses. The Ministry of Economy plans to increase funding for the investment nanny projects in 2025, providing funds to dozens of new projects, said Deputy Minister of Economy Andriy Telyupa. Answering a ques...

Ukraine seeks an investor for an engine parts manufacturing enterprise that exports products to 35 countries.

Ukraine seeks an investor for an engine parts manufacturing enterprise that exports products to 35 countries. On March 12, the State Property Fund will sell the state’s 100% stake of the authorized capital belonging to the Motordetal-Konotop enterprise in the Sumy region. The plant produces cylinder lin...

Monday, January 13

Head of Piraeus Bank in Ukraine Has Been Elected Chairman of the FLIFI.

Head of Piraeus Bank in Ukraine Has Been Elected Chairman of the FLIFI. CEO of Piraeus Bank in Ukraine, Yannis Kyriakopoulos, has been elected Chairman of the Forum of Leading International Financial Institutions (FLIFI), which operates under the umbrella of the American ...

NATO will not support Trump’s calls to increase defense spending to 5% of GDP and seeks compromise.

NATO will not support Trump’s calls to increase defense spending to 5% of GDP and seeks compromise. Trump recently said that NATO countries should spend 5% of their GDP on defense. No NATO country, including the US, has reached the 5% spending target. NATO officials agree with the need for further i...

Ukraine has produced the first million cubic meters of biomethane, and the selection of communities to launch waste-fired CHPs is underway.

Ukraine has produced the first million cubic meters of biomethane, and the selection of communities to launch waste-fired CHPs is underway. The first two biomethane producers in Ukraine pumped their first million cubic meters of biomethane into underground gas storage facilities in the last months of 2024, said the head of the Bioenergy A...

Construction in Ukraine grew by 23.8% in the first three quarters of 2024.

Construction in Ukraine grew by 23.8% in the first three quarters of 2024. Last year, every fifth Ukrainian developer joined eOselya, the state’s affordable housing lending program, and sold real estate under the program that was in the construction stage. In the first...

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