Finance

Sunday, March 16

The international order is shifting dramatically under Trump – what does it mean for Ukraine?

The international order is shifting dramatically under Trump – what does it mean for Ukraine? Ukraine Business Network (UBN Network) and Ukraine Business News (UBN) held a live event titled “War & Investments” in Kyiv on March 14. The main topic of discussion was Ukraine’s outl...

Tuesday, March 11

Finland initiates quicker access to a €50B Ukraine Fund.

Finland initiates quicker access to a €50B Ukraine Fund. Finnish Prime Minister Petteri Orpo stated that the most effective strategy for achieving peace now is to support Ukraine’s Armed Forces. “Ukraine currently has the strongest army in Europ...

Monday, March 10

EU countries will provide Ukraine with an additional €15B.

EU countries will provide Ukraine with an additional €15B. Several EU countries have pledged to provide Ukraine with additional financial assistance of €15B, European Council President Antonio Costa said after an EU summit in Brussels. The decision is part of...

Ukrainian individuals and businesses have boosted their investments in government bonds by 33%.

Ukrainian individuals and businesses have boosted their investments in government bonds by 33%. According to the Ministry of Finance, as of March 1 over ₴1.84T in government bonds were in circulation, while the investment volume by legal entities and individuals for the year climbed by 33% to ₴2...

Friday, March 7

MEPs urge the king of Belgium to facilitate the transfer of €250B in Russian assets to aid Ukraine.

MEPs urge the king of Belgium to facilitate the transfer of €250B in Russian assets to aid Ukraine. Dozens of European MPs have called on King Philippe of Belgium to support the confiscation of over €250B in frozen Russian assets and direct them to Ukraine’s defense and reconstruction. The par...

To curb inflation, the NBU raised its key policy rate to 15.5%.

To curb inflation, the NBU raised its key policy rate to 15.5%. The Board of the National Bank of Ukraine decided to increase the discount rate by one percentage point to 15.5% per annum and adjust the parameters of its interest rate policy framework. These decisi...

International partners continue to allocate billions of euros to support Ukraine across various sectors, from defense to food.

International partners continue to allocate billions of euros to support Ukraine across various sectors, from defense to food. The Dutch government plans to reserve €3.5B to continue supporting Ukraine in 2026, according to Prime Minister Dick Schoof. The funds will provide assistance next year, but they can be utilized this ...

The EC and EIB sign a €2B guarantee to support recovery projects in Ukraine.

The EC and EIB sign a €2B guarantee to support recovery projects in Ukraine. The European Commission and the European Investment Bank (EIB) have signed a guarantee agreement that will allow the EIB to invest at least €2B in urgent recovery and reconstruction projects in Ukrain...

Thursday, March 6

Foreign businesses in Russia have lost over $170B during the war.

Foreign businesses in Russia have lost over $170B during the war. According to KSE, since the beginning of the full-scale Russian invasion of Ukraine the total losses suffered by foreign business operating in Russia have exceeded $170B. The bulk of the losses are as...

JICA intends to finance energy and infrastructure projects in Ukraine instead of USAID.

JICA intends to finance energy and infrastructure projects in Ukraine instead of USAID. The Japan International Cooperation Agency (JICA) will explore the possibility of supporting energy and infrastructure initiatives in Ukraine that were previously funded by USAID, said Hideki Matsunag...

Wednesday, March 5

Major European powers discuss using Russia’s frozen assets as security guarantees for Ukraine more urgently.

Major European powers discuss using Russia’s frozen assets as security guarantees for Ukraine more urgently. According to the FT, the European countries’ peace plan envisages using frozen Russian assets worth more than €200B as security guarantees for Ukraine. France and Germany, which have long opposed conf...

Thursday, February 27

The US State Department is working to release additional funds for Ukraine.

The US State Department is working to release additional funds for Ukraine. Senior officials at the State Department are preparing a list of further exemptions to the foreign aid freeze for Ukraine that could allow it access to some economic and security assistance currently ...

Analysts: The amount of direct US aid to Ukraine is significantly lower than what politicians claim.

Analysts: The amount of direct US aid to Ukraine is significantly lower than what politicians claim. Over three years of full-scale war, the total financial aid that Ukraine has received from the US reaches $50.9B. Of this, $18.3B is military aid, while the remaining $32.6B consists of direct budget ...

How much aid have Ukraine’s allies promised since the start of the year?

How much aid have Ukraine’s allies promised since the start of the year? The EU and 11 other countries have announced military, financial, and humanitarian support packages for Ukraine since the beginning of the year. Here are new packages and previously announced support:...

Ukraine will receive €700M for a long-term demining program.

Ukraine will receive €700M for a long-term demining program. According to the Ministry of Defense, international partners will allocate this amount to Ukraine to purchase equipment for demining operations as part of a long-term program that has been operating s...

Wednesday, February 26

The EU still cannot reach a compromise on the confiscation of frozen Russian assets: Who is against it?

The EU still cannot reach a compromise on the confiscation of frozen Russian assets: Who is against it? Support is still not unanimous among EU states for the confiscation of frozen Russian assets held in the EU and it is unlikely that a decision will be made in March, said EU foreign policy chief Kaja ...

Tuesday, February 25

Ukraine will receive €3.5B from the EU in March.

Ukraine will receive €3.5B from the EU in March. 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, ...

Monday, February 24

The EU is working on the confiscation of frozen Russian assets held in the EU.

The EU is working on the confiscation of frozen Russian assets held in the EU. 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...

The war has not halted the Ukrainian M&A market, but it is altering its priorities.

The war has not halted the Ukrainian M&A market, but it is altering its priorities. 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 ...

Friday, February 21

Trumps statements concerning Ukraine are not justified: How much money has the US actually spent on Ukraine during the three-year war?

Trumps statements concerning Ukraine are not justified: How much money has the US actually spent on Ukraine during the three-year war? Since the start of Russia’s full-scale invasion of Ukraine in February 2022, the US Congress has allocated around $183B to Ukraine, not $350B as President Donald Trump claims, according to data from t...

Lending to small and medium-sized businesses is on the rise in Ukraine.

Lending to small and medium-sized businesses is on the rise in Ukraine. The proportion of hryvnia loans for small and medium-sized enterprises is increasing rapidly, with a 22.1% surge in volume over the past year, said Andriy Pyshny, NBU Chairman. “Throughout the y...

Where in Ukraine did investors put their money in 2024?

Where in Ukraine did investors put their money in 2024? Last year, there were no investment deals in Ukraine worth over $200M, whereas in 2023, the largest M&A deal reached a value of $500M, according to analysts. Foreign investors accounted for 45% of...

Thursday, February 20

Trump stated that it’s unclear how Ukraine spent the $350B in aid it received from the US; Zelenskyy corrects his counterpart’s figure.

Trump stated that it’s unclear how Ukraine spent the $350B in aid it received from the US; Zelenskyy corrects his counterpart’s figure. US President Donald Trump remarked that Washington allocated $350B in assistance to Ukraine, but “nobody knows where this money went.” He added that Ukraine “will have to pay or deal...

McKinsey recorded a recovery in the private equity market last year.

McKinsey recorded a recovery in the private equity market last year. After two years of uncertainty, the private equity (PE) market began to show signs of recovery in 2024. The main drivers were an increase in the number of deals, a rise in investment exits, and a decr...

Demand at primary government bond auctions has dropped to a low point.

Demand at primary government bond auctions has dropped to a low point. On February 18, the Ministry of Finance raised ₴249.42M for the state budget at an auction for domestic government bonds, which is ₴770.58M less than the previous week. These are the results from the ...

Tuesday, February 18

In Ukraine, household loans have become more expensive, even though banks attract funds at lower rates.

In Ukraine, household loans have become more expensive, even though banks attract funds at lower rates. In January 2025, Ukrainian banks raised their rates on household loans, according to operational data from the National Bank. Consequently, average interest rates on new bank loans to consumers in the...

Friday, February 14

Last year, Ukraine’s insurance market shrank by 36%: the NBU sums up the sector’s annual results.

Last year, Ukraine’s insurance market shrank by 36%: the NBU sums up the sector’s annual results. According to the National Bank, Ukrainian insurance companies specializing in non-life insurance increased collected premiums by 12% in 2024 and in the life insurance segment by 14%. Growth is occurri...

Thursday, February 13

Winning the Economic and Financial War in Ukraine.

Winning the Economic and Financial War in Ukraine. In advance of expected talks upon Trump’s presidency in early 2025, “land for peace” has become the catchphrase uttered by those who want a quick end to the war. Central among the innumerable c...

Wednesday, February 12

Ukraine can fund its defense in the war if adequate Russian sanctions are in place.

Ukraine can fund its defense in the war if adequate Russian sanctions are in place. As former US Deputy Secretary of State James Glassman noted, the US and the EU “did not pressure” Russia on the issue of sanctions because they overlooked the fact that Ukraine can replace...

The EU will follow the US’s lead and will review billions of euros in foreign aid allocation.

The EU will follow the US’s lead and will review billions of euros in foreign aid allocation. According to Bloomberg, the EU will review its foreign aid, shifting several billion euros to better align the bloc’s funding allocation “with its foreign policy interests in difficult int...

Ukraine’s largest oil producer wants to build 200 MW of green capacity in addition to gas generation.

Ukraine’s largest oil producer wants to build 200 MW of green capacity in addition to gas generation. Ukrnafta, part of the Naftogaz group, which, with the support of the EBRD, has planned projects to generate energy using its gas, is additionally working to attract investment to build around 200 MW o...

Tuesday, February 11

Ukraine plans to allocate ₴739B for weapons procurement in 2025, focusing on a transition to long-term contracts.

Ukraine plans to allocate ₴739B for weapons procurement in 2025, focusing on a transition to long-term contracts. This year, Prime Minister Denys Shmyhal announced a historic budget of at least ₴739B ($17.5B) for Ukraine’s weapons production and procurement program. He highlighted that the emphasis will be ...

Shares of Ukrainian companies are rising significantly as investors anticipate an end to the war.

Shares of Ukrainian companies are rising significantly as investors anticipate an end to the war. The index of Ukrainian shares on the Warsaw Stock Exchange, WIG Ukraine, reached pre-war levels at the end of last week, jumping by nearly 25% in just a few days. This surge reflects the Warsaw financ...

Friday, February 7

Ukrainian bonds rise on hopes for a Trump peace plan.

Ukrainian bonds rise on hopes for a Trump peace plan. According to Bloomberg, Ukrainian dollar bonds have increased for five consecutive days, reaching new records as investors show optimism about a potential peace settlement. Specifically, bonds maturin...

Tuesday, February 4

Greece calls on the EU to establish a €100B fund for its defense.

Greece calls on the EU to establish a €100B fund for its defense. Greek Prime Minister Kyriakos Mitsotakis, while preparing for a new EU defense strategy, has proposed creating a fund of at least €100B for the EU’s overall defense budget. Mitsotakis’ pro...

Monday, February 3

Ukraine is seeking Trump’s support for using frozen Russian assets to purchase American weapons.

Ukraine is seeking Trump’s support for using frozen Russian assets to purchase American weapons. According to the WP, Since Donald Trump took office as US president, Ukraine has stepped up its efforts to access the Russian Central Bank’s frozen assets to finance weapon supplies. Kyiv hopes ...

The NBU expects that Ukraine’s international aid will decrease.

The NBU expects that Ukraine’s international aid will decrease. The National Bank anticipates that Ukraine will continue to receive significant external financial support, particularly in 2025, but the amount will gradually diminish as the country’s economic...

Piraeus Bank forecasts an increase in the profitability of household and business deposits amid rising key rates in Ukraine.

Piraeus Bank forecasts an increase in the profitability of household and business deposits amid rising key rates in Ukraine. Igor Yakobchuk, Treasury Director at Piraeus Bank, stated to UBN that competition among banks for client liabilities and the NBU’s increase of the discount rate to 14.5% will result in a gradual...

Thursday, January 30

The freezing of US foreign aid: Ukraine will hold consultations on the resumption of assistance.

The freezing of US foreign aid: Ukraine will hold consultations on the resumption of assistance. President Zelenskyy instructed the government to prepare a report on suspended American support programs. “We will determine which of them are critical. We can provide some of the funding with o...

Demand for loans in Ukraine is growing; banks are planning to ease standards for consumer loans and tighten them for mortgages.

Demand for loans in Ukraine is growing; banks are planning to ease standards for consumer loans and tighten them for mortgages. Banks remain optimistic about lending, note an increase in demand for corporate and consumer loans, and predict loan portfolio growth over the next 12 months, according to an NBU survey. According to ...

Russian LNG, aluminum, and the shadow fleet: What is the new EU sanctions package targeting?

Russian LNG, aluminum, and the shadow fleet: What is the new EU sanctions package targeting? The 16th package of EU sanctions targeting Russia will not include a general ban on the import of Russian LNG. Instead, LNG supplies to terminals not connected to the EU’s common gas distributio...

The war’s cost: State debt has surged by 100% in three years, but default was avoided.

The war’s cost: State debt has surged by 100% in three years, but default was avoided. Since the onset of Russia’s full-scale invasion, Ukraine’s state debt has risen by 156% (+₴4.25T) in hryvnia and by 78% (+$72.7B) in foreign currency, according to Danylo Hetmantsev, chair...

Wednesday, January 29

Analysts have identified the advantages Ukraine would gain from receiving frozen Russian assets in their entirety.

Analysts have identified the advantages Ukraine would gain from receiving frozen Russian assets in their entirety. Confiscating $300B in frozen Russian assets would provide Ukraine with a better opportunity to win the war, the most critical issue for the country today, according to Bill Browder, head of the Britis...

Tuesday, January 28

New opportunities arise to confiscate Russian assets.

New opportunities arise to confiscate Russian assets. A significant portion of the Russian assets that were stored in debt securities in the Belgian Euroclear depository, is now resting in accounts belonging to correspondent banks in cash after the secur...

NBU: Commercial and consumer lending is trending up in Ukraine.

NBU: Commercial and consumer lending is trending up in Ukraine. In 2024, Ukrainian banks saw their net commercial loan portfolios grow by ₴65B (21%) and their consumer loan portfolios increase by ₴62B (39%), said Andriy Pyshnyy, Chairman of the NBU. According to h...

Monday, January 27

What leverage will enable Trump to achieve peace in Ukraine?

What leverage will enable Trump to achieve peace in Ukraine? To force the leaders of Russia and Ukraine to the table and begin serious peace talks, US President Donald Trump needs leverage. Steven Pifer, a former US ambassador to Ukraine, believes that this sho...

The US wants to provide Ukraine with weapons using frozen Russian assets, and Europe will pay for it.

The US wants to provide Ukraine with weapons using frozen Russian assets, and Europe will pay for it. The US President’s Special Envoy for Ukraine and Russia, Keith Kellogg, said that the US is mulling the possibility of purchasing American weapons for Ukraine using frozen Russian assets. “...

Euroclear is wary of the negative consequences of confiscating Russian assets.

Euroclear is wary of the negative consequences of confiscating Russian assets. Confiscating frozen Russian assets could have unintended consequences that would hurt the international financial system, said Valerie Urben, Euroclear CEO, which holds most of Russia’s frozen a...

Friday, January 24

The National Bank of Ukraine has raised the key policy rate to 14.5% per annum.

The National Bank of Ukraine has raised the key policy rate to 14.5% per annum. The NBU increased rates on overnight certificates of deposit, three-month certificates of deposit, and refinancing loans by 1 percentage point – to 14.5%, 17%, and 17.5%, respectively. This decision a...

The National Bank has worsened its 2025 key macro indicator forecasts.

The National Bank has worsened its 2025 key macro indicator forecasts. Considering security risks and the difficult situation in the labor market, the NBU has worsened its forecast for Ukraine’s 2025 GDP growth from 4.3% to 3.6%. At the same time, the bank predicts...

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