“No knockout, but new U.S. sanctions add to Russia’s ‘slow destruction,’ ” headlined a Reuters analysis out of London. Based on interviews with market participants, the reporters write of Washington’s sanction package: “Its move to target Moscow’s main funding avenue... #SanctionsAgainstRussia #ussanctions
The US, UK, and the EU have protested Russia’s ban on Ukrainian and foreign navy ships from the southern approach to the Kerch Strait . With the ban starting Saturday and lasting for six months, shippers worry that the ban will lead to curbs on shipping to Ukraine’s two ports on the Sea of Azov – Berdyansk and Mariupol. NATO Spokesp... #BlackSeaConflict #kerchstrait #RussianAgression
In coming days, two British warships – one destroyer and one frigate – are to enter the Black Sea, reported London’s Sunday Times. With foreign aircraft carriers effectively banned from the Black Sea by the 1936 Montreux Convention, the flagship of the Royal Navy’s carrier group, the HMS Queen Eliz... #BritishWarshipsBlackSea #BritishWasships #RussianAgression
Russia’s naval deployments in the Black and Azov Seas threaten to “block important trade routes in international waters,” Ukraine’s Defense Minister Andriy Taran warned the European Parliament’s subcommittee on Security and Defense on Wednesday. The bulk of Ukraine’s $103 billion in foreign trade last year moved by... #RussiaControlsBlackSea #RussianAgression
Russia’s Defense Ministry is closing the Kerch Strait to Ukrainian Navy and Sea Guard boats for six months, starting from Saturday April 24 through October. Commercial shipping is allowed passage. The Ukrainian Navy reported on Facebook: “Tonight, in the Azov Sea, Russian Federal Security Service boats atte... #RussiaControlsBlackSea #RussianAgression
On the pretext of naval maneuvers, Russia is closing major swaths of the Black Sea and several approaches R . On the Azov, the Mariupol port often ranks as Ukraine’s fifth busiest port, largely due to exports from Metinvest’s large scale Ilyich Iron and Steel Works. “This step is a gross violation of the ri... #RussiaatBlackSea #RussianAgression #RussianMilitaryMovements
By the end of April, Russia will have amassed an armada of 50 warships patrolling the Black and Azov Seas , calculated the Jamestown Foundation’s Eurasia Daily Monitor. Bolstering the Black Sea fleet, four large ships from the Baltic Fleet are making their way to the Black Sea. In addition, 15 smaller ves... #RussianAgression #RussiaPatrolingBlackSea #RussiaWarships
The US has cancelled the deployment of two US Navy ships to the Black Sea, Turkish diplomatic sources told Al Jazeera. After Turkey made the deployment public last Friday, Sergei Ryabkov, a Russian Deputy Foreign Minister, said the US ships should stay well away from Russia-... #USNavi #USNaviinBlackSea #USnaviships
Russia’s Navy threatens Ukraine’s sea routes, S&P Global Platts has warned in a story headlined: “Russian escalation in Ukraine yet to faze commodity markets.” “Russia could close off Ukrainian ports due to its control of Crimea and Black Sea chokepoints,” the authors warn. “Any limitation of ves... #RussianAgression #RussiathreatensUkraine
In Paris today, President Zelenskiy will discuss the growing Russian military threat with French President, Emmanuel Macron, and with German Chancellor, Angela Merkel, who will join by video conference. The three countries – plus Russia – are members of the ‘Normandy’ format of peace talks. The Normandy group has not met since December 2019. #AngelaMerkel #BigConstruction #EmmanuelMacron #Zelenskyy
With coronavirus lockdowns gripping much of Europe, especially Germany, SkyUp is dropping from its summer schedule of 15 flights to the EU, reported Avianews. Almost half of the flights were from Kyiv Boryspil to Germany: Berlin, Hanover, Nuremberg, Hamburg, Dusseldorf, M... #FlightstoEurope #skyup
Lakshmi Mittal, chairman of ArcelorMittal, told President Zelenskiy yesterday that his Ukraine unit is launching a ‘Steel Billion’ program, a nearly $1 billion investment to bring the steel maker in compliance with EU ‘green steel’ rules, according to the president’s website. By the end of 2023, ArcelorMittal Kryvyi Rih, Ukraine’s largest integrated steel company, plan... #ArcelorMittal #LakshmiMittal #SteelBillionprogram
Ukrainian companies are interested in contracts to rebuild areas in Azerbaijan damaged during the war last fall in Nagorno Karabakh , Ukraine’s Infrastructure Minister Vladislav Krikliy told Azerbaijan’s Energy Minister Parviz Shahbazov in Baku on Tuesday, reports Azernews. After Russia, Ukraine is Azerbaijan’s second largest trad... #AzeirbaijanandUkraine #rebuildingAzerbaijan
President Zelenskiy submitted to the Rada Tuesday a bill to liquidate the Kyiv District Administrative Court, headed by controversial judge Pavlo Vovk , reports the Kyiv Post. Among foreign and national investors, the court was widely seen as a bazaar where decisions went to the highest bidder. Last July, Vovk and other judges of the court were char... #KyivCourt #Zelenskyy
Ukraine’s international bonds and the Russian ruble rallied yesterday on the prospect of a Biden-Putin summer summit, reports Reuters. But the lengthy, London-based story starts: “Fund managers are trimming exposure to Russia and Ukraine on fears that years of tensions could finally erupt into outright war, bringing ... #Rubble #ukrainebonds
The massing of Russian troops on Ukraine’s borders has weakened demand for Ukrainian domestic government bonds , or IGLBs, Danylo Hetmantsev, head of the Rada Committee on Finance, Tax and Customs Policy, wrote after Tuesday’s hryvnia bond auction sold only the equivalent of $7.7 million. Writing on his Telegr... #BondDemand #Bonds #ukrainebonds
Starting today, Russia’s six-week suspension of tourist flights to Turkey is causing 533,200 canceled flight bookings, the Russian Association of Tour Operators, said yesterday on its site. If each Russian tourist spends $600, Turkey loses $300 million. On Monday, two days after President Zelenskiy’s successful meetin... #TukreyTourism #TurkeyandRussia
President Zelenskiy meets French President Emmanuel Macron in Paris tomorrow. The topic is French support against Russia’s troop buildup on Ukraine’s borders. With Germany’s Chancelor Angela Merkel retiring this fall, Macron is expected to become the EU’s senior leader. #EmmanuelMacron #FranceUkraine #Zelenskyy
Despite Covid, France-Ukraine trade remained strong last year, falling slightly to $2.1 billion. French brands account for about 20% of new car sales in Ukraine, with Renault the most popular. Last year, France exported $180 million worth of wine to Ukraine. Afte... #EmmanuelMacron #Zelenskyy
Ukraine’s third coronavirus wave may be receding, Health Minister Maksym Stepanov wrote yesterday on Facebook. Hospitalization rates are declining and Ivano-Frankivsk and Zakarpattia are no longer considered “red” zones. He reported that Tuesday “was... #Covidthirdwave #CovidUkraine #lockdownukraine
Kyiv’s lockdown has been extended for another two weeks – to Friday, April 30. “We don’t have a choice,” Mayor Klitschko said at a briefing yesterday. “Otherwise, the medical system won’t handle the load, and there will be even more deaths.” Schools and shopping centers will rem... #covid19ukraine #Kyivlockdown
Special mass transit permits have been distributed as follows: healthcare and pharmaceutical – 152,000; production and sale of food, defense industry, mechanical engineering – 104,000; government executives – 81,000; military, police, judiciary – 72,000; ho... #covid19ukraine #masstransit #masstransitKyiv
Hours before the Biden-Putin telephone call, Bloomberg published a story noting that yields on ruble bonds had hit their highest level in a year. Asserting that US financial sanctions were likely, the story was headlined: “Putin’s Ukraine Gambit... #JoeBiden #Putin #RubbleBonds
Before the news broke of the proposed Biden-Putin summit in late afternoon London time, the yield on Ukraine’s dollar bond due in 2032 reached 7.67%, the highest since November and taking the 3-day increase to 34 bps. Similarly, the yield on 2026-dollar debt climbed 12 bps to 6.78%. Ukra... #BidenPutinSummit #JoeBiden #Putin #RussianAgression
Ukraine may receive $2.7 billion from the IMF this summer under a plan by the International Monetary Fund Managing Director, Kristalina Georgieva, to allocate $650 billion from international reserves to restore the world economy after the coronavirus crisis.... #imf #IMFmoneyforUkraine #IMFtranches
Ukrzaliznytsia plans to issue a Eurobond this year, to partially cover for a disastrous 2020. Largely due to the coronavirus, a $110 million profit in 2019 turned into a $430 million loss in 2020, according to the State Railroad’s recently released Ann... #Ukrzaliznytsia
UZ has 250,000 employees, “while a modern railroad of this size could probably manage with around 120,000” Adomas Audickas, a member of the railroad’s Supervisory Board, wrote in an Atlantic Council essay: “How to Reform Ukrainian Railways.” While the railroad has lost 75% of its trans cargo due to Russian... #Ukrzaliznytsia #UZ #UZnewStrategy
Each ton of iron ore “is transported with a 19% loss for Ukrzaliznytsia, ” Sergii Leshchenko, another UZ board member, (Kyiv Post). Once an UZ freight train carrying iron crosses into Poland or Slovakia, “the tariff for ore transportation increases,” he wrote. “In Poland, ... #Ukrzaliznytsia #UZfreight
Volodymyr Zhmak is suing UZ and the Cabinet of Ministers for firing him last month. The reasons for his firing were not made public. Ivan Yuryk, the new Acting Head of the Company, is the 11th head in seven years. “The release of the chairman of the board six months after the appoint... #CEOofUZ #ukrzaliznytsa #UZceo #VolodymyrZhmak
Ukraine’s second multimodal terminal – moving containers from trucks to trains – has opened in Klevan, Rivne region. This ‘dry port’ on a 10-hectare lot is designed to handle 2,000 containers a month. Due to the lack of such cargo hubs, 80% of containers in Ukraine move by trucks on highways. Although growing fast, ... #ContainerHub #multimodalterminal
Pressured by Russia’s military threats against Ukraine , the Presidents of Turkey and Ukraine met for a three-hour meeting in Istanbul on Saturday and agreed to speed up reaching an agreement on a free trade pact between the two countries. The cross-Black... #TukreyUkraineFreeTrade #UkraineNATO #UkraineTurkey
“Ukraine turns to Turkey as Russia threatens full-scale war, ” reported Al Jazeera. Noting that it was President Zelenskiy’s second visit in six months to Turkey, the report said: “Ankara views Ukraine as a crucial buffer against Russia and has been a strong ad... #Defense #RussianAgression #UkraineRussiawar
Defense industry cooperation was discussed on Saturday during a parallel meeting between the Turkish Defence Minister, Hulusi Akar, and his Ukrainian counterpart, Andriy Taran . At the time of Zelenskiy’s last visit to Turkey last October, Vadim Nozdriya, the General Manager of Ukrspetseksport, announced that Ukraine would like to purchase 48 Bayraktar TB2 combat drones. Th... #Bayraktar #DefenseTechnology
Unhappy with Saturday’s visit, Russian officials this weekend discussed suspending Russian tourism to Turkey, reported the Vtimes in Moscow. Last year, approximately 7 million Russian tourists visited Turkey. The number of tourists has fluctuated, depending on Moscow’s mood. In 2016, 850,000 Russian tourists ...
Timothy Ash writes from London: “The message from the Kremlin is stay out of Ukraine, don’t supply drones as you did to Azerbaijan, or else we will ban Russian tourist visits to Turkey which earns $3-4 billion export earner for Turk...
Ukrainian Motor Sich engines are to power Turkey’s planned heavy attack helicopter ATAK-2 that is being developed by Turkish Aerospace Industries, or TAI. With the Ukrainian 2,500 hp turboshaft engines, the attack helicopters will be produced by 2023, said TAI President Temel Kotil, accord... #motorsich #TurkishAerospaceIndustry
In a $1 billion deal, the largest for Turkey’s defense industry, Ukraine will purchase four Ada class ‘stealth’ corvettes for patrolling the Black Sea . The first ship is to be built in Turkey and the next three at Mykolaiv’s Okean shipyard, reported the shipyard. The deal was signed last December by Ukrainian Defense Minister Taran and Turkey’s top... #Adaclassstealth #Defense #TurkeyUkraine
This import deal damages Ukraine’s already ailing shipbuilding industry, complained Anatoly Kinakh, the President of the Ukrainian Union of Industrialists and Entrepreneurs. “The first ship will be manufactured there (with the participation of Ukrainian specialists),” he w... #ShipBuilding
Ukraine ranked second worldwide for projects undertaken by Turkish construction companies in 2020, said Burak Pehlivan, the Chairman of the International Turkish-Ukrainian Business Association, (Kyiv Post). Boosted by the Zelenskiy government’s ‘Big Construction’ program, Turkish companies have und... #BigConstruction #TurkeyUkraine
Driving up egg prices, Oleg Bakhmatyuk, owner of Avangard, the nation’s largest egg producer, has halved egg production over the last 18 months, to 170 million eggs a month. He has blamed the criminal prosecution by the National Anti-Corruption Bureau, saying it has cut him off from bank loans... #agroUkraine #Eggfarming #EggProduction
During the pandemic year, online shopping increased by 26% and shopping mall rents softened. Despite these conditions 20 new malls are expected to open across Ukraine by the end of next year. This will add a total of 1.8 million square meters of leasable area, reported the Kyiv Post. This year, Kyiv is to see the openings of Ocean Mall with 100,000 square meters and Blockbuster Phase 3, wi... #CommercialRealEstate #VaccancyrateUkraine
Ukraine’s real estate magnates were recently ranked by Forbes Ukraine. The top eight are: Viktor Polishchuk, owner of Gulliver and the Eldorado retail chain. $70 million Vagif Aliyev, developer of Blockbuster Mall, Lavina Mall, and Mandarin Plaza. $61 million Tomas Fiala, founder/CEO of Dr...
With the EU closed to Ukrainian tourists, local beach and rural retreat hotels may enjoy another boom this summer. Vodafone has reported that analytics of cell phone users showed a 30% yoy increase last summer at Ukrainian beach resorts. On the Azov, one hamlet, Bilosarayska Kosa, about 20 kilometers west of Mariu... #TurisminUkraine #UkraineVacation
Construction of the Istanbul Canal is to start this summer, said Turkish President Recep Tayyip Erdogan reported Anadolu Agency. Erdogan promised to have the canal open in time for the October 29, 2023 Centennial of the proclamation of the Turkish Republic. Th... #Istanbulcanal #RecepTayyipErdoğan
Smartphone sales increased by 6% last year, to 6.9 million, reported the analytics firm, International Data Corporation. Sales dropped during the second quarter lockdown, then came back with a roar, increasing by 37% yoy in the last quarter of 2020. This year,... #retailUkraine #SmartPhoneSales
Iranian military prosecutors have filed charges against 10 people allegedly involved in the January 8, 2020 shoot-down of a UIA passenger jet over Tehran, killing all 176 aboard. Last month, Iran made public a ‘final’ report, blaming an unidentified Tor-M1 air defense system operator who mistook the passenger jet for an American target. Canada, whose nationals account for almo... #IranandUIA #UIAairplaneAccident #UIAflightinIran #UIAplanecrash
Russia’s military buildup on Ukraine’s border and in Crimea “has also pushed Ukrainian sovereign bonds to their lowest level since November,” Reuters reported last night. Adamant Capital elaborated: “The price of Ukraine’s 11-year benchmark Eurobond (2032) has... #RussiaandUkraine #RussianAgression #RussianMilitary
Adamant analysts said: “We lean towards Moscow’s actions being more of a show of force rather than a real preparation for a confrontation…Crossing over [into the Donbas] once more, especially with the world closely watching... #RussiaandUkraine #RussianAgression
Capital investment by cross border investors in Ukraine decreased by $868 million last year, the first decline of Incoming Investment since 2015, Bohdan Danylyshyn, Chairman of the National Bank of Ukraine wrote on Facebook. He said: “The key reasons for the low interest of foreign investors in the Ukrainian economy are the weak and underdevelo... #InvestinUkraine #InvestmentsinUkraine #nbu
Ukraine’s restaurants and cafés lost almost 30% of their revenue last year, falling to about $500 million, the analytical group Restaurant of Ukraine reported on Facebook. The number of restaurants, cafes and bars fell by 21%, to 14,786.
