Thursday, November 18

Manipulation of European funds by Ukrainian officials will be the basis for DTEK Renewables lawsuits in the international courts.

The Ukrainian Guaranteed Buyer has acknowledged manual intervention in distributing the European targeted loan to repay debts to green investors, including DTEK Renewables. One result of the Illegal actions by several officials led to a fall in the valuation of the DTEK Renewables Eurobonds. As a result, Eurobonds and Ukraine’s sovereign credit indicators also fell. DTEK Renewables now requires the Guaranteed Buyer, Oschadbank, the Cabinet of Ministers of Ukraine, and the President’s Office to ensure the fastest payment of debts to the company. Further delays will be seen as increasing political and financial pressure on the business.

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Gazprom does not currently plan to increase gas supplies to the European Union.

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The newly-elected Chancellor, Olaf Scholz, is ready to support Ukraine’s move towards EU membership. The coalition agreement of the new German government contains a clause stating its readiness to support Ukraine’s movement towards membership in the European Union. The agreement reads, “We will work together with the EU and its Member States to further develop the Eastern Partnership and a market economy. It is also noted that the German government will continue to assist Ukraine in restoring its full territorial integrity and sovereignty”.

A senior EBRD delegation is starting a week-long trip to Ukraine to meet with the country’s authorities and private sector companies. The delegation will include Alain Pilloux, the Vice President of Banking and in charge of Bank lending; and Mark Bowman, the Vice President for Policy and Partnerships.  The visit is to reconfirm the EBRD’s support for Ukraine, its reform agenda, and sustainable development. Discussions will focus on the decarbonization of the Ukrainian economy in line with the country’s updated Nationally Determined Contribution, the development of sustainable infrastructure, and the investment