Ukraine’s Health Ministry has reportsed. In this strictest form of quarantine are: Kyiv City and 10 regions — Cherkasy, Chernivtsi, Ivano-Frankivsk, Kyiv, Lviv, Mykolaiv, Odesa, Sumy, Zhytomyr and Zakarpattia.
Ukraine’s Health Ministry has reportsed. In this strictest form of quarantine are: Kyiv City and 10 regions — Cherkasy, Chernivtsi, Ivano-Frankivsk, Kyiv, Lviv, Mykolaiv, Odesa, Sumy, Zhytomyr and Zakarpattia.
Ukraine’s offering of dollar Eurobonds was three times oversubscribed Friday, causing the Finance Ministry to raise the final volume by 20%, to $600 million, and to push the rate down to 6.2%, one full percentage point below the yield for a similar 12-year issue last July. “The estimated yield of 6.20% is the lowest yield on public Eurobonds in US dollars in the history of Ukraine,” Finance Minister Serhiy Marchenko said in a statement posted on the ministry website. Five
Tomorrow’s auction of government hryvnia bonds should draw more foreign buyers, analysts predict. Last week saw an uptick of foreign buying — $79 million – breaking a fall in foreign holdings since January. Fueling interest are: high yields – 12.25% for 4-year bonds, and a sense that the hryvnia/dollar exchange rate has stabilized after a 20% drop earlier this year. Since the start of the year, foreign holdings of the bonds dropped 34%, reports the National Bank of Ukraine. On
The World Bank approved Friday night a $300 million loan to help “prevent around 1 million Ukrainians from falling into poverty due to the COVID-19 pandemic,” the Bank’s Board of Executive Directors reported from Washington. The loan is designed to get “fast cash transfers to individuals and households who have lost their jobs or income sources because of the pandemic,” the Bank said. “According to World Bank estimates, 60 percent of the Ukrainians who may fall into poverty because of
The EBRD’s new loans to Ukraine projects will hit €750-850 million this year, a ‘big increase’ over the average of the last four years, Matteo Patrone, EBRD managing director for Eastern Europe and the Caucasus, told the UkraineInvest conference Friday. Separately, the European Investment Bank is extending €1 billion in loans to Ukraine, making it the main loan recipient from the Bank in the ‘Eastern Neighborhood’, EU’s designation for 26 nations surrounding the EU.
Ukraine is to receive $250 million in US military aid under a defense spending bill approved Friday by the U.S. Senate in a 84-13 vote. Earlier in the week, the House of Representatives approved the bill by a similar overwhelming majority. Ten days ago, President Trump threatened to veto the bill over non-Ukraine issues. A Senate summary says the bill “authorizes US$250 million for the Ukraine Security Assistance Initiative, including US$75 million for lethal assistance, and extends the authority to
Ukraine plans to transfer all of the nation’s seaports to concessions or private ownership by 2025, Infrastructure Minister Vladyslav Krikliy told an online international investment conference Friday. Noting that concession contracts with foreign investors were signed this summer for two ports – Olbia and Kherson – he said that next in line for concessions are the rail, ferry and container terminals of Chornomorsk and the passenger terminal at Odesa port. Next will be concessions of Berdyansk, on the Azov, and
By 2022, the government plans to reach concession agreements for highways, airports, rail stations and other infrastructure facilities, Prime Minister Shmygal said at the conference, which was organized by UkraineInvest. Speaking to an estimated 1,000 participants from 63 countries, he said: “During 2021-2022, it is planned to conclude concession agreements for seaports, highways, airports, railways and other infrastructure facilities.” He also said that over the next four years, President Zelenskiy wants Ukraine to climb into the top 30 of the World
In the first half of next year, the State Property Fund plans to start the privatization of the United Mining and Chemical Company, the First Kyiv Machine-Building Plant (formerly Bolshevik), and stakes in six regional power companies, the head of the Fund, Dmytro Sennychenko, said Thursday at the Ukrainian Investment Roadshow. Last spring, the Rada suspended all major privatization auctions after coronavirus restrictions shut down almost all air travel. Sennychenko said he expects the Rada to lift the ban this
Ukraine will receive – free of charge — enough Covid-19 vaccines to vaccination 4 million people this spring, Ukraine’s Chief Sanitary Doctor Viktor Liashko wrote Saturday on Facebook. In addition, Ukraine is budgeting $90 million to buy vaccines to inoculate another 13 million people. This would cover a little less than one half of Ukraine’s current population, estimated at 37 million. In a recent poll by the Rating Group, 40% of respondents said they would not take a vaccine, even
Coronavirus hospitalizations jumped 25% in November, over October, to 63,958 cases, reports Ukraine’s National Health Service. On Friday, deaths hit a record level — 285. New cases reported are averaging about 13,000 a day, but many cases are never reported. On Friday, Odesa Mayor Hennadiy Trukhanov became the latest politician to be hospitalized for coronavirus. Since September, President Zelenskiy and the mayors of Kyiv, Kharkiv and Lviv have been hit by Covid.
Due to Thursday afternoon’s ice storm, flights in and out of Kyiv’s two airports were disrupted through noon on Friday. With Kyiv Sikorsky closed for several hours, Wizz Air cancelled two flights to Germany. A Wizz Air flight to Vilnius did not return to Kyiv and a Belavia flight from Minsk did a U-turn and returned to it base. The glaze over the city caused numerous traffic accidents and falls by pedestrians. A CCTV video of a woman trying to
FlightGlobal, a US-based news site, recalls that last year, Ukraine’s Antonov sought to seize five An-124 cargo jets operated by Volga-Dnepr because the Russian air cargo company performed life extension modifications on the planes without Antonov’s permission or participation.
With its East-West gas pipelines, Ukraine would like to become a major supplier of hydrogen to Germany, Prime Minister Denys Shmyhal said Tuesday at the first German-Ukrainian Energy Day. “The development of hydrogen energy is a priority for Ukraine,” he said, alluding to the fast growing energy source. “It is an opportunity to use the existing potential of green energy and attract investments in the development of a green economy.”
Anka Feldhusen, Germany’s ambassador and host of the event, cautioned that Ukraine should first pay its $1 billion debt to wind and solar producers. One of 11 ambassadors to send a letter last month to Shmyhal about the mounting debt, Feldhusen said diplomatically: “I would not want Ukraine to lose its attractiveness to foreign investors because of this story.”
In Ukraine, DTEK is the pioneer in the hydrogen energy field, becoming Ukraine’s first company to join Hydrogen Europe, an association where European leaders exchange strategies and forge partnerships in hydrogen technologies. Emanuele Volpe, DTEK’s Chief Innovation Officer, said at the conference: “DTEK plans to launch a local hydrogen pilot project that will act as a catalyst for gradual development of the sector and accelerate the introduction of regulatory, technical, commercial, and logistics measures required to give a boost to the
Ukraine’s central bank decided yesterday to keep the prime interest rate at 6%, the level unchanged since June. Although inflation in November rose to 3.8%, the National Bank of Ukraine does not see it as an immediate threat. “Cooperation with the [IMF] remains fundamental for the recovery of Ukraine’s economy,” wrote a message posted on the bank website. “Financing provided by the IMF and other international partners is crucial for the planned budgetary spending.”
In a housecleaning exercise, the Cabinet of Ministers decided Wednesday to transfer 18 enterprises of the UkrOboronProm defense conglomerate to the State Property Fund for privatisation. With a total value listed at $10 million, the companies are expected to be sold largely for their scrap metal and real estate. Of the 18 companies, 11 no longer function. Five lost a total of $530 million during the first half of this year. A legacy of the Soviet military industrial complex of the
The Russia-Ukraine military divorce deepened last week after Russian Helicopters accused Ukraine’s Motor Sich of performing “illegal” overhauls of Mil Mi-17 helicopters for the Afghan Air Force, reports Moscow’s Ria Novosti. The Russians charge that the helicopters were designed and built in Russia and that any overhaul outside of the Russian manufacturer “endangers the lives of the American and Afghan soldiers that are operating these helicopters.”
The Black Sea Trade and Development Bank is extending at 9-year, €10 million loan to the Novopechersk School to build a new campus at Kyiv’s UNIT.City, nearly tripling enrolment to 1,200 students. Zoya Litvin, head of Osvitoria, the controlling non-profit association, says the K-12 school “will focus on STEM and IT, sectors that will develop the fastest in the future.” Litvin’s husband, Vasily Khmelnitsky, is developing UNIT.City as Ukraine’s largest hub for IT companies. Built on the 25-hectare grounds of a former motorcycle factory,
Parents of Kyiv’s French school are voting through Wednesday on an 18-month, €12 million project to build a 6,000 square meter unified campus at Unit.City. The project for Lycée Français Anne de Kiev would bring under one roof 750 K-12 students who now are divided among three buildings in central Kyiv and Podil. French government guarantees could cover bonds or loans raised to finance construction.
Ukrainians’ spending on foreign travel dropped in half this year, to $4.5 billion from $8.7 billion, Dmitry Sologub, a deputy governor of the National Bank of Ukraine, told reporters yesterday. “It was a significant factor in improving our current account,” he said. “Travel companies from March to June did not buy foreign currency at all, then they began to buy, but purchases remained low.” He expects foreign travel spending to rebound slowly next year, probably to $5 billion.
Starting March 28, UIA promises to gradually, but “completely restore” its international route network, the airline says in a note posted on its siteyesterday. Ukraine’s flag carrier plans to restore 43 international routes, including flights from Kyiv Boryspil to: New York, Toronto, Cairo, Delhi, Dubai, Jeddah, London Heathrow and London Gatwick, and 22 EU cities. Domestic flights will be operated from Kyiv Boryspil to: Dnipro, Ivano-Frankivsk, Kharkiv, Kherson, Lviv, Odesa and Zaporizhia. MXP) – Kyiv, and Kyiv – Nice (NCE) – Kyiv.
Windrose Airlines has applied to the US Department of Transportation to fly passengers and cargo between Ukraine and New York, reports the US-based aviation news site, One Mile at a Time. The airline, controlled by Ihor Kolomoisky, recently leased an Airbus A330-200, a wide body, two-aisle plane which can seat 400 passengers in three classes. “The airline will apparently use this A330 for charter services to New York and Hong Kong,” writes the news site, citing the US filing. “Windrose further anticipates
Passenger traffic at Kyiv Sikorsky through November totalled 670,900 passengers – 18% of the level of the first 11 months of last year. In November, Kyiv’s right bank airport handled only 13% the volume of November last year. The airport is on track to finish this year with a passenger volume slightly below 2013.
In December, “the probability of a complete coronavirus lockdown is 90%,” David Arakhamia, head of the ruling Servant of the People Party in the Rada, said on Ukraina TV’s Segodnya show Saturday. In contrast to last spring’s general shutdown, this would be a ‘smart’ lockdown he said, intimating that the Kyiv metro and many public services would work until Dec. 25, the western Christmas, now an official holiday in Ukraine.
Betting that online sales will keep surging, Allo Group, the consumer electronics retailer, is launching its own nationwide delivery service, Allo Express in Ukraine. Citing “today’s realities,” Allo CEO Maksym Raskin said the company decided to “to invest in the creation of our own postal operator.” The package delivery service will have desks in each of Allo’s 140 stores in Ukraine.
In preparation for a lockdown, a law to give financial aid to 2 million salaried workers hit by coronavirus controls goes into effect next week, Arakhamia told reporters on Saturday. These one time payments are to go up to $280 per person. The overall budget will be about $500 million, Yulia Kovaliv, the President’s deputy chief of staff said Thursday night on 1+1 TV’s Right to Power show.
About 10% of Ukraine’s small and medium businesses are on the verge of bankruptcy due to corona controls, Dafina Gercheva, resident representative of the United Nations Development Program, estimates in an interview with Interfax-Ukraine. By the end of December, the corona controls and recession will have put more than 9 million people – one quarter of Ukraine’s population — in financial distress, the UNDP predicts.
New coronavirus infections doubled in November, hitting an average of 16,250 a day on Friday and Saturday. In Kyiv, the number of new cases hit a record 1,739, Mayor Klitschko said Saturday. In Lviv, two patients, one aged 61 and the other 66, died Friday after a power outage knocked out their ventilators for one hour. Over the last eight months, 12,093 deaths are attributed to Covid-19. Immunologist Andrii Volyanskyi predicts on Facebook that another 25,000 Ukrainians will die of
Work on laying Nord Stream 2 gas pipeline could resume this weekend in the Baltic Sea waters of Germany, near the Adlergrund shoal, reports Deutsche Welle. The local Stralsund Waterway Authority is advising ships to be careful when navigating the area starting Saturday. Meanwhile, Nord Stream 2 AG, gas pipeline company, says: “We plan to resume pipe-laying work using a vessel with anchor positioning in the exclusive economic zone (EEZ) of Germany this year.” With the US Congress preparing more
Canada’s Vermilion Energy has backed out of two production sharing agreements it won last year with Naftogaz, reports OilPoint, citing Ukraine’s state oil and gas company. The Calgary-based company “has decided not to participate in the projects due to significant reductions in gas and oil prices compared to 2019, the coronavirus pandemic and the global economic downturn,” Naftogaz said referring to the two sites, Balaklia and Ivanovo. Instead, Naftogaz will go it alone, investing $125 over the next five years
Undeterred by this setback, Naftogaz is open to working with a foreign company, particularly Romanian, to develop the Dolphin block, in the Black Sea near the Danube delta and Romania’s maritime border. Working jointly with Romania to develop the shelf may be “more economically attractive” for Ukraine, and would create better security since Romania is a NATO member, Lana Zerkal, adviser to the Naftogaz CEO, said Friday at an online briefing. However, Exxon Mobil has been mulling selling its 50%
But this year’s slump in oil and gas prices makes Ukraine unattractive to oil and gas producers, say experts interviewed by UNIAN. “I honestly think that the chances of attracting serious Western investors are minimal,” Gennadiy Kobal, founder of EXPRO Consulting, told the news agency Friday. “The record decline in gas prices has led to the fact that oil and gas companies have lost a significant part of their capitalization.”
Regarding the Dolphin block, Vitaly Radchenko, partner at CMS Cameron McKenna, said: “We have talked with many normal real, producing, foreign oil and gas investors. We worked with them to get them interested in the Black Sea shelf. The territory is viewed as controversial and dangerous. None of the real investors will come there to drill, because it could end up in a conflict with Russia. Therefore, giving the shelf for research to the state gas company is a logical
With winter temperatures increasingly mild, the Dnipro River shipping season is being extended for one extra month – to the end of December. Originally, the river’s six locks were to start closing in a north-south sequence in mid-November. But shippers, notably Nibulon, lobbied for an extended season, noting that last year serious ice did not start forming on the river until January. Under the direction of the State Maritime and River Transport Service, closing the river involves pulling out hundreds
The $15 billion Istanbul Canal, an artificial alternative to the Bosporus, has reached the tender stage, Turkish President Recep Tayyip Erdogan said Friday. Expected to take a decade to dig, the 500-meter wide canal would allow liquefied natural gas cargo ships to enter the Black Sea for the first time. Further weakening Russia’s position in the Black Sea, the canal would not be subject to the Montreux Convention. This 1936 agreement places limits on the size and number of non-Black
Prime Minister Shmygal started a two-day visit to Turkey yesterday with a meeting with Turkish business executives in Istanbul. Appealing for Turkish investment, he said: “We have ambitious plans to build and renovate our infrastructure, including roads, bridges, energy and medical infrastructure, in other areas – water supply, sewerage, garbage recycling. Turkish companies have successful experience in these areas.” Today, he meets with government leaders in Ankara to discuss military and diplomatic cooperation. Leading a delegation of two ministers and
Ukraine plans to purchase five more Turkish-made Bayraktar Tactical Block 2 unmanned aerial vehicles next year, Turkish media report. Last month, Azerbaijan used these armed drones in its successful war with Russia-backed Armenia. Signaling a closer partnership with Turkey, Ukraine’s Foreign Minister Dmytro Kuleba told Turkey’s Anadolu Agency Friday: “Ukraine, looks at the Nagorno-Karabakh issue from the perspective of international law. Our position is very clear. We are on the same page with Turkey.” In the second half of December,
The government yesterday granted Naftogaz the right to develop a massive Black Sea gas block without a tender. The Dolphin block, near Ukraine’s portion of the Danube river delta, is believed to hold at least 1 trillion cubic meters of gas – more than double the big Black Sea find announced recently by Turkey. “This means the possibility of producing up to 10 billion cubic meters per year,” Ukraine’s state oil and gas company announced on Facebook. In recent years,
Seismic work could involve $40 million of investments in the first year, Naftogaz said on Facebook. “This means the possibility of attracting international investors, and at the same time – on the best terms for Ukraine,” the company wrote yesterday. Last month, Naftogaz unexpectedly pulled out of a $500 million Eurobond sale despite it being oversubscribed. Yesterday’s no tender decision by the Cabinet of Ministers cuts permitting delays. “The company will be able to start developing the shelf immediately after
Last year, an American company, Trident Acquisitions, won a competitive tender to develop the offshore block. The incoming Zelenskiy government refused to accept the results of this ‘Poroshenko tender.’ The issue languished for one year. Last night, Ilya Ponomarev, CEO of Trident, emailed the UBN: “This story has ended as we have predicted – no major [foreign energy companies], just no one showed up. So, the government threw our $1 billion offer out of the window. [Now it] will spend
Ukraine has become a key player in the EU natural gas market, storing 10 billion cubic meters of gas this fall for gas traders. With the European heating starting last month, Ukraine, for the first time in history, started re-exported stored gas to EU countries. “A significant milestone for the gas market is the start of the re-export of gas that was previously imported to Ukraine from the EU,” Sergei Makogon, CEO of the Operator of the Gas Transportation System
Europe’s Green Deal commitment to renewables, hydrogen and decarbonizing energy sources “means that between 2030 and 2040, Europe may see a radical drop in demand for natural gas,” Andrian Prokip, wrote in a Kennan Institute essay: “New Era of Gas Wars between Ukraine and Russia? “That would likely mark the end of Russia’s energy expansionism.”
In reaction, Gazprom and Rosatom, the nuclear corporation, recently signed a deal to hydrogen production in 2024. Uniper, the German energy giant, says Nord Stream 2 could be repurposed to carry a blend of 80% hydrogen and 20% natural gas.
Rozetka.ua, Ukraine’s largest online store is seeing record number of visitors to their site – 5.6 million on Tuesday. With the retailer’s ‘Black Friday’ sales going on all week, Vladyslav Chechotkin, Rozetka owner wrote on Facebook that some items already are running out. “Sales hit records,” he wrote. “We have run out of many products already, despite our large purchases.” The most popular items are: laptops, TV sets, vacuum cleaner robots, electric grills, men’s boots, women’s sneakers, and Lego blocks.
The EU ‘Hydrogen Strategy’ calls for dividing EU hydrogen production between the EU and its eastern neighbors. “This strategy stipulates that ‘the Eastern Neighborhood, in particular Ukraine, and the Southern Neighborhood countries should be priority partners,’” writes Prokip, an energy expert for the Wilson Center. “Ukraine could become a key partner of the EU in the production and export of hydrogen. In light of Ukraine’s current diminished role in natural gas transit…hydrogen export may become the basis for a revitalized,
“Joe Biden Is Unlikely to Save Angela Merkel’s Pet Project,” headlines a Bloomberg article yesterday about the $11 billion, 1,239 km Russia-German Baltic Sea gas line. “U.S. opposition is likely to remain under Biden,” Bloomberg writes about Nord Stream 2. “There’s American cross-aisle agreement” against Nord Stream, Ursula von der Leyen, European Commission President and Angela Merkel’s former defense minister, told Germany’s Die Zeit newspaper earlier this month.
Democrats should not go wobbly on Nord Stream 2, The Wall Street Journal warns in an editorial: “Congress shouldn’t back off Russia sanctions in the annual defense bill.” “The incoming Democratic Administration wants closer cooperation with Western Europe,” wrote the conservative US newspaper. “That shouldn’t come at the cost of increasing NATO vulnerability to Russia. Congress would assist U.S. and European strategic interests if it gets the Nord Stream sanctions over the finish line in the lame duck session.”
The US Congress is targeting insurance companies in the latest strategy to stop the pipeline, Bloomberg reports from Washington. “House and Senate negotiators agreed to target insurers and technical certification companies working on the project in a defense bill that must pass by the end of the year.”
In advance of passage, US officials already are contacting companies to warn they may face sanctions, DPA reports from Washington. “We’re in the process of calling a number of these companies to make them aware that they’re likely engaged in sanctionable activity,” an official reportedly tells the German news agency.
The American Chamber of Commerce in Ukraine has presented its annual Thanksgiving Awards to Mykhailo Fedorov, Digital Transformation Minister, and to Paul Niland, founder of Lifeline Ukraine, a national suicide prevention hotline focused on helping military veterans. Fedorov said of his work to simplify government services: “We have already created a mobile application and portal of electronic services ‘Diia’, introduced the first digital passports in the world, launched registration of a business in 15 minutes.”