The Ukrainian parliament has approved a decree on the introduction of economic sanctions against financial institutions in the Russian Federation, an MP from the Holos faction, Yaroslav Zheleznyak, reported on his Telegram on Feb. 23. The Verkhovna Rada supported the Decree of Ukrainian President Volodymyr Zelenskyy on the application of sectoral sanctions for 50 years against all … Read more
Ukraine’s National Agency on Corruption Prevention or NACP has declared French corporation Auchan Holding an international sponsor of war, the agency reported on Feb. 23. The corporation was added to the list as it had refused to stop financing the terrorist state since the beginning of Russia’s full-scale invasion of Ukraine and continues to operate in Russia. … Read more
By the end of 2023, JSC Ukrazaliznytsia can create a cargo carrier company that will work in the field of cargo transportation in Europe, Oleksandr Kamyshin, Ukrzaliznytsia board chairman, told Interfax-Ukraine. “It’s true, we must develop a European carrier in both passenger and freight traffic. We have shown that we can be effective, and those … Read more
Ukrainian Ministry of Digital Transformation plans to launch a military tech cluster in spring 2023, using the existing Innovation Development Fund, Ukrainian media outlet Babel reported on Feb. 20. The project is aimed at supporting specialists developing military technologies. The Minister of Digital Transformation, Mykhailo Fedorov, noted that this will be a platform for combining … Read more
The European Bank for Reconstruction and Development (EBRD) will invest a total of up to $24.5 million and will to take a stake of up to 35% in the M10 Lviv Industrial Park project that is developed by Dragon Capital, led by Tomáš Fiala, the EBRD reported on its site on Feb. 17. The M10 Lviv … Read more
The European Union has established an ad hoc working group to develop plans for the use of frozen and immobilized Russian assets to support rebuilding Ukraine, the Swedish Presidency of the Council of the EU tweeted on Feb. 15. “EU ambassadors today approved the establishment of an ad hoc working party on the use of frozen and … Read more
Ukraine reduced its nitrogen fertilizer production by 4.6 times in 2022, while tripling imports, the Ministry of Agrarian Policy said in a statement on the situation with fertilizers in Ukraine on Feb. 14. In 2022, Ukraine produced 1.13 million tons of nitrogen fertilizers, which is 4.6 times less compared to 5.2 million tons in 2021, the ministry … Read more
The European Commission proposes to extend free mobile roaming to Ukraine. This is the first instance of an extension of the EU internal market treatment to Ukraine. Financial Times reports this information, referring to the statement of the European Commission. If the proposal is approved, Ukrainians will be able to use free mobile roaming on … Read more
Cyprus T.A.S. Overseas Investments Limited from Sergiy Tigipko’s TAS Group intends to acquire over 25% in Austrian TransAnt GmbH (Linz), a joint venture (JV) established by Austrian ÖBB Rail Cargo Group and voestalpine Stahl GmbH to produce innovative and cost-effective railway freight cars. According to a message of the Antimonopoly Committee of Ukraine (AMCU) on … Read more
Fitch Ratings has downgraded JSC Ukrainian Railways (Ukrzaliznytsia, UR) Long-Term Foreign-Currency Issuer Default Rating (IDR) to ‘Restricted Default’ (RD) from ‘C’ following the execution of the consent solicitation to defer its debt servicing of its US dollar loan participation notes (LPN) maturing in 2024 and 2026. Fitch views the consent solicitation as a distressed debt … Read more