The current transit of Russian oil to the European Union through Ukraine, undoubtedly, takes into account the National Security and Defense Council’s sanctions against the Russian company Lukoil. However, its volume remains unchanged, indicating that the sanctioned company’s oil has been replaced by oil from other owners, Board Chairman of NJSC Naftogaz Ukrainy Oleksiy Chernyshov … Read more
Ukrainian entrepreneurs who have accounts in the American bank Mercury have received letters of termination of service. Ukrainian entrepreneur and founder of Petcube Yaroslav Azhnyuk shared the news on his LinkedIn page. The letter from the bank states that the decision is related to recent changes in the bank’s policy, which prohibits opening and maintaining … Read more
Ukraine has reached an agreement in principle with the committee of owners of Eurobonds of Ukraine regarding debt restructuring. Ukraine struck a deal with its creditors at the onset of the Russian full-scale invasion to postpone the payments due to the war’s pressure on the country’s economy. The deal to freeze payments of around $23 … Read more
Naftogaz, Ukraine’s state-owned oil and gas company, has accumulated 10 billion cubic meters (bcm) of gas reserves for the upcoming winter period, the company said on July 22. This represents almost 76% of the projected target of 13.2 bcm, which Naftogaz was tasked to accumulate by Nov. 1. The figure of 13.2 bcm goes beyond … Read more
Ukraine and the EU have approached Azerbaijan to discuss supplying natural gas to Europe via Ukraine once an existing contract with Russia expires at the end of 2024, President Ilham Aliyev said. All sides — including Ukraine, the EU, and Russia — are interested in continuing gas transit, Aliyev said at a conference on July … Read more
A global outage in IT systems affected Sense Bank, one of Ukraine’s largest banks, and Vodafone Ukraine on the morning of July 19. News emerged early on July 19 that airports were facing issues with their IT systems, leading to to delays to flights from cities such as Berlin, Sydney, and Edinburgh. The problem appeared … Read more
The Ukrainian parliament adopted a bill on July 18 granting the government the right to suspend payments on external public debt until Oct. 1. The bill was passed immediately in two readings and supported by 231 votes, lawmaker Yaroslav Zhelezniak said. The new law gives the government the right to suspend the payments – if … Read more
Ukraine’s Verkhovna Rada passed a bill on the phased increase of excise duty on motor fuel with 231 votes, MP Yaroslav Zhelezniak reported on Telegram on Thursday. The bill is to come into effect on September 1, 2024. “The Parliament passed bill No. 11256-2 on increasing the excise tax on fuel. The LPG amendment (No. … Read more
A group of Ukrainian bondholders have signed nondisclosure agreements to begin a second round of formal talks with the Ukrainian government to restructure more than $20 billion in debt, reported Bloomberg with reference to its sources. Negotiations began this week on the eve of the end of the moratorium on Ukrainian debt payments on August … Read more
The pace of the hryvnia weakening over the past few weeks may create additional risks for the resilience of the foreign exchange (FX) market and, consequently, for price stability, according to the National Bank of Ukraine (NBU). “Therefore, the National Bank is ready to take appropriate steps to build greater FX market resilience required for … Read more