Shmyhal: Ukraine switching to war economy
The Government puts the economy on a war footing and takes all necessary steps to do so.
Economy - Latest news
10 March 2022
Zelensky: If there were enough sanctions, invasion would have stopped
Economic sanctions against Russia are still insufficient to stop the invasion of Ukraine. If this issue is not resolved now, the West will have to save other countries from the aggressor.
NBU has $27.7B in foreign reserves, seen as “sufficient” - governor
The National Bank has accumulated $27.7 billion in international reserves as of March 7, 2022, according to preliminary data.
Zelensky signs law on confiscation of Russian property in Ukraine
President Volodymyr Zelensky signed the Law of Ukraine "On the Basic Principles of Forcible Seizure of Objects of Property Rights of the Russian Federation and its Residents in Ukraine".
Nearly 100 U.S. companies pull from Russia – Markarova
Throughout the past two weeks, about 100 American business giants left the Russian market.
U.S. House of Representatives approves $13.6B in Ukraine aid
The U.S. House of Representatives has passed a spending bill totaling $1.5 trillion, which includes, among other things, emergency assistance to Ukraine and its allies worth $13.6 billion.
IMF grants Ukraine $1.4B in emergency financing
On March 9, the IMF Executive Board greenlighted $1.4 billion in additional financing for Ukraine under an emergency support program known as the Rapid Financing Instrument (RFI).
PM Shmyhal: Ukraine to buy out reserve of food in scope of its annual consumption
The state will buy out grain and other food stocks in scope of the annual consumption throughout the country at the expanse of the state budget.
09 March 2022
NBU calls on international partners not to service Russia’s MIR payment cards
The National Bank of Ukraine (NBU) has called on international partners not to service Russia’s MIR payment cards.
08 March 2022
Kuleba calls on global business to stop cooperating with Russia
Minister of Foreign Affairs of Ukraine Dmytro Kuleba has called on the global business community to stop cooperating with Russia and provide all possible support to Ukraine.
World wheat prices break 2008 record
Global wheat prices have exceeded the previous record high observed in 2008. Global food prices are also skyrocketing.
Russian military cause $10B worth of damages to Ukraine’s transport infrastructure
The Russian military have caused more than $10 billion worth of damages to Ukraine’s transport infrastructure.
Minister Leshchenko: Sowing campaign to start wherever possible
The 2022 sowing campaign in Ukraine will start wherever possible, considering military actions.
Embargo on Russian oil, gas to be in place, albeit without Europe so far - Kuleba
Minister for Foreign Affairs of Ukraine Dmytro Kuleba announced an embargo on Russian oil and gas to be imposed by foreign governments, which so far do not include European nations, as they are yet to find alternative energy sources.
06 March 2022
Ukraine to suspend certain exports
The Cabinet of Ministers of Ukraine has amended the quotas on products subject to licensing, resetting quotas for the export of a number of food products.
TikTok suspends operations in Russia
The social network TikTok has decided to suspend its operations in the Russian Federation.
05 March 2022
More global brands quitting Russian market
The international isolation of the aggressor power continues as more and more international companies are pulling out of Russia.
04 March 2022
GTSOU: 13 gas distribution stations disconnected due to enemy shelling
As of March 4, 2022, due to enemy shelling, a total of 13 gas distribution stations were disconnected, and hundreds of consumers were left without gas supplies.
03 March 2022
Ukraine stops exporting natural gas at midnight
From the next gas day, (March 04, 2022) capacity distribution and confirmation of nominations / renominations for the purpose of export of natural gas from Ukraine will be stopped.
Ukraine expects to integrate into EU’s electricity grid this month
Kyiv aims to integrate into the European Network of Transmission System Operators for Electricity (ENTSO-E) as early as this month.
EU to provide €1.2B in macro-financial assistance to Ukraine
The European Union has signed a memorandum with Ukraine on the provision of €1.2B in macro-financial assistance.
Energoatom suffered losses worth UAH 18B over six days
Over six days since Russia started a war on Ukraine, Energoatom National Nuclear Energy Generating Company of Ukraine has suffered about UAH 18 billion [the National Bank’s exchange rate as of March 3, 2022: USD 1 = UAH 29,2549 – Ed.] worth of losses.
United States ready to help rebuild Ukrainian infrastructure after war
The United States is ready to provide utmost assistance in the restoration of the Ukrainian infrastructure after the end of the war and the de-occupation of Ukrainian territories.
02 March 2022
Poland calls on EU to abandon Russian coal
Sanctions against Russia must be tough, including an embargo on non-Russian energy exports.
EU bans seven Russian banks from SWIFT system
The Council of the European Union has introduced further restrictive measures in view of the Russian Federation’s unprovoked and unjustified military aggression against Ukraine. In particular, seven Russian banks were banned from SWIFT system.
Poland puts forward EUR 100B plan to rebuild Ukraine from EU budget
There is a need to allocate EUR 100 billion from the EU budget to rebuild Ukraine’s destroyed infrastructure.
American Express halts relations with Russia bank partners
American Express joining a growing list of large multinational companies severing ties with Russia amid its war against Ukraine.
Boeing suspends parts and maintenance support for Russian airlines
Boeing Co. has suspended parts and maintenance support for Russian airlines as well as its operations in Moscow.
28 February 2022
Ukroboronprom provided army with about 1,500 military equipment units since war started
Ukroboronprom State Concern continues to supply military equipment to the Ukrainian Armed Forces and other security forces.
Ukraine asks cryptocurrency exchanges to block users from Russia
Deputy Prime Minister – Minister of Digital Transformation of Ukraine Mykhailo Fedorov asks global cryptocurrency exchanges to block users from Russia.