Poland calls on EU to abandon Russian coal
Sanctions against Russia must be tough, including an embargo on non-Russian energy exports.
Economy - Latest news
02 March 2022
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.
27 February 2022
Ukraine’s Economy Ministry calls on global IT companies to block cooperation with Russia
The Ministry of Economy of Ukraine called on leading global IT companies to freeze all transactions and agreements with Russia and stop providing any services to the aggressor country.
25 February 2022
NBU bans all transactions with Russian, Belarusian currencies
Authorized institutions have been banned from conducting any foreign exchange transactions using Russian and Belarusian rubles, as well as with the participation of Russia and Belarus.
24 February 2022
National Bank has all resources to meet financial needs of the state – Zelensky
The National Bank and the banking system of Ukraine have all the necessary resources to meet financial needs of the state.
23 February 2022
Ukraine’s parliament significantly increases defense spending
The Verkhovna Rada of Ukraine on Wednesday passed a law to increase the revenue and expenditure parts of the 2022 state budget by UAH 26.5 billion. Of these, UAH 16 billion was allocated for the Ministry of Defense to increase the state's defense capabilities and national security.
PM Shmyhal: Ukraine's economy, financial system remain stable
Currently, there are no economic reasons for worsening situation in Ukraine, except for panic. The country's economy and financial system remain stable.
Britain ready to guarantee up to $500M in loans to support Ukraine - foreign secretary
UK Foreign Secretary Liz Truss has reiterated Britain’s commitment to guarantee up to $500 million in loans to support Ukraine and mitigate the economic effects of Russian aggression.
NBU: Imposition of state of emergency will not affect banking system
In the event of the introduction of a state of emergency, the Ukrainian banking system will operate as usual
Akhmetov's company to pay UAH 1B in taxes upfront
Akhmetov's SCM will UAH 1 billion in taxes upfront to maintain the stability of state finances as part of assistance to Ukraine.
Australia imposes financial sanctions on Russia
The Australian government has announced a new package of sanctions against Russia following its decision to recognize the independence of the so-called “L/DPR” in eastern Ukraine.
IMF mission kicks off Ukraine’s SBA review
The mission of the International Monetary Fund is starting its work in Ukraine to discuss the second review of the Fund-supported program.
Ukraine planning talks with IMF on new support program - NBU
Kyiv wants to launch talks with the International Monetary Fund on a new cooperation program in April to reassure markets that have been rattled by Russia's aggressive actions.
Finance Ministry places government bonds for UAH 3.5B
The Ukrainian Ministry of Finance raised UAH 3.5 billion to the state budget at an auction for the placement of domestic government bonds, according to the ministry's press service.
President of Ukraine discusses humanitarian projects and investments with Richard Branson
President of Ukraine Volodymyr Zelensky discussed joint humanitarian projects and the transformation of frontline territories with British billionaire, founder of Virgin Group Richard Branson.
Shmyhal: Recognition of so-called ‘L/DPR’ does not affect Ukraine’s economy
Prime Minister of Ukraine Denys Shmyhal has said that Putin’s recognition of the self-proclaimed "DPR" and "LPR" as independent does not affect the economic life of Ukraine.
President: We launch economic patriotism program
The President of Ukraine announced the launch of an economic patriotism program in the country.
22 February 2022
Germany halts Nord Stream 2 certification
Germany has decided to suspend the certification of the Nord Stream 2 gas pipeline amid the latest decisions made by Russian President Vladimir Putin.
Zelensky invites Estonian business to invest in Ukrainian projects
President of Ukraine Volodymyr Zelensky has invited Estonian investors to take active part in energy, infrastructure projects and development of Ukraine’s IT industry.
Deposits of individuals in Deposit Guarantee Fund’s banks exceed UAH 658B
The total amount of deposits of individuals in banks-participants of the Deposit Guarantee Fund of Ukraine amounted to UAH 658.3 billion as of February 1, 2022, Ukrinform reports, referring to the Fund’s press service.
Ukraine initiating suspension of Russia’s EBRD membership
Ukraine is initiating suspension of the Russian Federation from membership in the European Bank for Reconstruction and Development due to its recognition of illegal entities in certain areas of the Donetsk and Luhansk regions.
Ukrainian Eurobonds decreased in price amid escalation
Amid growing fears of Russian aggression, prices of U.S. dollar Eurobonds, GDP-linked bonds and other sovereign securities of Ukraine have dropped significantly.
Ukraine losing up to $3 B a month amid escalation fears – President’s Office
Due to the threat of Russian invasion, Ukraine loses 2 to 3 billion U.S. dollars a month due to suspended investment and additional inflation.
21 February 2022
NBU sold $503M on interbank foreign exchange market last week
The National Bank of Ukraine (NBU) sold $503 million and purchased $50 million on the interbank foreign exchange market last week, Ukrinform reports, referring to data provided by the central bank.
EU adopts €1.2B assistance to Ukraine
The Council of the EU approved a proposal from the European Commission to provide Ukraine with additional emergency macro-financial assistance in the amount of EUR 1.2 billion.