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Zelenskiy team offers contradictory statements on central bank audit


Presidential candidate Volodymyr Zelenskiy’s team is sending contradictory messages after a representative of the candidate called for an additional audit of the National Bank of Ukraine. Such a move could potentially send negative signals to foreign financial institutions. Read More »

Comedian Zelenskiy would win second round of Ukraine election – poll

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Comic actor Volodymyr Zelenskiy, a political novice who plays a fictional president in a popular TV series, is likely to win in Ukraine’s presidential election race, according to an opinion poll published on Thursday. The poll by Reiting research body, the first survey for the election’s second round, showed Zelenskiy on 61 percent of votes and incumbent Petro Poroshenko on ... Read More »

Ukraine presidential rivals undergo televised drug tests

Ukraine's presidential candidate, who led the first round of presidential polls, Volodymyr Zelensky (R) undergoes a blood test in a private clinic in Kiev on April 5, 2019 to prove he does not abuse alcohol and drugs ahead of a second-round runoff on April 21. (Photo by STRINGER / AFP)

KIEV: The two remaining candidates in Ukraine’s presidential race underwent televised drug and alcohol tests on Friday, capping a week in which they traded jibes in tit-for-tat social media videos and goaded each other to agree to a live policy debate. President Petro Poroshenko is facing Volodymyr Zelenskiy, a comedian with no political experience who plays a fictional president in ... Read More »

Ukrainian govt bans gas price hikes before vote


KIEV: The Ukrainian government has banned state-run gas producer Naftogaz from raising consumer gas prices, Prime Minister Volodymyr Groysman said on Wednesday, a move likely to please voters but disturb the country’s creditors. The ban, which took effect retroactively from April 1, was announced as President Petro Poroshenko, a Groysman ally, tries to boost his chances ahead of the second ... Read More »

French warship is latest NATO vessel to visit Ukraine


A French navy warship has been docked in the Ukrainian port city of Odesa since March 23, making it the second NATO ship to visit Ukraine since the beginning of this year. It is also the third such visit since December 2018, with NATO’s three most powerful maritime forces – the US, the UK and France – all having now ... Read More »

‘Corruption in Ukraine has to be stopped’


The port of Mariupol in eastern Ukraine has become a symbol in recent months of the country’s economic struggles. A recent partial blockade by Russian naval vessels of the nearby Kerch Strait means that fewer ships are now docking at the harbour. The port has lost 33% of its fleet and up to 140,000 tonnes of exported metal products a ... Read More »

Ukraine ramps up trade ties with the GCC


Trade between Ukraine and the rest of the world is set to boom in the coming years, despite ongoing political strife in the former Soviet state. That’s according to Daniel Bilak, chairman of UkraineInvest and chief investment adviser to the Ukrainian Prime Minister. The national spokesperson told Arabian Business the Ukraine-EU Association Agreement has been a ‘game changer’ for the ... Read More »

Reform of customs regulations slow, improvements sporadic


The 1,000-member European Business Association of Ukraine, or EBA, issued its semi-annual customs index as well as the results of accompanying research. The index has not changed during the preceding half-year and stays at the level of 3.92 out of 5 points. EBA and its research partner Gemius interviewed 90 customs experts from among the pool of EBA member companies. ... Read More »

Russian businessman wanted by Ukraine freed, lawyer says


Russian businessman Yevgeny Kalinin, who had been detained on February 28 during a short business trip to Athens, was released from prison on Wednesday night, his lawyer said. Kalinin, described in media reports as a 52-year-old energy expert from Russia, was detained at Athens’s International Airport at the request of Ukraine, where he is wanted for alleged tax evasion dating ... Read More »

Ukraine president tries to salvage corruption law as tough election looms

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KIEV: Ukrainian President Petro Poroshenko proposed fresh legislation on Thursday aimed at fighting corruption, after the constitutional court threw out a previous anti-graft law, raising concerns that the country was backtracking on the issue. Poroshenko’s record on tackling corruption is a central topic of debate ahead of his bid for a second term in a presidential election on March 31. ... Read More »

Nord Stream 2 Russian gas pipeline likely to go ahead after EU deal


Donald Tusk, the president of the European council, called it a mistake, while the US president, Donald Trump, has branded it very inappropriate and a “very bad thing for Nato”. The Nord Stream 2 pipeline to take Russian gas to Germany is arguably Europe’s most controversial energy project, drawing opposition from Ukraine, which it will bypass, and uniting the US, ... Read More »

Russia remains Ukraine’s key trade partner despite Kiev’s claims of cutting economic ties

ocean liner export

Despite years of mutual trade restrictions, Russia remained Ukraine’s biggest trade partner in 2018, according to data published by the State Statistics Service of Ukraine. Sales of Russian produce to Ukraine saw 12.3-percent year-on-year growth to US$8.1 billion. That makes Russia the biggest Ukrainian supplier, leaving China, Germany, Belarus, and Poland far behind. At the same time, the Russian market ... Read More »

IMF’s Lagarde urges deeper structural reforms in Ukraine


International Monetary Fund Managing Director Christine Lagarde on Saturday urged Ukraine to forge ahead with deeper structural reforms needed to achieve stronger economic growth. Lagarde made the comments in a statement issued after meeting with former Ukrainian Prime Minister Yulia Tymoshenko in Munich, Germany. The IMF approved a new $3.9 billion (£3 billion) stand-by aid agreement for Ukraine in December ... Read More »

Ukrainian agricultural exports to EU markets remain on steep growth trajectory

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Ukrainian agricultural exports to the European Union totaled USD 6.3 billion in 2018, representing a year-on-year increase of slightly less than 10%. This USD 6.3 billion total maintains the recent growth trend that saw the value of agricultural exports to the EU rise from USD 4 billion in 2016 to USD 5.8 billion in 2017, underlining the free trade benefits ... Read More »

Ukraine exports 28.5 million tonnes of grain since July 1

A farmer supervises the loading of grain into a truck which will then be transported to a grain elevator in Kharkiv Oblast’s Krasnogradsky district on July 25, 2018.

Ukraine exported 28.52 million tonnes of grain and leguminous crops from July 1, when the 2018/2019 marketing year began (MY, July-June) to February 6, 2019, which was 16 percent up year-over-year. Some 11.6 million tonnes of wheat, 3.27 million tonnes of barley, and 13 million tonnes of maize were shipped abroad over the period under review, the Ministry of Agrarian ... Read More »

Ukraine central bank returns Hr 2.6 billion of refinancing loans to insolvent banks


The National Bank of Ukraine (NBU) in 2018 returned Hr 2.6 billion of debt on refinancing loans to insolvent banks, which is Hr 500 million more than in 2017. According to the website of the NBU, it received Hr 1.238 billion from the sale of property rights, Hr 681.6 million from the sale of real estate. Other sources of repayment ... Read More »

Ukraine and Israel sign Massive free trade agreement


Visiting Ukrainian President Petro Poroshenko hailed as “historic” the signing Monday of a free trade agreement with Israel that has been negotiated for the last 15 years. “Today is a historic day in Jerusalem,” Poroshenko wrote on his Twitter account. “For many years hundreds of bureaucrats have attempted to prepare this agreement that will make the lives of our countries ... Read More »

Russian, Ukrainian defendants among those charged with hacking SEC system in trading scheme


Federal authorities filed charges accusing eight people, including individuals from Russia and Ukraine, of hacking into a government database holding corporate secrets in a scheme that led to at least $4.1 million in illegal trading profits. In a civil complaint, the Securities and Exchange Commission alleged that the defendants launched a sophisticated cyberattack against the agency starting in 2016. Once ... Read More »

Ukraine and UK to start talks about new trade agreement

A general view of of the Palace of Westminster, with the Great Westminster Clock, more commonly known as "Big Ben" seen on April 5, 2015 in London. In one month, Britain votes in a general election likely to put the nail in the coffin of two party politics and herald an uncertain future of coalitions, alliances and horse-trading. Neither of the two parties which have dominated parliament since the 1920s, the Conservatives and Labour, are expected to win the 326 House of Commons seats out of 650 needed to govern alone. AFP PHOTO / NIKLAS HALLE'N / AFP PHOTO / NIKLAS HALLE'N

Ukraine’s Economy Ministry is expecting to start official negotiations with the United Kingdom concerning a new cooperation and trade agreement between the two countries this year. The new free trade agreement will be similar to Ukraine’s existing agreement with the European Union, according to the ministry. In a comment to the Kyiv Post, the ministry’s spokesperson Roksolana Pidlasa stated that ... Read More »

Two Ukrainians imprisoned in Greece for 180 years for smuggling of migrants


A court in Greece has sentenced Serhiy Shvayuk, a musician of the Ivano-Frankivsk band Perkalaba, and his friend Petro Lytvynchuk to 180 years in prison for smuggling of migrants. The trial took place both were found guilty, the Ukrainian news outlet Slidstvo.Info said. Interpreter of the prosecutor’s office in the city of Piraeus Lidia Kostiv said that the Ukrainians were ... Read More »