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Ukraine introduces anti-dumping duty on Russian chocolate

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KIEV: The Interdepartmental Commission for International Trade has introduced an anti-dumping duty on chocolate products from Russia for a period of five years. The corresponding decision was published in the Uryadovy Courier governmental newspaper. “The final anti-dumping measures are applied by introducing the final anti-dumping duty on the import of goods from the Russian Federation to Ukraine… in the amount ... Read More »

Ukraine’s Jan-Apr coal imports down 9.7% on year to 4.83m mt

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KIEV: Ukraine’s total imports of coal, including coking coal, thermal coal and anthracite, decreased 9.7% year-on-year to 4.83 million metric tons in January through April, down from 5.35 million metric ton (mt) imported in January-April 2016, the state customs service said Friday. The value of coal imports over the period soared 66.2% to $770.9 million from $463.9 million in January-April ... Read More »

IMF and EBRD confirm 2% 2017 GDP growth forecast for Ukraine

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KIEV: The International Monetary Fund and the European Bank for Reconstruction and Development have confirmed their forecast for growth of Ukraine’s GDP at 2% in 2017, according to the surveys of the institutions published on Thursday. The IMF expects that Ukraine’s economy will grow by 3.2% in 2018 and the EBRD projects it at 3%, as they earlier said. The ... Read More »

Ukraine state budget revenue 19% above target in Jan-Apr

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KIEV: Ukraine’s national budget revenue totaled UAH 259.78 billion in January-April 2017, which is 18.9% or UAH 41.21 billion above the revenue target for the period, the State Treasury Service has reported. Revenue increased by 51.1% or UAH 87.84 billion compared with the same period of 2016, due to receipt by the special fund on April 28 of UAH 30 ... Read More »

Ukraine allows VAT-free gas storage for 3 years

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KIEV: Ukraine now allows VAT-free temporary storage for up to 1095 days (3 years) of natural gas by gas traders in Ukraine’s Underground Gas Storage Network (UGSN). This significantly eases cross-border transportation of natural gas and realistically also opens up opportunities to collaterize stored gas for financing. In accordance with Order No. 292 of 27 February 2017 of Ministry of ... Read More »

Ukrainian soybean oil exports hit a high in March

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KIEV: According to the official statistics figures, in March 2017 Ukraine exported 23.6 thousand tons of soybean oil, an increase of 2 times compared with February 2017, which became a new peak of monthly shipments of the product. In the reporting month, significant increasing of soybean oil supplies to India, China and Bangladesh formed the major impact to the reporting ... Read More »

Ukraine grain exports surge 52% in March

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KIEV: Ukraine boosted its grain exports to 4.54 million tons in March up 52 percent from 2.98 million tons in February thanks to record sales of maize, analyst UkrAgroConsult said. The maize shipments jumped to 3.1 million tons in March, the highest so far for the 2016/2017 marketing year that runs from July to June, from 1.8 million tons in ... Read More »

NBU expects Ukraine’s GDP growth to slip to 30%

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KIEV: The National Bank of Ukraine (NBU) expects that Ukraine’s GDP growth will slow to 3% in the first quarter of 2017 from 4.7% in the fourth quarter of 2016, according to an inflation report of the central bank. “The key factor for slowing the growth was the blockade of transportation lines in the east of the country. As a ... Read More »

Ukraine’s anti-corruption drive nets two more ‘big fish’

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KIEV: Ukrainian anti-corruption investigators have detained an influential former member of parliament and a senior energy executive, as Kiev’s authorities come under domestic and western pressure to crack down on top-level graft. Agents from Ukraine’s national anti-corruption bureau (Nabu) detained Mykola Martynenko, a close ally of ex-prime minister Arseniy Yatsenyuk, on Thursday night for allegedly embezzling $17.3 million (€16.2 million) ... Read More »

Odesa customs office sends record-breaking sum to national budget in March

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KIEV: Odesa customs office of the State Fiscal Service of Ukraine in March 2017 sent Hr2.24 billion of customs payments to the national budget. The press service of the main department of the State Fiscal Service in Odesa region reported on Tuesday that this is a record-breaking figure. In the whole history of Odesa customs office since Ukraine’s independence the ... Read More »

First export strategy presented in Ukraine

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KIEV: Industrialists and entrepreneurs have expressed their support for the draft Export Strategy of Ukraine, which was presented by the Ukrainian Ministry for Economic Development and Trade as a roadmap for the strategic development of foreign trade. As is known, the event took place in Kyiv with the participation of the Ukrainian government, businesses, international financial institutions, and the European ... Read More »

Ukraine to lift gambling ban after 8 years

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KIEV: The Prime Minister of Ukraine has accepted a Ministry of Finance letter promising to re-legalise gambling by 2018, almost eight years after it was outlawed. A previous legalisation proposal two years prior failed as operators felt that the tax rates and licensing fees were too high. Those regulations implied that if sports betting, lotteries, iGaming and land-based casinos were ... Read More »

Ukraine sugar exports to hit 20-year high in drive for foreign currency

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KIEV: Ukraine’s beet sugar industry is booming, with exports expected to reach 20-year highs next season, while Astarta, the country’s largest sugar producer, reported booming profits and sales. The US Department of Agriculture’s Kiev bureau forecast Ukraine’s sugar exports to rise to 780,000 tonnes, up 350,000t tonnes from 2016-17, thanks to rising production and falling domestic production. The bureau suggested ... Read More »

Ukraine’s seaports in Jan-March’17 climbed by 2.5%

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KIEV: In January-March 2017, seaports of Ukraine handled 32.71 million ton of cargo, up 2.5%, year-on-year, press center of Ukrainian Sea Ports Authority said in a statement. Transshipment of export cargo totaled 25.938 million ton (+5%), imports – 4.373 million ton (-0.6%), transit – 2.221 million ton (-18.3%), inland traffic – 180,000 ton (+ 81.2%). Container throughput in seaports of ... Read More »

Ukraine’s soybean, sugar exports rise in 2017

Ukraine’s soybean, sugar exports rise in 2017

KIEV: This year’s February soybean exports from Ukraine hits high again. They amounted to 344.8 KMT against 291.9 KMT in January 2017.  At the same time, the export trade volume increased more than 2.5 times compared to February 2016. In total, 1870.8 KMT of soybeans were supplied to foreign markets in the first half of 2016/17 (September-February). This is already ... Read More »

Ukraine’s Q1 imports of manganese ore up 88.6%

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KIEV: Ukraine’s imports of manganese ore and concentrate rose 88.6% on the year to 294,480 metric ton in January-March from 156,100 metric ton a year earlier, the state customs service reported Thursday. The value of manganese ore imports soared to $42.7 million in the first quarter from $18.3 million in Q1 last year, the customs service said. Over January-March, Ukraine ... Read More »

Russia suspends LNG exports to Ukraine

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MOSCOW: Russia suspended exports of liquefied petroleum gas (LPG) to Ukraine earlier in April over concerns it could be used for military purposes, traders said on Wednesday. Traders said railcars loaded with LPG have been queuing at the Russia-Ukraine border after Russian customs blocked their passage to the neighbor. Russian Railways issued an order which says the owners of the ... Read More »

IMF approves $1 billion for Ukraine

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KIEV: The International Monetary Fund’s decision to release another $1 billion in loans to the country was “a real vote of confidence,” National Bank of Ukraine governor Valeria Gontareva says. The IMF yesterday agreed to release the latest tranche of a $17.5 billion rescue program, bringing total funds disbursed to about $8.4 billion, EurActiv reports. In its statement announcing the ... Read More »

Senior National Bank of Ukraine officials suspected of embezzling billions

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KIEV: Senior officials from the National Bank of Ukraine are being checked by the National Anti-Corruption Bureau on suspicion of the embezzlement of funds allocated for the refinancing of commercial banks, Bureau chief Artem Sytnik told Ukrainian television channel 1+1. The checks follow on the reports that the National Bank was searched by the anti-corruption authority last week, which saw ... Read More »

NBU Council proposes to conduct stress tests of state-run banks every 6 months

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KIEV: The higher export council at the Council of the National Bank of Ukraine (NBU) believes that stress tests of state-run banks should be conducted each six months. The proposal is outlined in the list of recommendations to the Ukrainian government and the NBU Board on the strategic objectives underlying the development strategy for state-owned banks drafted by the expert ... Read More »