North Korea earns over $20 billion aiding Russia's war effort, report says
A South Korean think tank suggests North Korea prefers "in-kind and technical assistance" that enhances its own defense industry and supports its long-term strategic goals.
Business
'Significant progress' — Ukraine, US to conclude minerals deal in 'near future,' Deputy PM says
"We have now agreed with the U.S. side to affirm this positive development by a relevant memorandum of intent — we are preparing a formal conclusion of the deal in the near future," Deputy Prime Minister and Economy Minister Yuliia Svyrydenko said.
US softens demands on Ukraine minerals deal after Washington talks, Bloomberg reports
The Trump administration has reportedly lowered the payback it seeks under a minerals agreement with Ukraine from $300 billion to $100 billion.
Ukraine-US talks on minerals deal going 'in a positive mood,' Zelensky says
"When the teams are ready, they will present what they have worked out. So far, both sides have ended the meetings in a positive mood," President Volodymyr Zelensky said.
Bulgaria backpedals on nuclear reactor sale to Ukraine
Bulgaria's deputy prime minister and chairman of the co-ruling Bulgarian Socialist Party (BSP), Atanas Zafirov, announced the news, arguing that Sofia needs to develop its nuclear energy capacities.
Economic partnership with US could spur Russia to end war, White House says
"There is an incentive for Russia to end this war and perhaps that could be economic partnerships with the United States," White House Press Secretary Karoline Leavitt told reporters on April 15.
EU readies 'plan B' for bypassing Hungary's Russia sanctions veto, RFE/RL reports
The EU sanctions consist of two documents adopted one after another: a decision and a regulation. While a regulation must by extended by all 27 members every six months, a decision remains in force until a qualified majority repeals it, RFE/RL reported.
EU to unveil delayed Russian energy phase-out plan by May 6
The strategy, originally scheduled for release last month, was postponed amid growing uncertainty over U.S. President Donald Trump's new tariff policies, which could affect energy trade and strain transatlantic negotiations.
Spain’s Tecnove to produce Ukrainian Djura and Kozak armored vehicles
The company plans to manufacture three variants of the vehicles: a medical evacuation vehicle, a troop carrier, and a vehicle for special operations.
German, French energy giants consider restoring gas supplies from Russia's Gazprom, Reuters reports
Following the outbreak of the full-scale war in 2022, the European Union has restricted energy imports from Russia, profits from which fuelled Moscow's ability to wage the war against Ukraine.
Ukraine submits proposals to US on minerals agreement, Deputy PM says
Deputy Prime Minister Olha Stefanishyna declined to disclose specific details, noting that negotiations are ongoing and "this is not the final round."
Russia may face housing shortage as new construction drops sharply
In the first quarter of 2025, developers launched just 8.1 million square meters (around 87.19 million square feet) of new housing projects — down 24% from the same period last year.
Domestic missile production increases eightfold in 2024, Ukrainian minister says
Ukraine has also more than doubled its production of long-range drones in 2024 compared to the previous year, which is a 22-fold increase compared to 2022. In total, 324 new types of weapons were developed in Ukraine by the end of 2024.
US, Ukraine minerals deal negotiations 'antagonistic,' Reuters reports
Describing the Trump administration's expansive proposal as "maximalist," the source told Reuters that it was unlikely a new round of technical talks will lead to a breakthrough in negotiations.
Kyiv hires US law firm Hogan Lovells to advise on minerals deal
Ukraine's Justice Ministry has hired the U.S. firm Hogan Lovells for assistance in negotiating a critical minerals deal, according to public records. Sources also told Reuters that talks on the deal had become "antagonistic."
Russia asks US to lift sanctions on its largest airline
Russian Foreign Minister Sergey Lavrov linked the potential resumption of direct air service between the U.S. and Russia to Washington's decision on Aeroflot.
Russian missile attack kills 1, injures 9 in Dnipro
The strike destroyed part of a storage facility belonging to Biosphere Corporation, a Ukrainian manufacturer of household goods. Company founder Andrii Zdesenko said the attack caused serious damage.
Ukraine Business Roundup — Tariff war
The following is the April 9, 2025 edition of our Ukraine Business Roundup weekly newsletter. To get the biggest news in business and tech from Ukraine directly in your inbox, subscribe here. President Trump shocked the world on April 2 when he announced what he dubbed “Liberation Day,” slapping tariffs
Ukraine, EU prolong transport visa-free regime until end of 2025
Transport visa-free regime is a part of Ukraine's sectoral integration into Europe and a prerequisite for our membership in the European Union," Prime Minister Denys Shmyhal said.
Ukraine Reforms Tracker Weekly — Issue 20
Editor’s note: This is issue 20 of Ukrainian lawmaker Yaroslav Zhelezniak’s weekly "Ukraine Reforms Tracker" covering events from March 24–April 6, 2025. The digest highlights steps taken in the Ukrainian parliament related to business, economics, and international financial programs. The Kyiv Independent is republishing with permission. Benchmarks
Foreign companies funding Ukraine's army to face re-entry ban in Russia, media reports
Preliminary criteria say that foreign firms willing to return to Russia will not be allowed to do so if they have a "hostile position," finance Ukraine's Armed Forces, or are classified as "undesirable organizations" or "foreign agents."
US-Ukraine technical consultations on minerals deal to start on April 11, deputy PM says
Ukraine will begin technical consultations with the U.S. on the minerals agreement on April 11, Deputy Prime Minister for European and Euro-Atlantic Integration and Justice Minister Olha Stefanishyna said, as reported by Interfax-Ukraine on April 10.
Russia seeks sanctions relief, resource deal with US via negotiator Dmitriev, Zelensky says
"The scheme looks like it all leads to the unblocking of economic relations. They (Russia) want, for example, the lifting of sanctions against specific people who will be behind this or that direction, for example, Russian minerals, which they will offer them (the U.S.)," President Volodymyr Zelensky said.
Ukraine's PM urges EU to extend trade liberalization mechanism for Ukraine
The Autonomous Trade Measures were introduced by the European Union on June 4, 2022, to provide temporary tariff-free and quota-free access for Ukrainian goods.
Trump halts tariffs for 90 days on most countries, raises them for China
According to U.S. President Donald Trump, more than 75 countries have approached the U.S. to discuss trade, trade barriers and tariffs and have not retaliated against Washington.
Zelensky: Ukraine ready for minerals deal with US, but only on equal terms
The president stressed that Ukraine is ready to contribute its land and resources, but expects the U.S. to bring in technologies and capital.
EU set to greenlight first response to US tariffs
"The EU considers U.S. tariffs unjustified and damaging, causing economic harm to both sides, as well as the global economy," the statement read.
Revolut halts new customers in Ukraine after banking license dispute
Revolut, the London-based digital bank, has suspended registration of new customers in Ukraine, a company press office told The Kyiv Independent on April 9.
Ukraine ready to negotiate 'abolition of duties' on all US goods amid Trump's tariffs
"Our priority is the abolition of duties, not escalation," Deputy Economy Minister and Trade Representative Taras Kachka said.
EU transferring new $1-billion tranche for Ukraine covered by frozen Russian assets
"We are grateful to our partners for supporting the economy and the rapid recovery of our country," Prime Minister Denys Shmyhal said after meeting EU Economy Commissioner Valdis Dombrovskis in Brussels.
Trump didn't impose tariffs on Russia but they might be wrecking its economy regardless
U.S. President Donald Trump has inadvertently hit Russia’s economy after his "Liberation Day" tariffs caused oil prices to drop drastically on April 7, with potentially massive ramifications for the Kremlin's ability to fund its ongoing war in Ukraine. Russia has so far failed to agree to a full
Ukrainian steelmaker receives first batch of US coking coal after Pokrovsk mine halt
The U.S. supplies are meant to offset the loss of coking coal from the mine near Pokrovsk, which has suspended operations as Russian forces are closing in on the Donetsk Oblast town.
Business
The Kyiv Independent’s Business Desk covers the biggest news in business, economics, and tech from Ukraine, as well as global developments that shape the economy of the region.
Learn more about business in Ukraine:
(Updated: )
Most popular
Editors' Picks
'Don't come, there's nothing good here' — Chinese soldiers warn against following Russian propaganda to fight in Ukraine
4 things you need to know about Victoria Spartz, the Ukrainian-born US lawmaker
'Putin is pure evil' — Trump's spiritual advisor on Russia's war against Ukraine
