European Business Association calls on Ukraine to declassify mineral deposit data
The European Business Association (EBA) urged the Ukrainian government to declassify its information on mineral deposit data, in a statement on Feb. 13.
Trade
EU-Ukraine agri-trade reaches record $17 billion in 2024
Agricultural trade between Ukraine and the EU reached $17 billion in 2024, exceeding the previous record of $16.5 billion in 2022 by 3%, the Kyiv-based research Institute of Agrarian Economics (IAE) reported.
Europe can no longer view Trump’s foreign policy through a binary lens
Like people in other regions, Europeans face the challenge of discerning what motives underlie U.S. President Donald Trump’s verbal provocations. After all, what Trump really wants is often unclear, which makes it difficult to devise a strategically effective response. Traditionally, Europeans have interpreted American foreign policy through a
Ukraine can help dismantle Russia’s influence in the Middle East
The fall of Syrian dictator Bashar al-Assad has dealt a significant blow to Russia’s ambitions in the Middle East. Yet Russia still retains influence across the region through trade, diplomacy, and military ties. Even now, Moscow maintains a presence in Syria, making it imperative for the West to capitalize
Trump signs 25% tariff on steel, aluminum imports; Ukraine's economy to feel the effect
First Deputy Prime Minister and Economic Development Minister Yulia Svyrydenko said that the decision to impose tariffs will naturally affect Ukraine's steel industry.
EU should consider 'full trade embargo' on Russia, Estonian president says
The EU "should boost independence even further and end all Russian energy imports," Karis said on Feb. 9. "We should even seriously consider a full trade embargo on Russia."
French trade chief says Paris involved in rare earths research in Ukraine, adds US not a competitor
French point man for foreign trade, Laurent Saint-Martin, came to Kyiv during a turbulent time. As U.S. aid to Ukraine was drying up, President Donald Trump had made public his desire to get a hold of Ukraine’s rare earth minerals in return for a new influx of American
EU considering new trade regime with Ukraine, media reports
While the European Commission allegedly does not plan to reinstate pre-war trade rules, it is considering alternatives within the Deep and Comprehensive Free Trade Area (DCFTA) framework, including quotas for agricultural products and additional safeguards.
Syria bans goods from Russia, Iran, Israel
Syria's new administration has banned all Russian, Iranian, and Israeli goods from entering the country in a new decree issued by the country's Minister of Finance on Jan. 17.
Ukraine hits $24.5 billion in agro-exports, nearing pre-war levels, Agriculture Ministry reports
Ukraine, a global agricultural powerhouse, exported 78.3 million tons of products in 2024, including grains and sunflower seeds critical to markets across Africa and Asia.
Ukraine’s exports grew 13% in 2024 amid stabilized port activity, Economy Ministry says
Preliminary data shows that Ukraine’s exports grew by more than 13% over the past year, primarily due to stabilizing the functioning of Ukrainian seaports, Economy Minister Yuliia Svyrydenko said on Dec. 30.
Chinese exports to Russia decrease for first time in 4 months, Reuters reports
The decrease of 10.5% compared to November 2023 marks the first drop since July, Reuters writes.
Russia, North Korea agree to increase charter flights following trade discussions, media reports
Russia’s state-owned TASS news agency reported that the two countries had agreed to boost charter flights. The agreement was confirmed by Russia’s Ministry of Natural Resources, which noted that between January and September, over 5,000 tourists traveled between the two countries.
Chinese state-owned company reportedly begins refusing to insure exports to Russia
Chinese state-owned company Sinosure that insures export supplies against the risk of non-payment has begun to refuse to cooperate with Russian entrepreneurs, Russian newspaper Vedomosti reported on Nov. 5, citing four unnamed sources from importing companies.
Negotiations between Ukraine and China underway to expand agricultural exports
Ukraine is currently in discussions with China to expand exports of various agricultural products, according to Oleh Osiian, the First Deputy Head of the State Service of Ukraine for Food Safety and Consumer Protection.
Russia struggles to rewire global trade amid sanctions, war, WSJ analysis says
As the full-scale invasion continues, Western countries are imposing increasingly severe sanctions on Russia, forcing it to seek new partnerships with Asian powerhouses China and India.
Russia strikes cargo ship with Ukrainian wheat destined for Egypt in Black Sea
Romania's Coast Guard confirmed on Sept. 12 that the vessel was sailing through Romania's exclusive economic zone, about 55 km from the Romanian port of Sfantu Gheorghe, at the time of the attack.
UAE banks block Russian payments for Chinese electronics, media reports
Banks in the United Arab Emirates (UAE) have been rejecting transactions from Russian companies for electronic components and consumer electronics from China since early August, the pro-Kremlin outlet Kommersant reported on Aug. 28.
Ukraine exports over 64 million tons of cargo through Black Sea corridor in a year
This volume included 43.5 million metric tons of agricultural products exported through the Black Sea shipping route over the past year.
Despite sanctions, billions of dollars, euros shipped to Russia since March 2022, Reuters reports
Much of the cash arrived in Russia via third-party countries such as the United Arab Emirates and Turkey, which have declined to join in such currency-related sanctions against Russia.
Western companies continue insuring Russian oil tankers in spite of potential price cap violations, Reuters says
According to data seen by Reuters, five Western insurance companies have continued providing services to Russian oil tankers, despite concerns that most Russian oil is still being traded above the $60 per barrel price cap.
Russia, China discuss barter trade as sanctions hamper payments, Reuters reports
Russia and China are discussing the possibility of a barter trade, with the first deal involving agriculture expected as early as this autumn, Reuters reported on Aug. 8, citing three undisclosed trade and payment sources.
Turkey ratifies free trade zone agreement with Ukraine
Turkey ratified an agreement on a free trade zone with Ukraine on Aug. 2, more than two years after the agreement was originally signed.
Poland considers suspending goods transport through Belarus
"Poland has specific conditions for Belarus if it would like to normalize relations," Polish Deputy Foreign Minister Andrzej Szejna said.
India is aiming to increase exports to Russia after Modi-Putin meeting, Reuters says
"When we are looking at Russia, we are looking at how both countries can gain by better trade relationships," Indian Trade Secretary Sunil Barthwal said during a press conference.
Media: Russia faces difficulties with Chinese imports as Beijing tightens control
China has tightened export controls on military and dual-use products since July 1, the Moscow Times reported on July 5. This has already made it more difficult to deliver Chinese equipment and machinery to Russia, the Moscow Times reported, citing Russian importers.
Ukraine Business Roundup — Ukrainian startups attract funding
The following is the July 4, 2024 edition of our Ukraine Business Roundup weekly newsletter. This version is condensed as the author was out of the office. To get the biggest news in business and tech from Ukraine directly in your inbox, subscribe here. EU accession talks begin Ukraine and
EU introduces 'emergency brake' on eggs, sugar imports from Ukraine
According to the newly implemented rules, an emergency brake can be applied to imports of eggs, poultry, sugar, oats, maize, groats, and honey. The measure will be automatically triggered if import volumes reach the average yearly imports recorded between July 1, 2021, and Dec. 31, 2023.
Ukraine's wheat exports to drop to 10-year low, US Agriculture Department says
The authors linked this development to a drop in production and to Russia's disruption of Black Sea shipping lanes, which have traditionally been Ukraine's key export routes.
Sanctions against Russia are not working, says UAE trade official
"Sanctions slow the economy, (they) never stop it," said Hamam Buamim, chair of the Dubai Multi Commodities Center. "Trade continues flowing, it just flows in a different way."
Reuters: India's Russian oil imports in April highest in 9 months
India's imports of Russian oil rose to a nine-month high after shipments from non-sanctioned tankers of the Russian Sovcomflot company resumed, Reuters reported on May 21, citing data from shipping and trade sources.
National Bank: Ukraine's losses from Polish blockade partially offset by maritime trade
Losses caused by the Polish blockade of the Ukrainian border amounted to $500 million in lost imports and $160 million in exports in its first month, the National Bank of Ukraine said on May 14.
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