Economics

Up to 40% of consumers in Odesa city are still without electricity, emergency shutdowns were imposed, the situation is difficult. As Prime Minister of Ukraine Denys Shmyhal posted on Telegram, he held a meeting with the Odesa Regional Military Administration, where the energy minister and the Ukrenergo power company head now work, regarding the situation with electricity supply in Odesa city and district "In the city, up to 40% of consumers (280,000 people) are still without electricity, emergency shutdowns are in effect. During last evening and night, it was possible to restore the power supply to more than 200,000 clients…

Almost 50 auctions are planned to be held in February within the framework of small privatization. "Almost 50 auctions are scheduled for February... There are objects of suspended construction that have not been in operation for years, metal production facilities that may now be in demand for those enterprises that relocate and resume defense production, another distillery in Chernivtsi region, production facilities that can be used to resume production. In general, the State Property Fund actively conducts awareness raising campaign, there are already quite many participants, they understand that this [privatization] is happening in a transparent way through Prozorro.Sales mechanism,"…

Due to the actions of the Russian side, which blocks ship inspections in the Bosphorus, in January the world received 25% less Ukrainian agricultural products than in December. As the Ministry of Infrastructure of Ukraine posted on Facebook, 77 ships exported 3 million tonnes of agricultural products from the ports of Odesa region to the countries of Africa, Asia, and Europe in January, showing a 25% decrease compared to December volumes. "In December, Ukraine sent 94 ships with 3.7 million tonnes of agricultural products. In addition, the vast majority of countries receive Ukrainian agricultural products with huge delays due to…

The EU Council decided on Saturday to set two price caps for petroleum products which originate in or are exported from Russia. That’s according to a press release by the EU Council, Ukrinform reports. These are the price per barrel at or below which petroleum products from Russia are exempt from the prohibition to provide: - maritime transport of petroleum products to third countries and - technical assistance, brokering services or financing or financial assistance, related to the maritime transport of petroleum products to third countries. Read also: Ukraine gives EU list of missile manufacturers to be sanctioned within 10th…

Two major accidents occurred at an Odesa electrical substation within 24 hours, which caused an emergency power shutdown in the regional center and part of the district. This was announced on Facebook by DTEK Odesa Power Grids, Ukrinform reports. "On the morning of February 4, there was the second large-scale accident in one day at the NEC Ukrenergo substation. In this regard, Odesa and part of the Odesa district are temporarily in blackout," the statement reads. Read also: Ukraine needs to expand electricity imports from EU - PM Shmyhal The company assured that energy teams are undertaking measures to restore…

As of February 1, 2023, Ukraine has enough energy resources to complete the current heating season. This was announced by Ukrainian Minister of Energy German Galushchenko, Ukrinform reports, referring to the ministry’s press service. "As of today, there are more than 11 billion cubic meters of gas in Ukrainian gas storage facilities, and about 1.2 million tonnes of coal in warehouses. These are sufficient volumes to get through and complete this very difficult heating season for our country," he said. Galushchenko emphasized that Ukrainian power engineers were holding their “energy front” despite all the challenges. Read also: Electricity consumption keeps…

The Government of Japan allocates $170 million for the implementation of emergency recovery projects, including the reconstruction of Ukraine's critical infrastructure. "The undoubted priority at this stage of reconstruction is the restoration of critical infrastructure crucial to meet the basic needs of citizens. This is a necessary step for returning Ukrainians to their homes and supporting economic development in the regions," Deputy Prime Minister for the Reconstruction of Ukraine – Minister for Communities, Territories and Infrastructure Development Oleksandr Kubrakov said, the Ministry's press service informs. Kubrakov specified that the Japanese partners would provide goods and services necessary for the restoration.…

The Security Service of Ukraine charges Vyacheslav Bohuslayev, president of Motor Sich JSC, with paying taxes to the terrorist organization "Donetsk People’s Republic". “In the course of investigative and operational actions, it was established that after the start of the full-scale invasion, the high-ranking official financed the terrorist organization ‘DPR’ by paying ‘taxes’ and ‘fees’,” the press service of the Security Service of Ukraine informs. Among other things, he cooperated with a Ukrainian enterprise, which has been controlled by the so-called “DPR” since 2014. Its purpose was to supply aircraft components to enterprises of the military-industrial complex of the Russian…

The U.S. International Development Finance Corporation (DFC) will allocate $250 million to support Ukrainian small and medium-sized businesses in 2023. Prime Minister of Ukraine Denys Shmyhal wrote this on Telegram, Ukrinform reports. "The U.S. International Development Finance Corporation (DFC) is willing to support Ukrainian business," the Prime Minister wrote. According to him, DFC CEO Scott Nathan said at a meeting that the corporation would attract $250 million this year to help finance small and medium-sized business support programs. Read also: Shmyhal outlines five Ukraine’s reconstruction priorities In total, DFC announced plans to raise up to $1 billion to support the…

Last year, the Russian Federation significantly increased the import of microchips, exceeding the pre-war level. This was reported by Forbes with reference to Elina Rybakova, an economist with the Institute of International Finance, according to Ukrinform. "Russia significantly increased the import of microchips in 2022 - the figures exceeded the pre-war level. The value of microchip imports increased from $1.8 billion for January - September 2021 to $2.45 billion for the same period last year," the report says. Read also: Iran, Russia link banking systems amid Western sanctions It is noted that, despite the U.S. sanctions against Russia, the Russian…