Economics

Farmers are forced to cooperate with Russian invaders within the temporarily occupied territory of Kherson Region. The relevant statement was made by Kherson Regional Council Deputy Serhii Khlan on Facebook, an Ukrinform correspondent reports. “I keep in touch with many farmers from Kherson Region. […] They are now massively forced to cooperate with the occupiers,” Khlan wrote. In his words, Russian invaders are threatening farmers’ families with weapons and forcing them to sign ‘cooperation contracts’ to ‘assist the new authorities’. Farmers are either summoned to the ‘commandant’s service’, or invaders come to their homes. Sometimes civilians get abducted. According to…

President of Ukraine Volodymyr Zelensky promises maximum deregulation of business and calls for the resumption of business activities where there is no fighting. The Head of State made a corresponding statement in his evening address on March 14, after 19 days of resistance to Russian aggression. According to him, the Cabinet of Ministers of Ukraine has agreed on a package of decisions to support Ukrainian economy so that business works, so that people have jobs where security situation allows and where people are ready for it. “First, we are starting tax reform. Instead of VAT and income tax we give…

Russia has caused $119 billion in damage to Ukraine's infrastructure.  "Yesterday or the day before yesterday, the President's Office named the figure of more than $100 billion. They were talking about infrastructure facilities. To date, this figure has been specified – it is $119 billion," First Deputy Economy Minister of Ukraine Denys Kudin said on the air of Rada TV channel, an Ukrinform correspondent reports. He noted that the figure would only grow with each passing day of the war. According to Kudin, the Economy Ministry calculates the losses inflicted on Ukraine by Russian troops under two approaches: direct one-time…

The Russian military have caused more than $10 billion worth of damages to Ukraine’s transport infrastructure. The relevant statement was made by Ukrainian Infrastructure Minister Oleksandr Kubrakov on Rada TV Channel, an Ukrinform correspondent reports. “At the end of last week, we estimated the losses related to transport infrastructure only. This refers to roads, bridges, railway tracks and the equipment damaged in shelling on airports. At the end of last week, this sum exceeded $10 billion,” Kubrakov told. In his words, most damaged facilities can be renovated within a year. The renovation of large and integrated facilities will take up…

Minister for Foreign Affairs of Ukraine Dmytro Kuleba announced an embargo on Russian oil and gas to be imposed by foreign governments, which so far do not include European nations, as they are yet to find alternative energy sources. This was stated by the Minister for Foreign Affairs of Ukraine, Dmytro Kuleba, in a video report on Facebook, Ukrinform reports. "It will be there, but so far without Europeans. Europeans have not found an alternative. We will now be closely monitoring this. If we see that they are really looking for an alternative to Russian gas and oil and just…

American Express joining a growing list of large multinational companies severing ties with Russia amid its war against Ukraine. "Since the beginning of this crisis, we have been complying with U.S. and international sanctions, which has resulted in us halting relationships with impacted bank partners in Russia, and we will continue to comply with all relevant laws as the situation evolves," said American Express Chairman and CEO Stephen Squeri in a memo to employees obtained by Yahoo Finance. Earlier, Mastercard, Visa and BlackRock refused to do business in Russia. Western allies adopted a decision to cut a significant number of Russian banks…

Ukroboronprom State Concern continues to supply military equipment to the Ukrainian Armed Forces and other security forces. The relevant statement was made by Ukroboronprom’s press service on its Facebook page, an Ukrinform correspondent reports. In particular, since the military actions started, the Ukrainian Defense Ministry, the National Guard of Ukraine, the Ukrainian State Border Guard Service, the Territorial Defense Forces and other security forces have received: more than 50 military vehicles, including tanks, infantry fighting vehicles, armored personnel carriers and armored cars; 45 special-purpose, heavy and light motor vehicles; 574 mortars and grenade launchers; more than 170 other armaments of…

Deputy Prime Minister – Minister of Digital Transformation of Ukraine Mykhailo Fedorov asks global cryptocurrency exchanges to block users from Russia. "I ask all global cryptocurrency exchanges to block users from Russia. It is important to freeze not only the accounts of the political leadership of Russia and Belarus, but also those of citizens," Fedorov posted on Facebook, Ukrinform reports. Earlier, the minister thanked Meta for blocking Russian propagandists and media outlets. Russian president Vladimir Putin declared war on Ukraine on February 24 and launched a large-scale invasion. Russian troops have been shelling and destroying key infrastructure facilities. Missiles hit…

The Ministry of Economy of Ukraine called on leading global IT companies to freeze all transactions and agreements with Russia and stop providing any services to the aggressor country. As the press service of the Ministry of Economy reports, Ukraine needs such support to stop information and technological attacks by the Russian Federation. “Russia needs these high-quality products and services, equipment and software produced by these companies to continue the war. In particular, many channels on Telegram and YouTube, Facebook groups and Instagram profiles have been created to spread disinformation among Ukrainians, Russians, and the world. Russians use these channels…

The Australian government has announced a new package of sanctions against Russia following its decision to recognize the independence of the so-called “L/DPR” in eastern Ukraine. Prime Minister of Australia Scott Morrison stated this, Ukrinform reports with reference to ABC News. According to Morrison, Australia would initially impose travel bans and targeted financial sanctions on eight members of the Security Council of the Russian Federation. The sanctions will also include entities linked to Moscow, as well as Russian banks, transport, energy, telecommunications, oil, gas and minerals. Morrison said the sanctions may be introduced against more Russian citizens and organizations seeking…