Politics & Economics

The European Commission will additionally allocate about 160 million euros to help Ukraine's energy system in the face of Russian attacks. This was stated by European Commission President Ursula von der Leyen on Thursday at a joint press conference with International Energy Agency Executive Director Fatih Birol in Brussels, Ukrinform reports. Von der Leyen noted that the European Commission will additionally allocate about 160 million euros to help Ukraine's energy system, including 60 million for humanitarian needs - shelters and heaters, 100 million for repairs and restoration, and this amount will be taken from the proceeds of frozen Russian assets.…

In January-August 2024, Naftogaz Group increased gas production volumes by more than 7% compared to the same period last year. The relevant statement was made by Naftogaz Group’s press service, an Ukrinform correspondent reports. “Since the beginning of 2024, Naftogaz Group’s companies, such as Ukrgasvydobuvannya JSC and Ukrnafta PJSC, have produced 9.8 billion cubic meters of commercial-grade gas, which is more than 7% higher compared to the same period last year,” the report states. Currently, the gas production volumes exceed the operating plan by more than 2%. “We are not giving up on our goal to start using domestically-produced gas…

Russia's use of a "shadow fleet" of tankers is a major factor in evading EU sanctions on maritime oil trade. This was stated by EU's Special Representative for Sanctions, David O'Sullivan, who spoke at a roundtable at the Brussels-based Center for European Policy. This is how he answered the question of an Ukrinform correspondent about the reason for the tripling of the number of vessels (which has significantly exceeded 1,000) involved in the illegal trade in Russian oil, and about the ways the EU exposes and sanctions entities Russia creates en masse to circumvent sanctions. He said the shadow fleet…

The first large privatization auction has been completed in the Prozorro.Sale system, selling Kyiv-based Ukraine Hotel for UAH 2.5 billion. The auction results were published on the website of Prozorro.Sale JSC, an Ukrinform correspondent reports. On September 18, 2024, the first auction was held as part of large privatization. Four-star Ukraine Hotel, which is situated in downtown Kyiv, was offered for sale. The object consists of 14 floors, 363 rooms, six conference halls, parking, and other amenities. Following the appraisal of the Ukrainian State Property Fund, the starting price of the lot was set at UAH 1.047 billion. During the…

For more than a year of operation of our export sea corridor, 70 million tons of cargo have been transported. More than 2500 vessels have left Ukrainian ports. This was announced by President Volodymyr Zelensky in his Telegram, Ukrinform reports. “Despite the war and Russian terror, Ukraine continues to be a donor of global food security for dozens of countries around the world. And we are increasing our capabilities. For more than a year, our export sea corridor has already transported 70 million tonnes of cargo. More than 2,500 ships have left Ukrainian ports. The ports of Asia, Africa, Europe…

The ambassadors of the Group of Seven (G7) countries have welcomed the adoption by the Verkhovna Rada of the customs service reform legislation. G7 ambassadors said this in a post on X, Ukrinform reports. The ambassadors congratulated the Verkhovna Rada on the successful adoption of the customs service reform legislation. "Tackling grey markets, reducing corruption, and increasing revenue is critical to support the war effort and to ensure Ukraine's financial stability," the post reads. Ukraine is working with partner countries to introduce joint customs control at checkpoints to minimize corruption risks. However, it will be possible to eradicate corruption at…

The Verkhovna Rada of Ukraine has endorsed as a whole a draft bill on increasing the 2024 budget by UAH 500 billion for military needs. The relevant statement was made by Member of Parliament Yaroslav Zhelezniak (from the parliamentary faction ‘Holos’) on Telegram, an Ukrinform correspondent reports. “Parliament has endorsed as a whole [draft bill] No. 11417 on increasing this year’s budget by UAH 500 billion for military needs,” Zhelezniak wrote. In his words, a total of 298 Members of Parliament voted in favor of that document. Overall, the budget expenditures will reach UAH 3.73 trillion in 2024. A reminder…

In August 2024, Ukraine’s gross domestic product increased by 3.5% on year. This was reported by the Ministry of Economy, according to Ukrinform. "In August 2024, the Ukrainian economy grew by 3.5% [±1%] against August last year. Over the eight months of this year, GDP growth is estimated at 3.9% [±1%] year-on-year," the statement reads. According to Yuliia Svyrydenko, First Deputy Prime Minister, Minister of Economy of Ukraine, the key factors of economic growth included industrial development and positive trends in transport, construction, and domestic trade. Also, business expectations and consumer sentiment improved in August for the first time in…

Within the framework of the 68th Regular Session of the International Atomic Energy Agency (IAEA) General Conference in Vienna, Ukrainian Energy Minister German Galushchenko met with the U.S. delegation led by U.S. Deputy Secretary of Energy David Turk to discuss the need to protect critical nuclear power plant (NPP) substations against Russian attacks. The relevant statement was made by the Ukrainian Energy Ministry, an Ukrinform correspondent reports. “By attacking substations that are critical for the operation of nuclear power plants, Russians pose direct threats to nuclear and radiation safety. We thank the IAEA for responding to our request and for…

Energoatom National Nuclear Energy Generating Company of Ukraine Acting CEO Petro Kotin has held talks with Framatome CEO Bernard Fontana regarding further cooperation. The relevant statement was made by Energoatom’s press service, an Ukrinform correspondent reports. “Earlier, Energoatom and EDF signed a Memorandum of Cooperation. At the meeting in Vienna, the heads of the companies agreed to intensify activities within the framework of joint projects and to continue negotiations at the technical level,” the report states. In particular, Energoatom is ready to strengthen cooperation with EDF and its subsidiaries, including Framatome, with regard to the exchange of experience in the…