Politics & Economics

The International Monetary Fund (IMF) expects that the Ukrainian authorities and their creditors will make progress in debt restructuring talks in line with the debt sustainability targets set out in the IMF program. Julie Kozack, Director of the IMF's Communications Department, stated during a press briefing in Washington that the Fund is urging both the Ukrainian government and its creditors to continue working toward an agreement that aligns with the debt sustainability benchmarks outlined in the IMF-supported program, as well as Ukraine's own announced strategy. She noted that in some cases, the outcome of such negotiations could influence the review…

Ukraine's defense industry is currently capable of absorbing up to $70 billion in investment, according to President Volodymyr Zelensky. He said this during a press briefing following his meeting with German Defense Minister Boris Pistorius in Kyiv on Thursday, according to an Ukrinform correspondent. "We are ready today to leverage our capabilities [in weapons production] for an estimated $70 billion," Zelensky said. He stressed that this figure reflects potential investment "on a global scale." "This isn't just about Germany or your national budget," Zelensky said. Read also: Germany's support for Ukraine could reach EUR 9B this year – Pistorius Speaking…

A joint statement by 48 IAEA member states was read out at a meeting of the IAEA Board of Governors, declaring that any restart of the reactors at the Zaporizhzhia Nuclear Power Plant (ZNPP) can only take place once the facility is returned to Ukraine's control. This is according to the Ukrainian Energy Ministry, Ukrinform reports. "Russia's continued control of Ukraine's ZNPP, including the presence of armed troops and military equipment, as reported by the Agency, compromises the DG's 'seven indispensable pillars for nuclear safety and security in an armed conflict' and puts the implementation of the five concrete principles…

Germany's guaranteed support for Ukraine this year will amount to EUR 7 billion, but the German government plans to allocate an additional EUR 1.9 billion. According to an Ukrinform correspondent, German Defense Minister Boris Pistorius said this during a press briefing following his meeting with President Volodymyr Zelensky in Kyiv. "We are planning to provide EUR 9 billion in support for Ukraine," he said. Pistorius noted that the original amount of assistance was set at EUR 4 billion but was increased by another EUR 3 billion in recent months. "We also intend to add EUR 1.9 billion more, though that…

Ukrainian MPs are initiating an audit of the effectiveness of budget funds used by the State Audit Service and the Accounting Chamber for “major construction” projects, in particular, the “Shevchenko Hub” in Kaniv. This was announced by People's Deputy Maxim Tkachenko, head of the Verkhovna Rada's Temporary Investigation Commission on the investigation of possible violations of Ukrainian law in the fields of culture, cultural heritage protection, tourism, physical culture, and sports, in a comment to Ukrinform. He recalled that in March this year, the Verkhovna Rada decided to create the relevant Temporary Investigation Commission. "The commission includes representatives of almost…

Ukraine's partners are extremely interested in cooperating with domestic arms manufacturers, as they recognize the superiority of modern Ukrainian technologies in the production of certain types of weapons. This was stated by Deputy Minister for Strategic Industries of Ukraine David Aloyan in a comment to Ukrinform. "We see growing interest among our European partners in cooperating with Ukrainian industry, not only in terms of conventional weapons, but also in particular in defense technologies, because innovation is born here. And it is very good that our partners understand that this is an opportunity for them, namely to cooperate with the Ukrainian…

The G7 Summit, scheduled to take place from June 15 to 17 in Kananaskis, Canada, will include discussions on reducing the price ceiling for Russian oil to $30 per barrel. Oleksandr Khara, an expert on foreign affairs and security policy at the Center for Defense Strategies, said this in a commentary to Ukrinform. “We anticipate increased pressure on Russia. Foreign Minister Andrii Sybiha has proposed a new price ceiling for Russian oil at $30 per barrel (it is set at $60 per barrel now – ed). While it remains uncertain whether the G7 will agree to this (following the summit),…

The Cabinet of Ministers has simplified the acceptance procedure for domestically produced tactical-level unmanned systems and electronic warfare (EW) equipment. This was announced by Taras Melnychuk, the government's permanent representative in the Verkhovna Rada, via Telegram, Ukrinform reports. “Amendments have been made to the procedure for procuring domestically manufactured unmanned systems, tactical-level electronic warfare equipment, and their components,” the statement reads. According to the amendments, the acceptance of drones and EW systems can now be carried out without the involvement of representatives from the state contracting authority. Instead, acceptance is based on a quality certificate provided by the contractor for…

The European Union and Germany are allocating additional €13 million and €5 million respectively to the Energy Efficiency Fund of Ukraine. This was announced by EU Ambassador to Ukraine Katarína Mathernová during a briefing in Kyiv, Ukrinform reports. “Proud to announce today a new €18 million contribution to the Fund from the EU & Germany,” Mathernová said. She emphasized that international partners continue to back the Fund because of its proven success. According to the Ambassador, the Fund has grown from 90 projects in 2021 to over 1,500, benefiting around 217,000 families and operating under the principle of "Build back…

The liquid assets of the National Welfare Fund of the Russian Federation (NWF), set up under Vladimir Putin, may be completely exhausted in 2026 if oil prices remain low and the ruble remains strong. As per The Moscow Times, this is predicted by Russian economists in a report on the implementation of the federal budget for 2025, Ukrinform reports. According to available data, as of June 1, the NWF had RUB 2.8 trillion ($31 billion) of unspent money, which is the minimum level since 2019. Over the years 2022-2024, the reserves plunged from $113.5 billion to $37.4 billion. Read also:…