Politics & Economics

The Ministry of Finance of Ukraine and the World Bank are working on a loan agreement to support the Development Policy Operation (DPO), with a planned allocation of at least $1 billion. According to Ukrinform, citing the Ministry of Finance’s press service, a team of World Bank experts is working this week alongside representatives from the Ministry of Finance and the Government of Ukraine to finalize key parameters of the new agreement. “The World Bank is one of Ukraine’s key strategic partners in advancing systemic reforms. We are continuing joint work on the new Development Policy Operation (DPO) agreement, which…

There is currently no significant risk of scheduled power outages in Ukraine, even during peak consumption on hot days. The press service of NPC Ukrenergo provided this information in a commentary for Ukrinform’s publication. "At present, there is no significant risk of implementing restrictive measures during the summer, even at peak consumption on the hottest days. The repair campaign at key generation facilities was strategically planned to ensure the power system can fully meet consumer demand," the company said. Read also: Slovakia to allocate EUR 84M for Ukrenergo infrastructure restoration Ukrenergo stated that the power system has not faced attacks…

Ukraine expects to join the Organization for Economic Cooperation and Development in 2026. Prime Minister of Ukraine Denys Shmyhal stated this during the opening of the OECD ministerial in Paris, Ukrinform reports with reference to his Telegram channel. "Despite war, Ukraine continues to implement reforms in all areas to strengthen the economy and create a foundation for joining the club of developed nations. We expect to join the OECD next year," the head of government noted. He recalled that "two years ago, the OECD Program for Ukraine was launched in Paris. Then we initiated a productive dialogue for our country's…

Director General of the International Atomic Energy Agency (IAEA) Rafael Mariano Grossi arrived on a visit to Ukraine. He announced this on X, Ukrinform reports. “Began my 12th visit to Ukraine since February 2022, reaffirming IAEA’s support for the country,” Grossi wrote. He also met with Energy Minister German Galushchenko. “Shared with Minister Galushchenko how we’ll help Ukraine rebuild its energy infrastructure, including new units at the Khmelnytsky NPP, Chornobyl repairs and substation assessment,” Grossi added. Read also: Restart of Zaporizhzhia Nuclear Power Plant impossible due to unsafe conditions – IAEA As Ukrinform reported earlier, on May 27, the international…

During a meeting in Paris, Prime Minister Denys Shmyhal met with French business representatives and Laurent Saint-Martin, Minister Delegate for Foreign Trade and French Nationals Abroad, to outline key investment opportunities in Ukraine. According to Ukrinform, citing Shmyhal's statement on Telegram, he expressed gratitude to French companies that continue to operate in Ukraine, as well as those that have withdrawn from the Russian market. "We highly appreciate France's role in restoring and maintaining Ukraine's infrastructure. The French government has provided about EUR 1.2 billion in state guarantees for French investment projects in Ukraine. Additionally, I thanked France for the Grant…

The British government threatens legal action against Russian oligarch Roman Abramovich to break the deadlock in negotiations over GBP 2.5 billion frozen after the sale of Chelsea Football Club. This was reported by The Sun, Ukrinform saw. In a joint statement, Chancellor Rachel Reeves and Foreign Secretary David Lammy said: “The Government is determined to see the proceeds from the sale of Chelsea Football Club reach humanitarian causes in Ukraine, following Russia’s illegal full-scale invasion. With reference to the statement, it is noted that the British government is “determined that the funds from the sale of Chelsea football club will…

The most interesting projects for American businesses in Ukraine are currently in the defense field, including dual-use technology. That’s according to Valeriy Krasovsky, co-founder and CEO of the leading Ukrainian IT company Sigma Software, who spoke with an Ukrinform correspondent in Washington. “Of course, this is our defense sector. This is a unique experience that we have right now. No one has such experience,” he said. Krasovsky clarified he meant the interest of Western partners in new technology and innovations that Ukraine employs in the defense sector, including dual-use tech. Read also: Nobel laureate Kip Thorne speaks at science and…

Naftogaz Group will receive a EUR 36.4 million loan from the European Bank for Reconstruction and Development (EBRD) to modernize the drilling equipment of Ukrgasvydobuvannya JSC. According to Ukrinform, Naftogaz CEO Sergii Koretskyi announced this on Facebook. "Naftogaz Group is raising a EUR 36.4 million loan from the European Bank for Reconstruction and Development (EBRD) to modernize Ukrgasvydobuvannya’s drilling equipment. The funds will be allocated for the purchase of new mobile drilling rigs to perform complex workovers," Koretskyi stated. Read also: Naftogaz, Poland’s ORLEN agree on strategic cooperation Koretskyi emphasized that upgrading this equipment will enable deeper drilling, improve the…

President Volodymyr Zelensky said Norway would help the country cover gas deficit worth a billion euros. The head of state stated this during a briefing on Monday, an Ukrinform correspondent reports. "I met with the Prime Minister of Norway. We discussed issues that are important for Ukraine now. I received a positive signal from him. This is about gas, on whether we can count on the appropriate volume if we have a deficit in winter. Today I received support from Jonas," Zelensky said after a meeting in Vilnius with Norwegian Prime Minister Jonas Gahr Støre. Read also: Zelensky, Norwegian PM…

The Russian army, which is highly dependent on Western semiconductor technologies, is suffering greatly from U.S. and EU sanctions, since Russia is incapable of developing its own technology of this kind. This was reported with reference to 1.1 million documents, including emails, contracts and presentations, some of which are marked "top secret", analyzed by the Bild am Sonntag publication, DW reports. Bild am Sonntag analyzed internal documents of the Russian-based Scientific and Production Association of Computing Systems (NVO OS), a software developer and equipment producer, including for the Russian armed forces. Due to U.S. and EU sanctions, Russia cannot purchase…