Business news from Ukraine

Business news from Ukraine

Swedish and Ukrainian Saab and Radionix to form defense partnership

Swedish and Ukrainian defense companies Saab and Radionix have signed a memorandum of understanding to form a strategic cooperation in the field of sensors and defense electronics to strengthen Ukraine’s defense capabilities.

According to Saab’s website, the cooperation will involve the development and maintenance of sensors and defense electronics, utilizing the strengths of both companies.

Radionix will provide valuable know-how in the field of radar and optical sighting equipment, while Saab will contribute its experience in the defense industry and knowledge in these technological areas.

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Citi Ukraine has provided a $0.9 mln grant to Unbroken Foundation

Citi Ukraine has provided a grant to the Unbroken Foundation in the amount of USD 900 thousand. The funds were used to purchase a modern Arveo8 GLOW400 microscope.

This high-precision equipment will allow doctors to perform complex operations to remove dangerous shrapnel in the brain and spinal cord, as well as to treat brain tumors. Over the course of a year, the microscope will help to perform 250 neurosurgical operations. Patients will be able to receive the necessary assistance at the UNBROKEN Center at St. Luke’s Hospital of the First Medical Association in Lviv.

Alexander McWhorter, Chairman of the Management Board of Citibank JSC, said: “Supporting healthcare is one of Citi’s key objectives in Ukraine. Investments in healthcare save lives and create the future. We believe that providing a grant for the purchase of a microscope will be a useful contribution to the development of neurosurgery in time of war and will create opportunities for successful treatment of patients at the UNBROKEN Center.”

The Arveo8 GLOW400 microscope will enable the surgeons at the UNBROKEN Center to remove tiny fragments of shrapnel with maximum precision. Thanks to its high technology, even the smallest damaging fragments can be visualized and separated without additional damage to the brain and spinal cord tissue.

Oleksandr Kobzarev, Executive Director of the UNBROKEN Charitable Foundation, emphasized: “We are very grateful for the generous financial support from Citi Ukraine and co-financing from the Meest Foundation. This is a clear manifestation of social responsibility and involvement in solving complex humanitarian issues. Together we prove that cooperation between charitable foundations and business multiplied by the skill of doctors can work real miracles. This equipment will save lives and help restore health to our defenders with the most severe brain injuries. Thank you for being a part of our mission!”

In addition to shrapnel wounds, the microscope will be useful for surgical intervention in the treatment of brain tumors. The surgeons will be able to remove even the most complex tumors, clearly delineating the boundaries of the tumor and healthy tissue.
UNBROKEN doctors say: “This microscope is essential for performing complex surgeries to remove small but extremely dangerous shrapnel in the brain and spinal cord of our defenders.”
Since February 2022, Citi and the Citi Foundation have donated more than $6.5 million to support humanitarian initiatives, including rebuilding schools, providing legal and psychological counseling to women, and helping Ukrainian refugees find safe havens in other countries.

About Citi Ukraine
Citi Ukraine is a member of Citigroup, one of the four largest U.S. banks by assets. We have been in Ukraine for over 25 years. Our offerings cover all aspects of cash and liquidity management, trade services and finance, treasury, corporate finance and lending, securities services and issuer services. We are honored to help unlock the country’s economic potential by serving nearly 500 clients, including the public sector, multinationals, leading Ukrainian companies and foreign investors looking to invest in the Ukrainian market.

About the UNBROKEN Charitable Foundation
The UNBROKEN Charitable Foundation (the “Foundation”) is a charitable organization that specializes in raising funds to help war victims. The Foundation actively cooperates with the National Rehabilitation Center “UNBROKEN”, providing financial support for the provision of comprehensive medical care. In times of war, we are focused on creating opportunities for treatment of Ukrainians in their own country, providing medical facilities with the most modern equipment.

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Ukraine tripled electricity imports in February, exports decreased 7 times

In February 2025, Ukraine increased electricity imports by 33% to 244.2 thousand MWh compared to January and reduced exports by 61% to 33.1 thousand MWh, Ukrainian energy and climate think tank DiXi Group reported citing Energy map.

According to its post on Facebook on Wednesday, the total volume of imports exceeded exports by more than 7 times over the month.

Out of 33.1 thousand MWh of exports, the largest share went to Moldova – 15.5 thousand MWh (47%). Another 10 thousand MWh (30%) went to Hungary, 3.7 thousand MWh (11%) to Romania, 2.9 thousand MWh (9%) to Slovakia, and 1 thousand MWh (3%) to Poland.

DiXi Group experts note that during the last two decades of February, exports were almost non-existent due to a deficit in the power system as a result of massive Russian missile and drone strikes (February 1, 11 and 20), as well as a drop in air temperature.

On the contrary, imports in February, according to their data, increased, reaching 244.2 thousand MWh against 183.1 thousand MWh in January. Of this amount, 85.2 thousand MWh (35%) came from Hungary, 73.3 thousand MWh (30%) – from Slovakia, 46.3 thousand MWh (19%) – from Poland, 37.1 thousand MWh (15%) – from Romania, 2.3 thousand MWh (1%) – from Moldova.

The increase in imports was recorded in all available directions (from 34% to 80%), except for Poland, from which it decreased by 23%.

DiXi Group notes that compared to February 2024, when 84.1 thousand MWh were imported, imports have almost tripled.

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ArcelorMittal Kryvyi Rih to install generators at mine management

ArcelorMittal Kryvyi Rih (Kryvyi Rih Iron and Steel Works, Dnipro region) plans to install electric generators at industrial site No. 1 of the Underground Mining Department of the Mining Department of Kryvyi Rih, according to materials obtained by Interfax-Ukraine.

According to them, it is planned to obtain a permit for emissions of pollutants into the atmosphere by stationary sources of this industrial site.

It is noted that new sources of emissions from the operation of generators that are planned to be used to provide electricity to consumers in the event of a power outage are not subject to environmental impact assessment.

“ArcelorMittal Kryvyi Rih is the largest producer of rolled steel in Ukraine. It specializes in long products, including rebar and wire rod. The company has a full production cycle and its production capacities are designed to produce over 6 million tons of steel, over 5 million tons of rolled products and over 5.5 million tons of pig iron annually.

ArcelorMittal owns the largest mining and metallurgical plant in Ukraine, ArcelorMittal Kryvyi Rih, and a number of small companies, including ArcelorMittal Berislav.

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“Ukrzaliznytsia” reduced transportation volume by 8.4% in January-February 2025

In January-February 2025, Ukrzaliznytsia JSC (UZ) reduced its cargo transportation by 8.4% compared to the same period last year, to 26.28 million tons, said Valery Tkachev, Deputy Director of the Commercial Department, at a meeting of the UZ Exporters Office on Wednesday.

The decrease in cargo transportation is recorded for all types of traffic. In particular, the volume of domestic rail freight transportation decreased by 5.4% to 10.85 million tons, and in the export direction – by 9.1% to 13.87 million tons. Imports decreased by 15.2% to 1.52 million tons. Transit traffic decreased by 70.4% to 0.04 million tons.

The share of cargo transported in the export direction amounted to 53% in the total volume of transportation, as in January-February 2024. At the same time, the share of domestic transportation increased slightly to 41% from 40%. Imports accounted for 6%, the same as last year in the same period.

Earlier it was reported that in January 2025, UZ reduced the volume of transportation by 0.9% compared to January 2024 and by 0.2% compared to December 2024 – to 14 million tons.

DTEK manufactured and repaired 505 units of equipment

In January and February this year, DTEK Energy’s machine builders manufactured and repaired almost 505 units of mining equipment, including two new shearers for mining operations.

The energy holding said in a press release on Tuesday that machine builders also supported the needs of miners with more than 330,000 spare parts and components.

“Power engineers are working non-stop to restore capacities after the shelling, while miners are supporting sufficient fuel needs of thermal generation. And machine builders are working hard to provide them with equipment, spare parts and everything they need for coal mining,” said DTEK Energy CEO Aleksandr Fomenko.

In January, DTEK Energy’s miners commissioned the first two new coal faces this year.

In 2024, the company’s investments in Ukrainian coal mining amounted to UAH 7.5 billion. These funds were spent on the construction and repair of capital mine workings, completion of coal longwalls, mine tunnelling equipment, underground mine transport and production capacity support projects.

“DTEK Energy provides a closed cycle of electricity generation from coal. The company’s installed capacity in thermal generation amounted to 13.3 GW as of January 2022. The company has established a full production cycle in coal mining: coal mining and enrichment, mechanical engineering, and maintenance of mine equipment.

Currently, most of DTEK Group’s thermal generation facilities have been destroyed as a result of Russian attacks.