Business news from Ukraine

Business news from Ukraine

Ukrainian Bar Association criticized amendments to legislation on NABU and SAP

The adoption of the law with amendments to the Criminal Procedure Code (CPC) No. 4555-IX (in the Rada it was under No. 12414) significantly weakens the independence of anti-corruption bodies, jeopardizes Ukraine’s European integration aspirations, and violates the principles of the rule of law and legality, in particular, due to the violation of procedures provided for by the regulations of the Verkhovna Rada, the Ukrainian Bar Association (UBA) made a public statement on Wednesday.

Among the norms criticized by the UBA are the abolition of the exclusive jurisdiction of the NABU and the SAP for corruption crimes, the deprivation of the SAP prosecutors of the authority to refer to the competence of the NABU other proceedings not expressly provided for by the CPC, and the consolidation of the right of the Prosecutor General to request the materials of any proceedings and the possibility of assigning the analysis of such materials for compliance with the requirements of the law to any other prosecutor.

The statement also notes the consolidation of the exclusive competence of the Prosecutor General to report suspicion of top officials and authorizing him to close criminal proceedings against top officials.

“The possibility of appointing a prosecutor without a competition – on the basis of a personal application and based on the results of a special inspection. Such a norm levels the selection standards, contradicts the principle of independence of the prosecutor’s office and creates risks for the legitimacy of personnel decisions”, – commented in the UBA another of the norms of the adopted law.

In its opinion, the fixing of such grounds for suspension of an investigator/detective as non-compliance with the prosecutor’s instructions can be used as a tool to influence the procedural independence.

The Association also pointed out that the grounds for conducting an “urgent” search without a court decision have been expanded to include the seizure or preservation of evidence, whereas previously it was possible only to ensure the life of persons, the safety of property or in the case of prosecution of persons.

The UBA notes that the independence of anti-corruption bodies is a key requirement of international partners and a condition for financial support to Ukraine. Its provision was envisaged, in particular, in the framework of visa liberalization with the EU and programs with the IMF.

“Moreover, such a law may create obstacles for Ukraine’s accession to the EU, because it violates the principles of the rule of law, which is a fundamental component of the European integration process. Given the above, the Ukrainian Bar Association calls on the Verkhovna Rada to initiate an immediate review of the provisions of the law, which undermine the institutional independence of the NABU and SAP,” the statement reads.

The Association also calls on international partners to continue monitoring and promoting compliance with the principles of independence of Ukraine’s anti-corruption system, and on the professional legal community and the public to work out changes that will comply with international standards of the rule of law.

https://interfax.com.ua/

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Processing of soybeans may reach record, while rapeseed will remain at level of 2024/25 – APK-Inform

The processing of alternative oilseeds in the new season may increase in case of signing the bill containing “soybean-rape amendments”, but not significantly, with the processing of rapeseed amounting to 500-550 thsd tonnes, soybeans – 2.7 mln tonnes, sunflower – 13.6-13.8 mln tonnes, APK-Inform news agency reported.

“Indeed, the export duty for soybean and rapeseed may make the domestic prices for oilseeds more attractive for the processing companies, but there are a number of factors that may limit the processing volumes, including the expected lower harvest of alternative oilseeds and higher harvest of sunflower, as well as the existing difficulties with the sale of the processed products,” – the analysts explained.

According to the experts, the potential of rapeseed harvest in Ukraine is decreasing as the harvesting campaign progresses, as it shows much lower yields than expected. Currently, APK-Inform estimates the gross harvest of this crop at about 3 mln tonnes (-18% compared to 2024/25 MY).

At the same time, the competition in this sector between exporters and processors will remain high even with the export duty, as a number of companies already have the obligations under the foreign economic contracts, and the supply of raw materials from farmers remains low, which will support the prices of rapeseed, while the prices of rapeseed oil are still under pressure due to the oil market conditions and the increase of oilseed production in the EU.

“Our estimate of rapeseed processing in Ukraine in 2025/26 season does not exceed 500-550 thsd tonnes (as compared to the previous season). At the same time, if the margin prospects in this sector improve, we may revise the estimate upwards,” the analysts predict.

The prospects of the soybean sector, in their opinion, are also ambiguous.

The area of soybean planting in 2025 turned out to be bigger than forecasted, but according to APK-Inform, the harvest is unlikely to exceed the previous year’s figure and, given the growth of the yield potential, is expected to reach 6.3 mln tonnes (-8%). However, this could be one of the largest figures for the industry, which could have a corresponding impact on prices and keep it attractive for processors.

In the new season, subject to the export duty on soybeans, the processing of soybeans may reach 2.7 mln tonnes (+3%) and become a new record for the industry.

Another important factor will be the amount of sunflower harvested and the margin of its processing.

“It is expected that the production of this oilseed may grow by 8% to about 14 mln tonnes, and the crushing – to 13.6-13.8 mln tonnes, which may slightly reduce the interest of large mills to alternative oilseeds,” APK-Inform summarized.

 

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New Ukrainian ambassador to Sultanate of Oman appointed

Ukrainian President Volodymyr Zelensky has appointed Olga Selikh as Ukraine’s ambassador extraordinary and plenipotentiary to the Sultanate of Oman. The relevant decree No. 531/2025 has been published on the website of the head of state.

Olga Selikh has many years of diplomatic experience working in the Ukrainian Ministry of Foreign Affairs. She has held various positions in the central office of the Ministry of Foreign Affairs and diplomatic missions abroad. Until recently, she worked in one of the departments of the Ministry of Foreign Affairs responsible for the Middle East and North Africa.

The Sultanate of Oman officially established diplomatic relations with Ukraine in 1992. The Ukrainian Embassy in Muscat began its work in 2018. Bilateral cooperation is developing in the fields of trade, education, agriculture, and energy. Oman remains one of Ukraine’s key partners in the Persian Gulf region.

The appointment of a new ambassador to Muscat reflects Ukraine’s desire to intensify bilateral ties and expand its economic and political presence in the region.

 

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Three manufacturers receive state contracts for interceptor drones worth over UAH 3 bln

On Tuesday, the Minister of Defense of Ukraine Denys Shmyhal announced that three manufacturers have received state contracts for the production of interceptor drones.

“The state is developing the market of Ukrainian interceptor drones. Yesterday, three manufacturers received state contracts. In total, we already have four contracts worth more than UAH 3 billion. We will continue to scale these technologies,” he wrote on Facebook on Wednesday.

Shmyhal also said that he and First Deputy Prime Minister Mykhailo Fedorov met with representatives of the Brave1 state defense innovation cluster, the team of the Ministry of Digital Transformation, drone manufacturers, and Ukraine’s largest volunteer foundations.

“We focused on providing drones to our soldiers on the front line. Much attention was paid to interceptor drones, which are capable of countering Russian “shaheds”. The President has set a task to develop this area. We have already signed four state contracts with manufacturers. This week, we also talked to large state-owned banks about lending to manufacturers under state guarantees,” the minister said.

In addition, according to Shmyhal, the Ministry of Defense is negotiating with partners to raise funding for the purchase of such interceptors, and the first agreements have already been reached.

 

New Ukrainian ambassador to United Arab Emirates appointed

President of Ukraine Volodymyr Zelenskyy signed Decree No. 519/2025 appointing Oleksandr Balanutsa as Ambassador Extraordinary and Plenipotentiary of Ukraine to the United Arab Emirates (UAE) and Permanent Representative to the International Renewable Energy Agency (IRENA), headquartered in Abu Dhabi.

Alexander Balanuța is an experienced diplomat who previously served as Ukraine’s Ambassador Extraordinary and Plenipotentiary to the State of Kuwait. Since 2024, he has also served as Ukraine’s Special Representative for Cooperation with the Arab Countries of the Persian Gulf.

His appointment to the UAE is a logical continuation of his diplomatic mission in the Middle East. Balanuța has been actively working to expand economic, energy, and investment ties between Ukraine and countries in the region, including on attracting investment in Ukraine’s renewable energy sector.

Ukraine and the UAE established diplomatic relations in 1992. The Ukrainian Embassy in Abu Dhabi has been operating since 1993. The Emirates are one of Ukraine’s key partners in the Middle East, especially in the context of trade, high technology, and energy.

The appointment of the new ambassador demonstrates Ukraine’s intention to deepen cooperation with the UAE and international institutions such as IRENA in the context of the global energy transition.

IRENA (International Renewable Energy Agency) is an international agency for renewable energy, founded in 2009, which brings together 169 countries (as of 2025). The organization’s goal is to promote sustainable development and the use of all forms of renewable energy worldwide. The agency’s headquarters are located in Abu Dhabi (UAE). Ukraine has been a full member of IRENA since 2018.

 

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PrivatBank finances Naftogaz for almost UAH 5 bln to prepare for winter

Naftogaz Group has attracted a UAH 4.7 billion loan from PrivatBank to fill its underground gas storage facilities with the required volumes of gas, said Serhiy Koretsky, Chairman of the Board of Naftogaz of Ukraine Sergiy Koretsky.

“Naftogaz Group has attracted a UAH 4.7 billion loan from PrivatBank. The funds were used to build up the necessary gas reserves in underground storage facilities for a sustainable heating season,” Koretsky wrote on Facebook on Wednesday.

He noted that cooperation with international financial organizations and partner countries is ongoing.

“I am grateful to the management of PrivatBank for the quick response to our request. I thank the Government for supporting our efforts to prepare for the winter,” said the head of Naftogaz.

The company indicated that it is diversifying sources and routes of gas supply to increase Ukraine’s energy security and resilience in a full-scale war.

As reported, in the spring of 2025, Naftogaz announced its intention to use a EUR 270 million loan from the European Bank for Reconstruction and Development (EBRD) and EUR 140 million in grant funding provided by the Norwegian government through the NORAD fund for the urgent purchase of 1 billion cubic meters of gas. The company has also contracted 440 million cubic meters of liquefied natural gas (LNG) from the Polish concern ORLEN.

 

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