Business news from Ukraine

Business news from Ukraine

Sunflower prices in Ukraine have fallen due to suspension of oil exports

Purchase prices for sunflower seeds in Ukraine have fallen due to the suspension of oil and meal exports as a result of the Russian strike on the oil extraction plant (OEP) in the port of Pivdennyi, according to the Electronic Grain Exchange.

According to the exchange, Ukrainian processors have sharply reduced their purchase prices for sunflower seeds due to damage to the vegetable oil transshipment terminal at the oil extraction plant, the suspension of maritime exports, and the increased risk of attacks on other plants.

“Purchase prices for sunflower seeds yesterday (Monday – IF-U) fell by 1,000-1,300 UAH/t to 27,000-27,500 UAH/t, or $560-570 per ton (excluding VAT) with delivery to the plant,” the exchange said.

Currently, processors have sufficient stocks of sunflower seeds, experts said, but the suspension of maritime exports will force them to reorient exports across the western border, as was the case in 2022, which will increase logistics costs.

As reported, on the night of December 22, the Russian army attacked the port and energy infrastructure of the Odesa region, resulting in containers with flour and oil catching fire. As a result of the attack on December 23 on the port infrastructure of Odesa, a ship flying the Lebanese flag, which was transporting Ukrainian soybeans, was also damaged.

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Ukrainian universities will continue to enjoy free access to Scopus and WoS

Ukrainian higher education institutions and scientific establishments will continue to enjoy free access to key international scientometric and full-text resources Scopus and WoS in 2026, according to the Ministry of Education and Science of Ukraine.

“Clarivate has confirmed uninterrupted access for Ukrainian institutions to Web of Science, InCites, and Derwent Innovation resources until December 31, 2026. The decision is aimed at supporting the Ukrainian scientific community and ensuring stable access to reliable scientific information in the context of the war,” the statement said.

It is noted that Elsevier has also confirmed the continuation of access for Ukrainian educational and scientific institutions to its scientific electronic resources, in particular Scopus and SciVal, in 2026, which will allow researchers and teachers to work with relevant international publications and use modern analytical tools.

In addition, Ukrainian universities and scientific institutions will have free access to full-text electronic resources on the Research4Life platform until the end of 2027.

“The Research4Life portal provides access to over 200,000 titles of books and journals from international publishers, including Elsevier, Springer Nature, John Wiley & Sons, Taylor & Francis, Emerald, Sage Publications, Oxford University Press, Cambridge University Press, IOP Publishing, and others,” the ministry said.

The Ministry of Education noted that continued access to international scientific resources is an important element of integrating Ukrainian science into the global research space and supporting the ability of educational and scientific institutions to operate even in conditions of full-scale war.

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Steel production in Ukraine increased by 18.5% in November

In November of this year, Ukrainian metallurgical companies increased steel production by 18.5% compared to the same period last year, from 541,000 tons to 641,000 tons, but decreased by 1.1% compared to the previous month (648,000 tons).

In the ranking of global producers of this product, compiled by the World Steel Association (Worldsteel), Ukraine ranked 20th among 70 countries.

According to Worldsteel, in November 2025, there was a decrease in steel production compared to November 2024 in half of the top ten countries, except for India, the US, Turkey, Iran, and Brazil.

The top ten steel-producing countries in November were as follows: China – 69.870 million tons (down 10.9% from November 2024), India – 13.713 million tons (up 10.8%), the US – 6.8 million tons (+8.5%), Japan – 6.774 million tons (-1.6%), Russia – 5.190 million tons (-6.6%), South Korea – 4.965 million tons (-4.8%), Iran – 3.356 million tons (+9.2%), Turkey – 3.312 million tons (+10%), Germany – 2.841 million tons (-2.6%), and Brazil – 2.8 million tons (+0.7%).

Overall, steel production in November this year decreased by 4.6% compared to the same period last year, to 140.130 million tons.

Based on the results of the first 11 months of this year, the top ten steel-producing countries are as follows: China – 891.670 million tons (-4% compared to January-November 2024), India – 150.062 million tons (+10.3%), the US – 75.103 million tons (+3.2%), Japan – 74.102 million tons (-3.9%), Russia – 61.774 million tons (-5%), South Korea – 56.109 million tons (-3.7%), Turkey – 34.589 million tons (+2%), Germany – 31.346 million tons (-9.3%), Brazil – 30.788 million tons (-1.5%), and Iran – 28.798 million tons (+0.1%).

Over the first 11 months of this year, Ukrainian steel companies reduced steel production by 3.1% compared to the same period last year, from 7.028 million tons to 6.813 million tons. The country ranked 21st.

Overall, global steel production in January-November 2025 decreased by 2% compared to the same period in 2024, to 1 billion 662.222 million tons.

As reported, at the end of 2024, the top ten steel-producing countries among 71 countries were as follows: China – 1 billion 5.090 million tons (-1.7%), India – 149.587 million tons (+6.3%), Japan – 84.009 million tons (-3.4%), the US – 79.452 million tons (-2.4%), Russia – 70.690 million tons (-7%), South Korea – 63.531 million tons (-4.7%), Germany – 37.234 million tons (+5.2%), Turkey – 36.893 million tons (+9.4%), Brazil – 33.741 million tons (+5.3%), and Iran – 30.952 million tons (+0.8%).

In total, 71 countries produced 1 billion 839.449 million tons of steel last year, which is 0.9% less than in 2023.

At the same time, Ukraine produced 7.575 million tons of steel in 2024, which is 21.6% higher than in 2023 (6.228 million tons). The country ranked 20th in 2024.

In 2023, China produced 1 billion 19.080 million tons (at the level of the previous year), India – 140.171 million tons (+11.8%), Japan – 86.996 million tons (-2.5%), the US – 80.664 million tons (+0.2%), Russia – 75.8 million tons (+5.6%), South Korea – 66.676 million tons (+1.3%), Germany – 35.438 million tons (-3.9%), Turkey – 33.714 million tons (-4%), Brazil – 31.869 million tons (-6.5%), and Iran – 31.139 million tons (+1.8%). In total, 71 countries produced 1 billion 849.734 million tons of steel in 2023, which is 0.1% less than in 2022.

At the same time, Ukraine produced 6.228 million tons of steel in 2023, which is 0.6% less than in 2022. The country ranked 22nd in 2023.

At the end of 2022, the top ten steel-producing countries were as follows: China – 1.013 billion tons (-2.1%), India – 124.720 million tons (+5.5%), Japan – 89.235 million tons (-7.4%), the US – 80.715 million tons (-5.9%), Russia – 71.5 million tons (-7.2%), South Korea – 65.865 million tons (-6.5%), Germany – 36.849 million tons (-8.4%), Turkey – 35.134 million tons (-12.9%), Brazil – 33.972 million tons (-5.8%), and Iran – 30.593 million tons (+8%).

Ukraine ranked 23rd in 2022 with 6.263 million tons of steel (-70.7%).

In total, 64 countries produced 1 billion 831.467 million tons of steel in 2022, which is 4.3% less than in 2021.

Earlier, the Experts Club analytical center released a video analysis of the world’s leading steel producers from 2001 to 2024 – https://youtube.com/shorts/VgUU9MEMosE?si=c5yD04gmNtJoFblB

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Family of Belgian baron is selling château near Paris for $22.9 mln

The family of Belgian baron Alain Guillaume, who passed away in 2024, has put a centuries-old château near Paris up for sale for $22.9 million, according to The Wall Street Journal.

In the early 18th century, the Chateau de la Breteche was purchased for the needs of Louis-Alexandre de Bourbon, Count of Toulouse and legitimized son of King Louis XIV. The Guillaume family has owned it since the 1940s.
The building covers an area of about 1,500 square meters, and the grounds cover about 18 hectares. The house has 10 bedrooms and seven bathrooms.

The first floor features a series of living rooms with Chinese antique furniture, and the grand main staircase was built in the 1730s.
The plot also has a number of other buildings, a tennis court, and a swimming pool over 15 meters long.

The chateau is being sold by the French company Junot Chateaux & Patrimoine.

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Rare sword from times of Kievan Rus was transferred to Museum of Ukrainian History

A rare sword from the times of Kievan Rus, accidentally found in the Zhytomyr region, was transferred to the National Museum of Ukrainian History. It is planned to be examined and transferred to the exhibition, the press service of the institution reported.

“On the eve of Christmas, our museum received an unexpected gift – (…) an ancient sword, accidentally found near Radomyshl, and two axes. This exceptional and rare sword dates back to the second half of the 10th – early 11th centuries. The Varangian guards of the Kyiv princes were armed with such swords,” the museum said in a Facebook post on Tuesday.

The artifacts found were donated to the museum by Viktor Moschenko and his daughter Natalia. It is noted that the location is also symbolic. Radomyshl is the territory of the former Drevlyans, where bloody events took place during the times of Oleg, Igor, and Olga.

The Slavic tribe of the Drevlyans lived in the Left Bank Polissya. It was an independent state with a developed economy, princely power, and fortified cities such as Iskorosten (modern Korosten), Vruchy (now Ovruch), Malyn, Mychesk, and Mykhorod (today Radomyshl).

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Gold price hits record high for 50th time since beginning of year

The price of gold on the spot market hit a record high for the 50th time since the beginning of the year due to expectations of a Fed rate cut and demand for safe-haven assets.

During trading on Tuesday, the spot price of gold rose 0.7% to $4,473 per ounce. The day before, gold rose at a record pace for the month, and since the beginning of the year, it has risen 70% and shown the best annual dynamics since 1979.

Other precious metals are also rising in price: the cost of silver increased by 0.2% to $69.2 per ounce, platinum by 1.3%, and palladium by 1%.

Market participants are monitoring events surrounding Venezuela. According to media reports, last weekend the US Coast Guard attempted to intercept another oil tanker allegedly linked to the country’s shadow fleet.

“Geopolitical tensions are back on the agenda,” said Ahmad Assiri of Pepperstone Group. “These events may not have caused an immediate reaction, but they certainly increase the demand for gold as a hedge against risk.”

In addition, investors believe that the Fed will continue to lower its key rate amid a weakening labor market. Low interest rates are a positive factor for gold prices, as they increase the relative attractiveness of investments in precious metals, which do not generate interest income.

Goldman Sachs analysts predict that in 2026, gold will rise to $4,900 per ounce in the base scenario.