Business news from Ukraine

Business news from Ukraine

СONFERENCE IN SUPPORT OF UKRAINE TO BE HELD IN SLOVAKIA IN EARLY JUNE

A conference in support of Ukraine will be held in Slovakia in early June under the auspices of GLOBSEC, President of the organization Róbert Vass (Slovakia) said.
“GLOBSEC is preparing a large conference in Bratislava for June 2 to June 4 to mobilize military, humanitarian, economic and financial support for Ukraine, where prime ministers, presidents are invited and offered Ukraine the chairmanship of the event,” the Verkhovna Rada said on its website on Friday, citing the words Vass at the meeting of the delegation of parliamentarians of the EU Member States (GLOBSEC) with heads of the Verkhovna Rada committees and First Deputy Chairman Oleksandr Korniyenko.
Vass said that an international group of European parliamentarians, created under the auspices of GLOBSEC, came to Kyiv to support Ukraine in its struggle for sovereignty and independence.
Vass said Ukrainians are not just fighting for its soil, but also for Europe. These are the fundamental foundations of international law, so it is GLOBSEC moral duty to help Ukraine so that Ukrainians are not alone in this struggle. Today, the future of the West is determined in the East. Ukraine has shown that its place is in Europe, in the world of Euro-Atlantic values. GLOBSEC will help in Ukraine’s official accession to Europe, the president of the organization said.
Kornyienko urged European colleagues to involve their parliaments and governments in the restoration of Ukraine, to become partners of Ukrainian regions and cities.
“We heard your message about the conference and our participation in it. We will form both government and parliamentary delegations at the highest level in order to substantively discuss all issues, in particular, specific restoration projects,” Kornienko said.
A delegation of European parliamentarians, together with MPs of Ukraine, visited Bucha and Borodianka destroyed by the Russian Nazis in Kyiv region.
GLOBSEC is an analytical center in Central Europe and organizer of the annual Bratislava Forum.

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PRESIDENT OF UNITED STATES ANNOUNCED ANOTHER AID PACKAGE FOR UKRAINE

US President Joseph Biden announced another security assistance package that will provide Ukraine with additional artillery ammunition, radars and other equipment.
“Today, the United States continues to provide strong support to the courageous people of Ukraine defending their country. I am announcing another security assistance package that will provide Ukraine with additional artillery ammunition, radar and other equipment,” he tweeted on Friday evening.
The White House website also indicates that there are almost no funds left to send aid to Ukraine and prompt approval of funding by Congress is required.
“With today’s announcement, my administration has nearly exhausted the funding that can be used to send security assistance to Ukraine through a reduction authority. For Ukraine to succeed in this next phase of the war, its international partners, including the US, must continue to demonstrate our unity and our determination to ensure a continuous flow of weapons and ammunition to Ukraine. Congress must quickly provide the requested funding to strengthen Ukraine on the battlefield and at the negotiating table.

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UN SECURITY COUNCIL UNANIMOUSLY BACKS PEACE SETTLEMENT IN UKRAINE

On Friday, the UN Security Council unanimously supported a peaceful settlement in Ukraine, UN Secretary General António Guterres said.

“Today, for the first time, the Security Council has unanimously spoken out for peace in Ukraine. As I have often said, the world must come together to silence the guns and uphold the values of the UN Charter,” he tweeted Friday night.

UKRAINE’S INTERNATIONAL CURRENCY RESERVES DECREASED IN APRIL, BUT AMOUNT TO SIGNIFICANT $26.9 BLN

As of May 1, 2022, according to preliminary data, Ukraine’s international reserves amounted to $26 billion 944.9 million (in equivalent), which is 4% less than at the beginning of April ($28.107 billion), according to the data National Bank of Ukraine, released on Friday.

“As of May 1, 2022, Ukraine’s international reserves, according to preliminary data, amounted to $26.945 billion. According to the results of April, they decreased by 4%, taking into account sales by the National Bank, which was partially offset by foreign exchange earnings in favor of the government,” the regulator explained.

He noted that the dynamics of reserves in April was affected by public debt management operations: the total volume of payments for servicing and repaying state and state-guaranteed debt in foreign currency amounted to $614 million in equivalent.

It is specified that $420 million of them were directed to servicing and redemption of domestic government bonds denominated in foreign currency, $78 million – to redeem Eurobonds.

At the same time, in April, foreign exchange receipts in favor of the government amounted to $1 billion 887 million in equivalent, including EUR629 million and $93 million received from the World Bank, EUR300 million from the French government, $236 million from the Government of Canada and EUR120 from the EU.

In addition, the NBU and the government of Ukraine paid $84 million in favor of the IMF in April.

The NBU operations on the interbank market also affected the dynamics of reserves. In April, the regulator sold $2.244 billion in the foreign exchange market and bought $43 million. In general, by the end of April, the volume of net sales of foreign currency by the National Bank in the interbank foreign exchange market amounted to $2.2 billion.

In addition, the dynamics of the indicator was affected by the revaluation of financial instruments (changes in market value and the exchange rate of the hryvnia against foreign currencies): last month their value decreased by $150.3 million in equivalent, according to NBU data.

The regulator also clarified that the net international reserves (NIR) of Ukraine in April decreased by $791 million, or 4.5%, to $16.779 billion.

As reported, at the beginning of 2022, Ukraine’s international reserves amounted to $30.941 billion, NIR – $20.767 billion.

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UKRAINE AND POLAND AGREED TO CANCEL PERMITS FOR PASSAGE OF ALL TRUCKS WITH FUEL

The Ministry of Infrastructure of Ukraine and the Ministry of Infrastructure and Development of Poland have agreed to cancel permits for all carriers engaged in international transportation of fuel, the press service of the Ministry of Infrastructure reported on Friday.
“Russian missile strikes on refineries and oil depots have created a critical situation in the fuel market. The goal of the team of the Ministry of Infrastructure in these conditions is the complete liberalization of international freight traffic to solve this problem. The new rules have already entered into force, and both Ukrainian and and Polish carriers. I am grateful to the Polish side for the constructive work,” Minister of Infrastructure Alexander Kubrakov is quoted as saying.
According to him, work will continue on simplifying cargo transportation and creating the most simple and understandable rules for carriers of goods necessary for Ukraine.
To enter the territory of Poland without a permit, fuel carriers must register by filling out the form: https://forms.gle/waid3FnRX1duve9z8
You must fill out the form no later than one day before crossing the border.
As reported, in April, Ukraine and Poland also agreed to increase the volume of rail transportation of Ukrainian exports to the EU and to world markets through Europe. In particular, the parties will set up a joint logistics venture in the near future.

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METINVEST PLANS TO INVEST IN METALLURGY IN UKRAINE

Metinvest mining and metallurgical group will continue the implementation of investment projects in metallurgy, in particular, at Kametstal plant, created at the facilities of Dniprovsky Metallurgical Plant (Kamyanske, Dnipropetrovsk region).
“In March, Kametstal was the only metal producer in the country. In April, we managed to withdraw from hot conservation and resume production at Zaporizhstal. Metallurgy was one of the key industries in Ukraine in peacetime, and during the war it became a significant source of filling budgets at all levels, which is extremely important for our economy, so we will continue to implement investment projects in production, because the restoration of our country is ahead,” CEO of Metinvest Yuriy Ryzhenkov said during a visit to Kametstal steel plant.
According to him, it will be necessary to rebuild the infrastructure of Ukraine – bridges, roads, buildings.
“For all this, metal is very necessary. And it is precisely in this that the role of Kametstal cannot be overestimated,” he said.
Earlier, the general director of Kametstal, Dmytro Lippa, reported that the enterprise was working and is working with 100% capacity utilization.
“We are provided with orders, there are problems with logistics, but we are solving them,” he said.
Metinvest is a vertically integrated mining group of companies that manages assets in every link of the production chain from iron ore and coal mining and coke production to the production of semi-finished goods and finished products from steel, pipes and coils, as well as the production of other high value-added goods. The group consists of mining and metallurgical enterprises located in Ukraine, Europe and the United States, has a sales network covering all key global markets.

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