Business news from Ukraine

Business news from Ukraine

EXPERT: UKRAINE SHOULD ALLOW IMPORT, SALE OF FUEL OF EURO-4 QUALITY

During the period of Russian military aggression, Ukraine should allow the import and sale of fuel of the Euro-4 ecological standard, director of the A-95 consulting group Serhiy Kuyun said.
“It is necessary to temporarily allow the use of fuel of Euro-4 standards. The equipment of the Armed Forces of Ukraine will not notice this at all. Tanks, ZILs, diesel locomotives and others will go easily – this equipment is not new for the most part,” he wrote on his Facebook page.
“Civilian transport will also survive. Strict European fuel requirements are mainly for environmental purposes. Now there are much more serious threats to our life and health than the exhaust in traffic jams from refugees’ cars,” Kuyun said.
According to him, there are interesting price offers for Euro-4 on the foreign market, which will increase the filling of the Ukrainian market with fuel.

, , , , ,

UKRAINE SIMPLIFIES PROCEDURE FOR EXECUTION OF LOCAL BUDGETS FOR WAR PERIOD

The Cabinet of Ministers of Ukraine by Decree No. 252 of March 11 approved the procedure for the formation and execution of local budgets during the period of martial law.
“This resolution simplifies budgetary procedures at the local level in order to ensure the functioning of the public sector and the vital needs of territorial communities during the period of martial law,” the Finance Ministry said in a statement on Saturday.
The agency said that, in particular, the document makes it possible to promptly respond to the needs of financial support for territorial defense measures, protecting the security of the population and the functioning of the public sector, utilities during martial law.
“Temporarily, for the period until the cessation or cancellation of martial law, checks by the State Audit Service of the implementation of local budgets are not carried out, and the ongoing checks are stopped,” the resolution also says.

,

UKRAINE MUST IMMEDIATELY ABOLISH VAT, EXCISE ON FUEL

President of Ukraine Volodymyr Zelensky said that the Verkhovna Rada should immediately abolish the value added tax and excise tax on fuel.

He noted that the Cabinet of Ministers has already taken several very important decisions. In particular, the complete abolition of value added tax and excise tax on fuel (gasoline and diesel) was agreed upon.

According to the head of state, this is being done not only in the context of the upcoming sowing campaign, but also based on the needs of all citizens.

“So that there is no shortage of fuel in the country and prices are stable. The government has done its part of the work. Now it is up to the MPs. They must immediately support this decision with their vote,” Zelensky said in a video message on Saturday.

USA BANS SUPPLY OF LUXURY GOODS TO RUSSIA

The United States bans the supply of luxury goods to Russia, complicates the purchase of expensive goods for oligarchs in the country, U.S. President Joe Biden said on Friday.

Referring to the measures against representatives of major Russian businesses, Biden said the U.S. Administration is also going to make it harder to buy luxury goods in the United States for Russians.

“We’re banning export of luxury goods to Russia,” the U.S. president said.

He also said that new names of billionaires from Russia and their families will be included to the U.S. sanctions lists.

In addition, this decision also applies to Belarus. The U.S. Department of Commerce released a statement saying that its Bureau of Industry and Security has imposed restrictions on the export, reexport and transfer (in country) of luxury goods to all end users in Russia and Belarus, as well as to certain “Russian and Belarusian oligarchs.”

This decision is expected to come into force on March 11.

INDIAN KUSUM DONATES 20 TONNES OF MEDICINES TO UKRAINE

The Kusum Charitable Trust (India, part of the Kusum Group) donated 20 tonnes of medicines to Ukraine as humanitarian aid.
The Kusum group told Interfax-Ukraine that humanitarian aid will be sent to help the wounded and injured as a result of the war on the territory of Ukraine.
The list of drugs also included the necessary antibiotics for antipyretics.
“The first part of the aid, which is more than 20 tonnes of vital medicines for a total amount of more than UAH 6 million, was delivered by an Indian Air Force aircraft to a safe area and is on its way to Ukraine,” the Kusum group said.
“Kusum recognizes and appreciates the efforts of the Ukrainian Embassy in India, the Indian Foreign Ministry and the Indian Air Force for their support in delivering this humanitarian aid on time and with the utmost care,” the group said.
The Kusum group of pharmaceutical companies includes four modern plants: three in India and one in Ukraine, as well as two own research centers.

, ,

SWITZERLAND TO GRANT CHF 80 MLN FOR HUMANITARIAN ASSISTANCE TO UKRAINE

The Swiss Federal Council has decided to increase humanitarian aid to Ukraine and other countries of the region to CHF 80 million.
“In response to the refugee crisis, the Federal Council, at its meeting on March 11, decided to increase humanitarian assistance to Ukraine to CHF 80 million. With this contribution, Switzerland expresses its solidarity with the people of Ukraine in difficult times,” the Federal Council said in a statement on Friday.
A quarter of this amount will go to help Ukrainian refugees in neighboring countries. Three quarters are intended to help those who remained in Ukraine. The funds will benefit the Red Cross and Red Crescent Movement, UN agencies, international and local NGO and projects implemented by the Swiss Agency for Development and Cooperation (SDC) in Ukraine.
About 12 million people are currently dependent on emergency assistance as a result of Russia’s attack on Ukraine.

, ,