Business news from Ukraine

Business news from Ukraine

UKRENERGO PUTS INTO OPERATION 330 KV TRANSMISSION LINE IN SOUTH OF UKRAINE

NPC Ukrenergo put into operation one of the 330 kV high-voltage transmission lines in the south of Ukraine, which made it possible to improve the output of generation power, including nuclear and thermal.
“Today, one of the 330 kV high-voltage lines in the south of Ukraine was put into operation. This made it possible to improve the power output of a number of power plants, including thermal and nuclear ones. Thus, now all nuclear power plants are working stably in the network, as well as plants of other types – thermal power plants, hydroelectric power plants and renewable energy sources,” Ukrenergo noted on its Telegram channel on Thursday evening.
The company emphasized that the frequency in the network is stable – 50 Hz.
Ukrenergo also indicated that work on the restoration of main power grids is ongoing: a substation and a 750 kV line are being restored, as well as two 330 kV lines in Kyiv region, two more 330 kV lines that run through Kyiv and Chernihiv regions have been repaired and getting ready to operate.
According to the company, distribution system operators resumed power supply to more than 19,800 consumers over the past day.
“Consumption is stable and shows a growth trend,” Ukrenergo assured.
As reported, on Thursday morning, Energoatom reported that due to damage to the high-voltage transmission line 330 kV, the Zaporizhia NPP switched to work to provide only their own needs.

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VARIANT IRRIGATION TO SUPPLY IRRIGATION MACHINES TO BULGARIA

The leading Ukrainian manufacturer of sprinkler equipment Variant Irrigation (Kharkiv) signed a contract with a large agricultural holding in Bulgaria for the supply of six sprinkler machines with a length of 350 to 600 meters, the company’s website reported on Thursday.
The project, the cost of which was not disclosed, in addition to the supply of irrigation equipment, provides for the creation of infrastructure – the laying of main pipelines for the customer.
“Despite the difficult situation in Ukraine caused by Russia’s military aggression, domestic producers continue to work, look for new markets, and reformat their processes. The management of Variant Irrigation decided to save production equipment as much as possible, retain personnel, stay in Ukraine, and gradually establish production processes in safe regions,” the report says.
As reported, from June, new relocated production of Variant Irrigation in the west of Ukraine will start operating in the regular mode.
Variant Irrigation is the Ukrainian irrigation market leader in terms of the number of supplied wide-sprinkler sprinklers.

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JOE BIDEN ASKS CONGRESS TO APPROVE ADDITIONAL ASSISTANCE TO UKRAINE AS QUICKLY AS POSSIBLE

On Wednesday, U.S. President Joe Biden said that he asked Congress to approve his request for additional financial assistance to Ukraine as soon as possible.
“I just signed a request to Congress for important security, economic, and humanitarian assistance to Ukraine. (…) It is critical this funding gets approved and approved as quickly as possible,” Biden said, speaking at the White House.
He said he acknowledges that such assistance is “not cheap.”
Biden said the U.S. administration needs additional funds to transfer artillery, air defense systems, and armored vehicles to Ukraine.
“This assistance will give Ukraine additional artillery, armored vehicles, anti-tank and anti-air capabilities,” he said.
He said that a request to the U.S. Congress for additional funds for Ukraine should meet both the current defense needs of the Ukrainian military and longer-term security needs.
Biden said the United States and allies have already delivered over 50 million pieces of military equipment to Ukraine, including thousands of anti-tank and anti-aircraft systems, helicopters, drones, grenade launchers and machine guns.
Additional funding to help Ukraine is needed, as the previously allocated funds are almost completely used.
Biden called on Congress to allocate $33 billion to help Ukraine in the defense and humanitarian spheres, as well as to strengthen the defense of European countries, the White House said. This funding is intended for the period until September 2022, the CNBC channel said.
The White House said in the statement that, among other things, some $20.4 billion is expected to be allocated both for military assistance to Ukraine and for “U.S. efforts to strengthen European security in cooperation with our NATO allies and other partners in the region.” This is about the supply of weapons to Ukraine and a number of European countries, artillery, armored vehicles, anti-tank and anti-aircraft weapons. It is also planned to direct this assistance to strengthening the means of protection against cyberattacks, demining territories. At the same time, they plan to send $4 billion to the program of foreign military financing of the U.S. Department of State.
Of the funds requested by Biden, some $ 8.5 billion will be directed to support the Ukrainian economy. These funds are intended to finance the Ukrainian government, help Ukraine in the food, energy and medical fields.
The CNBC television channel, in turn, said, thus, in nine months, the total U.S. spending on Ukraine would exceed $36 billion.
In addition, according to the White House, some $3 billion will be allocated for humanitarian assistance around the world in the form of supplies of wheat and other goods. In addition, they plan to allocate $500 million as assistance to domestic production. This amount is expected to support U.S. production of food crops that are in short supply around the world due to Russia’s aggression against Ukraine.
In addition, Biden decided to ask Congress for approval of a package of laws that will help the administration use the confiscated assets of individuals associated with Russia to provide assistance to Ukraine. The White House said in the statement that the president “will send a proposal for a comprehensive legislative package that will enhance the United States Government’s authority to hold the Russian government and Russian oligarchs accountable for President Putin’s war against Ukraine.” Biden’s proposals, in particular, provide for the use of confiscated assets of persons subject to sanctions.
In parallel, similar measures are being considered in the U.S. Congress. Thus, on Thursday night, the House of Representatives approved a bill that gives the president the opportunity to use some of the assets frozen under sanctions against Russia to provide humanitarian and military assistance to Kyiv. ” The Asset Seizure for Ukraine Reconstruction Act takes an important step in rebuilding the country Russia has destroyed,” Congressman Tom Malinowski, co-author of the document, said on social media.
The New York Times said that 417 congressmen supported the bill, with eight opposed.

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EXPERTS: UKRAINIAN FARMERS TO INCREASE THEIR PRESENCE IN UK MARKETS OF POULTRY, WALNUTS, HONEY, BERRIES AND PEAS

The cancellation by the UK of all duties and quotas on products from Ukraine to support it in the face of a military invasion by the Russian Federation may allow Ukrainian farmers to increase their presence in the UK markets of poultry meat, walnuts, honey, cranberries, blueberries and peas.
The list of high-margin agricultural products that Ukraine could supply to the UK at a time when the export of its traditional agricultural raw materials is blocked by the aggressor country of the Russian Federation was published on the website of the Ukrainian Agribusiness Club (UCAB) on Wednesday evening.
According to the results of 2021, agricultural products worth $553 million were exported from Ukraine to the UK, including sunflower oil (31% of export earnings), rapeseed (28%) and corn (24%). However, the supply of traditional agricultural crops in 2022 is difficult due to the naval blockade of Ukraine by Russian warships, as a result of which the country can potentially increase the export of a number of other agricultural products by road.
Ukrainian farmers, in particular, can focus their export efforts on the supply of poultry meat to the UK. The volume of its export in 2021 was 2,600 tonnes. The share of Ukraine of UK imports is 1%. Main competitors: the Netherlands, Poland, and Belgium.
The export of walnuts without shells is also promising. The volume of its export in 2021 was 0700 tonnes. The share of Ukraine of UK imports is 6%. Main competitors: the United States, Germany, and China.
According to the UCAB, Ukrainian farmers can increase honey exports to the UK (800 tonnes were delivered in 2021). The share of Ukraine of UK imports is 1%. Main competitors: China, Poland, and Mexico.
The export of cranberries and blueberries is also promising (supplies in 2021 – 200 tonnes). The share of Ukraine of UK imports is 0.3%. Main competitors: Spain, Peru, and Chile.
Ukraine exported 4,900 tonnes of peas to the UK in 2021, which amounted to 12% of the UK market in 2021. At the same time, Russia is Ukraine’s main competitor in this market, which, taking into account the economic sanctions imposed against it, adds an advantage to Ukrainian suppliers.
“Now the railways and seaports of neighboring countries are heavily loaded due to the export of grain crops, the volumes of which we have the largest. Therefore, to increase export earnings, we should focus on the export of goods that have a higher price with less weight and thus export by road,” UCAB cites a promising export model from its analyst Svitlana Lytvyn.

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BULGARIAN PM: BULGARIA TO BE PLEASED TO TAKE PART IN UKRAINE’S RECONSTRUCTION

Bulgaria will be pleased to participate in the restoration of Ukraine, Bulgarian Prime Minister Kiril Petkov has said.
“As for your proposal to Bulgaria to participate in the reconstruction of Ukraine, we will be more than happy to do so. We have many cities with many Bulgarian-speaking Ukrainians, and Bulgaria will be pleased to take a constructive part,” Petkov said at a press conference with President of Ukraine Volodymyr Zelensky in Kyiv on Thursday.
The head of government said Bulgaria can also help Ukraine with the help of the trans-Balkan gas pipeline.
“When we talk about energy security, Bulgaria can help Ukraine through the use of the trans-Balkan gas pipeline, through which we can supply gas from LNG terminals in Greece and Turkey to Ukraine, which will give both our countries a lower price and the possibility of deliveries,” he said.
In addition, Petkov said Bulgaria supports Ukraine’s accession to the EU.
“It is very important for Bulgaria that Ukraine sees a clear path to the EU. It is time for us to say that Ukraine belongs, is part of the European family, and we must give a clear sign and a clear path as soon as possible. You have a strong voice for Bulgaria when we meet with many European colleagues,” he said.

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HOUSE OF REPRESENTATIVES OF US CONGRESS PASSES LAW ON LEND-LEASE FOR UKRAINE

On Thursday evening, the US House of Representatives adopted a law on lend-lease and the protection of democracy in Ukraine, head of the Office of the President of Ukraine Andriy Yermak said.
“Lend-lease for Ukraine has finally been opened. The law has been voted on. Thanks to our allies,” Yermak wrote on his Telegram channel on Thursday evening.
The text of the document refers to granting the US President expanded powers to transfer or lease defense assets to Ukraine to “protect the civilian population from Russian military invasion” and for other purposes.
“After the adoption of the act, the chairman of the White House is obliged within 60 days to establish accelerated procedures for the delivery of products. The Lend-Lease Act allows us to significantly speed up the supply of weapons, transport, food and aid from the United States. And all this will allow us to drive the Russian army out of our territories” , – wrote the head of the OP.
He noted that Lend-Lease “means the US confidence in Ukraine’s victory over Russia.”
“This will be an important victory for our indestructible people, who were able to unite the civilized world around them in the fight against the Russian evil,” Yermak summed up.

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