Business news from Ukraine

Business news from Ukraine

EUROPEAN UNION BANS TRANSIT, IMPORT OF OIL PRODUCTS FROM BELARUS

The European Union has officially published its list of sectoral sanctions against Belarus.
In line with the decision of the EU Council, which was published in the EU’s official journal, the ban on import or transit from Belarus of highly significant export goods for the country, petroleum products and potash fertilizers, applies to contracts signed after June 25, 2021. The EU sanctions thus do not apply to current contracts for supplies of petroleum products and potash fertilizers.
“It shall be prohibited […] to transport petroleum products if they originate in Belarus, or are being exported from Belarus to any other country; to provide, directly or indirectly, technical assistance, brokering services, financing or financial assistance, including financial derivatives, as well as insurance and re-insurance […]. The prohibitions […] shall be without prejudice to the execution of contracts concluded before June 25, 2021, or ancillary contracts necessary for the execution of such contracts,” the document said.
Similar sanctions are envisaged for potash fertilizers from Belarus. “It shall be prohibited to import, purchase or transfer, directly or indirectly, potassium chloride (‘potash’) products […] from Belarus, whether or not originating in Belarus. The prohibitions […] shall be without prejudice to the execution of contracts concluded before June 25, 2021, or ancillary contracts necessary for the execution of such contracts,” it said.

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BORYSPIL INTERNATIONAL AIRPORT BECOMES PROFITABLE

Boryspil International Airport (Kyiv) in May 2021 posted a profit of UAH 40 million, the press service of the airport reported, with reference to head of the supervisory board Volodymyr Zhmak.
“The return of Boryspil airport to profitability is a positive signal for the entire industry. The implementation of the airport’s anti-crisis program ensured cost reductions while increasing revenues, therefore, returned the airport to the level of profitability,” Zhmak said.
He added that the airport is actively working to attract new air carriers.
“Those airlines that operated at the airport before the crisis continue to fly and increase the number of flights. Moreover, new airlines are coming to us in 2021. In particular, Cyprus Airways began regular flights in May, and in June Flynas low cost airline operated its first flight from Saudi Arabia, we expect Eurowings, Wizz Air Abu Dhabi and several other new carriers,” he added.
As reported, Boryspil International Airport, according to the report of ACI Europe (Airports Council International Europe), ranked 14th in the list of the largest airports in Europe in terms of the number of passengers.

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PRESIDENT OF UKRAINE SIGNS ORDER ON SANCTIONS IN RELATION TO FIRTASH AND FUKS

President of Ukraine Volodymyr Zelensky has approved by decree the decision of the National Security and Defense Council (NSDC) on the introduction of personal sanctions against Ukrainian and Russian businessmen Dmytro Firtash and Pavlo Fuks, the press service of the head of state said.
“To put into effect the decision of the National Security and Defense Council of Ukraine dated June 18, 2021 ‘On the application of personal special economic and other restrictive measures (sanctions),'” the document says.
In total, on the proposal of the Security Service of Ukraine, sanctions were imposed against 538 individuals and 540 legal entities.
Corresponding decree No. 266/2021 of June 24 was published on the website of the head of state and comes into force on the day of its promulgation.

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ZELENSKY SIGNS DECREE ON NEW SANCTIONS AGAINST 55 BANKS OF RUSSIA

President of Ukraine Volodymyr Zelensky by decree No. 264 has put into effect the decision of the National Security and Defense Council (NSDC) of June 18 on the extension and introduction of new sanctions against 55 Russian banks, payment systems and the so-called “central banks” from ORDLO at the suggestion of the National Bank of Ukraine.
According to the document posted on the website of the head of state, this list still includes, in particular, Bank of Moscow, Gazprom Bank, Bank Rossiya, Bank VTB, State Corporation VEB.RF, Sberbank Russia, as well as payment systems MoneyTo, BLIZKO, ANELIK, Kolibri.
With regard to banks that have subsidiaries in Ukraine, the restriction is to prevent the withdrawal of capital from the country.

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COURT POSTPONES CASE REGARDING SHUTDOWN OF TIU CANADA’S SOLAR POWER PLANT FROM ELECTRICITY

The Pivdenny Economic Court of Appeals has postponed the hearing of a case regarding the Nikopol Ferroalloy Plant (NFP) shutdown of TIU Canada’s solar power plant in Nikopol to July 27 due to the absence of one of the defendants, the Canadian company said in a press release on Thursday.
In addition, according to TIU Canada, one of the judges withdrew from the case on the morning of June 24 and was replaced, which was the next stage after the previous three judges recused themselves.
As reported, earlier the company had previously filed a motion to dismiss three judges of Pivdenny Economic Court of Appeals from the hearing the case “because of warnings about the connection between the latter and oligarch Ihor Kolomoisky, who is included in the list of persons subject to U.S. government sanctions.”
TIU Canada argued its distrust by the fact that judges Korsak, Popikova and Yevsikov, whose challenge the company is seeking, had previously ruled in favor of businessman Ihor Kolomoisky, who controls NFP, in the case against the state-owned PrivatBank, admitting that they would not be able to consider the case related to this enterprise without bias.
The 10.5 MW solar power plant was disconnected from the power grid by NFP in March 2020. TIU Canada said that NFP took advantage of the fact that the SPP was connected to a substation located on its territory, and explained the need for disconnection by repair work. The shutdown caused the company in excess of EUR1.5 million losses, which continue to grow.
As a result, Ekotekhnik Nikopol LLC (TIU Canada) filed a claim against NFP with the Kyiv Economic Court. In the middle of February, the company said it would challenge a January 26 court ruling that rejected the company’s claims against NFP.

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THE CONSTITUTION DAY WILL BE CELEBRATED NEAR KYIV

On June, 26, 27 and 28 the «Kyivan Rus Park» invites to celebrate the Constitution Day of Ukraine in a place where our statehood was born, and to spend the holidays and weekends in fresh air with exciting medieval amusements, horse-trick shows, horse riding and tasty dishes prepared on a bonfire.
On June 26, 27 and 28, an interesting entertainment program dedicated to the Constitution Day of Ukraine will take place in Ancient Kyiv. The celebration will begin with the parade of princely flags and the solemn greeting of the Great Prince of Kyiv Volodymyr, and will continue with theatrical stagings on ancient Slavic themes and horse-trick performances. Until the very evening, the visitors will be able to take an active part in merry and cognitive medieval actions, games and amusements.
The demonstrative performances of the actors-stuntmen of the horse-trick theatre of Ancient Kyiv on the virtuoso possession of various types of medieval weapon on a horseback will be the highlight of the program. The guests of the Principality will see the performances of horseback archers: on a horseback at full gallop the sportsmen will compete in the shooting accuracy from real medieval bows. This is an incredibly difficult task for the competition participants, but at the same time, an exciting and thrilling sight for the visitors!
The horses of rare ancient breeds gathered from distant corners of the world in the Princely stable will be the real stars of the festive program. The representatives of some breeds can be found nowhere else in Ukraine, because they were brought to our country in a single number. The horses can be approached, palmed, taken a photo with and ridden on a horseback or in a carriage.
Shooting from the only operating huge throwing weapons in Ukraine – trebuchets – will be the culmination of the festive program.
The visit to Ancient Kyiv is subject to the requirements of the quarantine regime.
* The program may be changed.
Ancient Kyiv opens at 10:00. The program starts at 14:00.
The ticket price: a full adult ticket – 230 UAH, for pensioners and students – 150 UAH, for schoolchildren – 80 UAH, for preschool children – for free.
Ancient Kyiv in the «Kyivan Rus Park» is located in Kyiv region, Obukhiv district, the vill. Kopachiv.
Details on the website www.parkkyivrus.com
The Interfax subscribers can save money with the “openbusiness-20” promo code for a 20%-discount for a full price adult ticket to the Principality of Kyivan Rus:
– by previous order by tel.: +38 044 461-99-37, +38 050 385-20-35
– or at the cash desk at the entrance to the «Kyivan Rus Park».

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