On September 8, the Vehicle Fleet of the Administrative Office of the Verkhovna Rada of Ukraine announced a tender for the procurement of services for mandatory carrier liability insurance covering damage caused to the life and health of passengers and damage caused to baggage during transportation.
According to a notice posted on the Prozorro electronic government procurement system, the estimated cost of the services is 90,633 thousand UAH. The deadline for submitting bids is September 24.
liability insurance, Vehicle Fleet of the Administrative Office, Verkhovna Rada Secretariat
According to Experts.news, the structure of Ukraine’s dairy exports has changed significantly over the past year: the share of butter and other milk fats in foreign exchange earnings has more than halved, while dry and condensed milk have become the largest export category, according to an analysis by the Union of Dairy Enterprises of Ukraine (UDEU).
In August 2025, butter and other milk fats under commodity code 0405 accounted for 36% of the value of Ukraine’s dairy exports, whereas in August 2026, their share fell to 15%. At the same time, the share of dry and condensed milk increased from 24% to 37%, and that of whey from 5% to 11%.
The change in structure occurred gradually. Butter accounted for 36% in August 2025, falling to 25% in October, to 22% in March 2026, and to 15% in August. At the same time, the share of dry and condensed milk rose from 24% to 24%, then to 35% and 37%, respectively. Thus, the shift in the structure of Ukrainian dairy exports occurred primarily between the fall of 2025 and the spring of 2026.
According to the SMPU’s assessment, one of the factors was the situation on the global market for milk fats. Butter prices were under pressure, and the Global Dairy Trade index fell for nine consecutive auctions at the end of 2025. Since the export structure is calculated in value terms, the decline in butter’s share is linked not only to physical shipment volumes but also to changes in global prices.
At the same time, experts cite the growing role of whey as the most notable structural change. Its share of export revenue more than doubled over the year. By August 2026, dry milk, condensed milk, and whey together accounted for 48% of the value of Ukraine’s dairy exports.
The share of cheeses—which are considered higher-value-added products with potentially higher profit margins—remained virtually unchanged, at about 24% in August 2025 and 25% a year later. Thus, the structure of Ukraine’s dairy exports is shifting increasingly toward commodities and raw materials.
This trend is unfolding against the backdrop of a general deterioration in the dairy industry’s trade balance. According to data published by the Ukrainian Dairy Producers Association (SMPU) on September 2, Ukraine exported $176.9 million worth of dairy products in January–August 2026, which is 20.5% less than during the same period last year. At the same time, imports increased by 24.7% to $247.2 million.
In volume terms, butter exports fell by roughly half over the eight-month period, while shipments of dry milk and condensed milk decreased by 7%. At the same time, exports of fermented milk products rose by 28%, milk whey by 1.1%, and cheese by 0.9%.
As a result, Ukraine shifted from a trade surplus in dairy products to a trade deficit. For January–August 2026, the deficit totaled $70.3 million, whereas a year earlier the surplus had reached $24.1 million. The export-to-import ratio fell from 1.12 to 0.72.
On the import side, cheese remains the largest category, although its share in August fell year-over-year from 82.3% to 76.9%. At the same time, the share of imported milk and cream, whey, and butter increased, intensifying competition for Ukrainian processors in the domestic market.
The Union of Dairy Enterprises of Ukraine (SMPU) brings together Ukrainian milk producers and processors and represents the interests of companies in the industry. The organization was founded in 2001.
Original source: analysis by the Union of Dairy Enterprises of Ukraine on Ua Dairy
The Greek government plans to increase the tax on the transfer of residential real estate for buyers from countries outside the European Union fivefold—from 3% to 15%. The new measure is set to take effect in 2027 and may directly affect, in particular, buyers from Ukraine if they do not fall into the categories eligible for exemptions under the law.
Greek Prime Minister Kyriakos Mitsotakis announced this decision during a speech at the 90th International Fair in Thessaloniki. On September 7, the government published a detailed description of the tax changes. The authorities explain the increase by the need to limit additional demand for housing from buyers in third countries, which, according to their assessment, contributes to rising prices and reduces the affordability of real estate for permanent residents of Greece.
Currently, the base tax on real estate transfers in Greece is 3% of the property’s taxable value, and when the municipal surcharge is included, the effective rate reaches 3.09%. For homebuyers subject to the new rules, the rate will be 15%, or about 15.45% including the municipal surcharge. Thus, when purchasing an apartment worth 300,000 euros, the tax burden could increase from approximately 9,300 euros to 46,350 euros, and for a property worth 500,000 euros—from 15,450 euros to 77,250 euros.
The increased rate applies specifically to residential real estate. According to the government’s clarification dated September 7, it should not apply to commercial properties, land parcels, or other categories of real estate.
However, not all citizens of non-EU countries will be subject to the increased rate. Exceptions are provided, in particular, for individuals with long-term resident status in Greece, certain citizens of Greek origin, recognized refugees, and holders of specific categories of residence permits. Citizens of the EU and the European Economic Area will also be exempt from the increased rate.
For Ukrainians, the implications of this new measure will depend primarily on their legal and tax status in Greece. Ukraine is not a member of the EU or the EEA, so a Ukrainian citizen purchasing a home as a regular buyer from a third country is potentially subject to the 15% rate. The government’s published clarification does not specifically state whether there will be a special exemption for Ukrainians residing in the country under the temporary protection regime.
Mitsotakis described the tax increase as part of a broader policy to curb housing costs. At the same time, the government intends to extend a number of measures to support the domestic market, including exempting new buildings from VAT, providing tax incentives for long-term leases of vacant properties, and imposing restrictions on new short-term rental properties in certain areas of Athens and Thessaloniki. The government also announced a new €2 billion subsidized housing loan program called “Spiti Mou III.”
Risks in international trade often arise not with the direct counterparty but at subsequent levels of the supply chain. A company may have a reliable supplier that, in turn, depends on a single factory, logistics operator, technology owner, or subsupplier in another country.
That is why international risk management is gradually shifting from simple counterparty verification to the analysis of broader corporate and supplier relationships. This is particularly relevant for Ukrainian businesses because of the war, complicated logistics, sanctions regimes, and the high dependence of many industries on imported raw materials and equipment.
“A company may know its direct partner well and, at the same time, may not know on whom that partner’s operations critically depend. A single problematic subsupplier, a sanctions-related connection, or a production shutdown at the other end of the chain can disrupt a contract in Ukraine. Therefore, modern verification must answer not only the question ‘Who is our partner?’ but also ‘Who does our partner depend on?’” said Maksym Urakin, head of the D&B — Interfax-Ukraine business unit and Candidate of Economic Sciences.
Risk factors include the excessive concentration of procurement from a single supplier, dependence on a single region, opaque corporate relationships, sanctions risks, financial problems at a key company in the chain, or a sudden change of ownership.
For critical supplies, companies should develop a pool of alternative suppliers, determine minimum inventory levels, verify corporate groups, and reassess partners in the event of significant changes. This is particularly relevant to the energy sector, mechanical engineering, pharmaceuticals, the food industry, construction, and other sectors in which the disruption of a single component can block the entire production cycle.
D&B solutions in supplier intelligence and business risk management make it possible to work with global business data, corporate relationships, and risk signals. For Ukrainian companies, this information can provide a foundation for building more resilient supply chains.
In the long term, the verification of supplier relationships is becoming not a one-time procedure but part of a business’s operational resilience.
D&B — Interfax-Ukraine helps Ukrainian companies work with international business data and business identification tools.
Dun & Bradstreet is an international provider of business data and analytical solutions whose history began in 1841. D&B works with data on companies worldwide and provides tools for business identification, counterparty verification, credit and commercial risk assessment, compliance, and supply chain management.
The Interfax-Ukraine News Agency is the official representative of Dun & Bradstreet in Ukraine. The specialized D&B — Interfax-Ukraine division provides Ukrainian companies with access to international business data, helps them verify foreign counterparties, and assists them in working with D&B tools.
Questions can be submitted through the specialized D&B resource — dnb.ua, by email at Urakin@interfax.kyiv.ua, or by telephone at +38 (044) 270-65-74.
BUSINESS, D&B, INTERFAX-UKRAINE, RISK MANAGEMENT, SUPPLY CHAINS
Ferrexpo, a mining company with its main assets in Ukraine, has secured a $15 million credit line from Fevamotinico SaRL, a company owned by Minco Trust, whose ultimate beneficiary is businessman Konstantin Zhevago.
According to a stock exchange announcement, Ferrexpo plc has entered into a loan agreement with its largest shareholder, Fevamotinico, which will provide an unsecured credit line in the principal amount of $15 million.
The purpose of the loan is to provide the company with immediate access to liquidity until the completion of the capital raising process totaling approximately $100 million, as announced on September 4, 2026, as well as to support working capital needs and production operations, which resumed on September 7. The loan effectively serves as an advance payment of a portion (approximately $40 million) of the funds that Fevamotinico has committed to contribute as part of the capital raising.
It is specified that interest on the loan is accrued at a rate of 9.75% per annum; the maturity date is 12 months after the date the funds are disbursed. Repayment of the loan, together with accrued interest, will be made by offsetting the amounts that Fevamotinico is required to pay to Ferrexpo under the share subscription agreement following the company’s listing. This loan is subordinated; therefore, claims under it will be satisfied after the claims of the company’s existing unsecured creditors.
If the general meeting to be held on September 21, 2026, does not approve the capital raise or if the placement agreement is terminated, the company may decide to repay the loan by issuing new common shares at the placement price (or, if the fair market value is lower than the placement price, at such lower price as agreed upon by the company and Fevamotinico), subject to compliance with all legal or regulatory requirements regarding such issuance of shares, including obtaining prior approval from independent shareholders.
In addition, as long as the loan remains outstanding, the loan agreement restricts the group members’ ability to raise debt or provide collateral for obligations, except for those falling within specified permitted categories (in particular, a potential credit line to finance trade transactions, as well as certain agreements entered into in the ordinary course of business or between group companies) .
The terms of the loan provide for certain standard events of default that entitle Fevamotinico to demand early repayment of the loan. However, Fevamotinico has agreed not to take any action to collect the loan debt in cash prior to its maturity date. The loan agreement also contains a standstill provision, under which Fevamotinico undertakes not to make any claims against Ferrexpo or to initiate proceedings for its liquidation, external administration, or any other insolvency-related proceedings, nor to facilitate such actions by other parties.
If the fundraising does not take place and the placement agreement is terminated, the principal amount of the loan, together with accrued but unpaid interest, will be due for repayment in cash on the maturity date, unless the alternative repayment mechanism described above—involving the transfer of shares—is successfully implemented. If Ferrexpo is unable to repay the loan in cash by the specified deadline, and the alternative repayment mechanism involving shares is not implemented, the company will have to raise additional financing or negotiate other terms for settling the debt with Fevamotinico.
Fevamotinico is a related party of Ferrexpo under the UK Listing Rules, as it is a significant shareholder of the company and has the right to vote (or control the exercise of voting rights) with respect to 49.27% of the votes at the general meeting of shareholders. Accordingly, the granting of the loan is considered a related-party transaction.
The company’s directors consider the terms of the loan to be fair and reasonable in the interests of the shareholders. The Board of Directors received appropriate advice from BDO LLP, which acts as the company’s sponsor. In providing this advice to the directors, BDO LLP took into account the commercial assessment of the loan conducted by the directors themselves.
Ferrexpo owns a 100% stake in Yeristovsky GOK LLC, a 99.9% stake in Bilanivsky GOK LLC, and 100% of the shares in Poltava GOK PJSC.
This information has been officially confirmed. On September 7, the Kyiv Defense Council decided to change the city’s operating schedule effective at 12:00 a.m. on September 10, 2026. The curfew in the capital will be in effect from 1:00 a.m. to 5:00 a.m. instead of the current 12:00 a.m. to 5:00 a.m., Kyiv Mayor Vitali Klitschko announced. The decision was made following relevant changes and recommendations from the government.
Due to the shortened curfew, the operating hours of the city’s public transportation system will be extended by one hour. However, the operating hours of restaurants, entertainment venues, and shopping and entertainment centers will remain unchanged.
A separate measure applies to train passengers arriving in Kyiv late. During curfew hours, the city will organize four bus routes from the Central Railway Station so that arriving passengers can reach different parts of the capital. City authorities will announce the specific routes and schedules at a later date.
Metro operations will also change significantly during air raid alerts. Since September 6, Kyiv has been operating a differentiated alert system that includes a yellow level—specifically, in the event of a drone threat—and a red level in the event of a massive drone, missile, or combined threat. (
At the yellow level, the Syretsko-Pecherska Metro Line (the green line) will operate without restrictions, including train service across the South Bridge between the left and right banks.
At the red alert level, service on the open section of the Green Line across the Dnieper will be suspended. Trains will run separately on the “Syrets”–“Vydubychi” and “Slavutych”–“Krasnyi Khutor” sections.
The Svyatoshynsko-Brovarska Line (the red line) will continue to operate on a limited basis. Passengers will be transported along the underground section from “Akademgorodok” to “Arsenalnaya.” The open section across the Dnieper will not be used under these conditions.
To compensate for the restrictions, temporary bus No. 1-M “Dvorets Sporta – Lesnaya” has been in operation since September 3; it passes through “Arsenalna” and covers a significant portion of the Red Line’s surface section. Twelve buses are scheduled to operate on the route during peak hours.
Ground public transportation will continue to operate without general restrictions during air raid alerts. The government explains the new model as an effort to prevent the city’s infrastructure from grinding to a halt during prolonged air raid alerts, while maintaining stricter restrictions when the threat is high.
Starting September 10, traffic regulations on certain bridges will also change. The South Bridge will remain open to traffic during an air raid alert, but there will be a 30-minute closure for operational reasons following the announcement of the alert and another 30-minute closure after the all-clear is given. Access to the bridge from Saperno-Slobodska Street and Mykhailo Boichuk Street will be closed during an alert. The Darnitsky Bridge, the Paton Bridge, the Metro Bridge, and the Northern Bridge will continue to operate under current regulations. Similar half-hour operational restrictions are in place on the Podilsky Bridge, where two-way traffic will also be implemented.
In addition, due to the deteriorating security situation, Kyiv is temporarily banning entertainment and sports events in open areas and in indoor facilities without shelters. At the yellow alert level, Administrative Service Centers (TSNAPs) and social service agencies will be able to continue providing services, while schools and medical facilities will operate in accordance with current safety protocols.
Thus, the information circulating largely corresponds to the official decision. The main clarification: the changes take effect at 12:00 a.m. on September 10, and the shortening of the curfew does not mean an automatic extension of operating hours for restaurants and shopping centers—the city has decided to leave their schedules unchanged.
