The eurozone economy grew by 0.3% in the first quarter of 2025 compared to the previous three months, according to a report by the European Union’s statistical office, which presented revised data. In annual terms, eurozone GDP grew by 1.2%.
Earlier, GDP growth of 0.4% compared to the previous quarter and 1.2% compared to the first quarter of last year was reported. Experts on average expected both estimates to be confirmed, according to Trading Economics.
In October-December last year, the eurozone economy grew by 0.2% compared to the previous quarter and by 1.2% year-on-year.
Germany’s GDP rose by 0.2% in the first quarter compared to the previous quarter, Italy’s by 0.3%, France’s and the Netherlands’ by 0.1%, and Spain’s by 0.6%.
The EU economy grew by 0.3% quarter-on-quarter and 1.4% year-on-year in the last quarter. Among EU countries, quarter-on-quarter GDP declines were recorded in Hungary (0.2%), Portugal (0.5%), and Slovenia (0.8%). Ireland showed the most active growth, at 3.2%.
This is the second estimate of the change in eurozone GDP out of three. The final data will be published on June 6.
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The Export Credit Agency (ECA) insured foreign economic contracts of 33 Ukrainian enterprises in January-April 2025, thus securing UAH 5.35 billion in future export revenues, according to the website of the Ministry of Economic Development and Trade.
It is emphasized that during the same period last year, the volume of supported exports amounted to 1.7 billion hryvnia.
“This growth indicates that businesses see the effectiveness of this protection tool. Insurance of export contracts has enabled manufacturers to reduce the risk of non-payment and gain access to bank financing. This helps companies scale up production and enter new markets,” said Deputy Minister of Economy of Ukraine Andriy Telyupa.
During this period, the most active exporters were companies from Lviv (UAH 1.37 billion), Khmelnytskyi (UAH 1.31 billion), and Volyn (UAH 1.12 billion) regions. Ukrainian companies exported furniture, food products, wood, wood products, and processed fruit and vegetables to Poland, the Netherlands, Lithuania, Estonia, the United Kingdom, and other countries.
The largest partners of the ECA among banks during this period were: Creditwest Bank – UAH 109 million in loans issued, Oschadbank – UAH 92.5 million, and Ukrgasbank – UAH 90 million.
The Export Credit Agency of Ukraine (ECA) is a state institution that supports non-raw material exports by insuring the risks of enterprises and banks. The agency insures foreign economic contracts, export credits, bank guarantees, and investment credits against military risks.
In wartime, the banking sector remains the main source of additional financing for Ukraine’s agribusiness, including for modernizing production, upgrading agricultural equipment, and developing processing. This was stated by Pavlo Guzyr, Head of Alternative Sales Channels, Agro Fabrika, OTP BANK JSC, during the international conference Black Sea Grain. Kyiv – 2025, organized by UkrAgroConsult.
The Bank’s expert took part in a panel discussion entitled “Hot corners and zigzags in the regulation of agricultural exports 2024-2026” together with Oksana Osmachko, Deputy Minister of Agrarian Policy and Food of Ukraine, Olena Voloshina, Head of the International Finance Corporation (IFC) in Ukraine, and representatives of the agricultural market.
“The banking sector undoubtedly occupies a leading position among sources of additional financing for the agricultural sector. According to the Ministry of Agrarian Policy and Food of Ukraine, last year banks financed Ukrainian agribusiness with UAH 100 billion. At the same time, 52% was issued by banks with foreign capital. As one of the leaders in financing agribusiness, OTP BANK offers a wide range of programs for business. We divide all our programs into two broad categories: working capital replenishment and investment lending. The first allows you to raise funds for current purposes, including the purchase of seeds, grain, and other agricultural raw materials for trading and processing, export and import operations, etc. Within this area, the Bank provides financing under the terms of the “Affordable Loans 5-7-9” program, standard financing rates in hryvnia and foreign currency, partner compensation programs, trade factoring, and documentary operations. The second area includes programs to attract financing for the renewal of agricultural machinery and freight transport, the modernization of elevator equipment, and the development of processing capacities. OTP Bank is also a leader among banks in financing agricultural producers under agricultural financial receipts. Currently, the Bank is actively involved in the introduction of a new financial instrument – agricultural notes, which are being implemented in Ukraine by the IFC with the support of the Swiss Confederation,” said P. Guzyr.
He added that Ukrainian farmers are increasingly interested in banking programs and are actively attracting loans for various purposes. In particular, OTP Bank is seeing growing interest from businesses in raising funds for energy-efficient solutions that ensure energy independence for enterprises. The bank is implementing a special program under which it provides loans to businesses for the installation of solar power plants, generators, cogeneration units, and other energy-efficient equipment. This program also provides up to 15% cashback from the amount of financing with the support of the European Bank for Reconstruction and Development.
At the same time, OTP BANK provides financing for up to 7 years to agricultural enterprises for the purchase of agricultural land. “Farmers are actively interested in this loan program. The Bank is currently considering several dozen requests from agricultural producers seeking financing for the purchase of agricultural land in various regions of Ukraine,” said P. Guzyr.
He noted that OTP BANK also participates in state programs to support the agricultural sector, in particular the “Made in Ukraine” program, which provides up to 25% compensation for the cost of agricultural equipment from domestic manufacturers. “This program is extremely popular among Ukrainian farmers. I think it should definitely be continued and expanded. “Made in Ukraine” is a successful example of state support for domestic producers, as it stimulates the production of both agricultural products and agricultural machinery and equipment,” emphasized P. Guzyr.
Read more about OTP BANK’s agribusiness financing programs in Pavlo Guzyr’s column for Agravery: https://agravery.com/uk/posts/author/show?slug=bankivske-kredituvanna-ak-osnovne-dzerelo-dla-zalucenna-dodatkovih-kostiv-v-agrosektor-v-umovah-vijni
Source: https://interfax.com.ua/news/press-release/1072303.html
On May 16, 2025, the first direct talks in more than three years between delegations from Ukraine and Russia began in Istanbul, aimed at finding ways to end the ongoing conflict.
The meeting is being held at the Dolmabahçe Palace, mediated by Turkey and attended by high-ranking US officials.
The Ukrainian delegation is led by Defense Minister Rustem Umerov. It also includes Deputy Foreign Minister Serhiy Kyslytsya, Deputy Head of the Security Service of Ukraine Oleksandr Polak, and other high-ranking representatives of law enforcement and diplomatic agencies.
The Russian side is represented by Presidential Aide Vladimir Medinsky. The delegation also includes Deputy Foreign Minister Mikhail Galuzin, Director of the Main Directorate of the General Staff (GUGS) Igor Kostyukov, and other officials.
Before the start of the bilateral talks, trilateral meetings were held: first between Turkey, the US, and Ukraine, and then between Turkey, Russia, and Ukraine. Turkish Foreign Minister Hakan Fidan and US Secretary of State Marco Rubio are also participating in the talks.
Reactions and expectations
Ukrainian President Volodymyr Zelensky expressed disappointment at the absence of Russian President Vladimir Putin from the talks, saying that the Russian delegation “has no authority to make decisions.” He stressed that Ukraine is committed to achieving a 30-day ceasefire, while Russia insists on broader negotiations, including issues of territorial concessions and renouncing NATO membership.
The United States and European countries support the initiative to establish a 30-day ceasefire. US President Donald Trump said that significant progress is only possible if he meets with President Putin in person.
International support
China has expressed support for direct talks between Russia and Ukraine, calling on all sides to reach a fair and lasting peace agreement.
Turkey, represented by President Recep Tayyip Erdogan, continues to play an active role in mediating between the parties to the conflict, providing a platform for talks and facilitating dialogue.
Despite low expectations, the start of negotiations in Istanbul is seen as an important step towards a possible peaceful settlement.
Medlog, a subsidiary of the world’s leading container shipping company Mediterranean Shipping Company (MSC Group), has acquired 50% of intermodal logistics operator N’UNIT and a 25% stake in the Mostyska cross-border terminal from TIS co-owner Yegor Grebennikov, Forbes reported.
“Medlog has acquired half of my stake in the Mostyska cross-border terminal and half of N’UNIT, which was wholly owned by me,” Grebennikov said in an interview with the publication.
His stake in N’UNIT has decreased to 50%, and in the Mostyska terminal to 25%. The remaining 50% of the terminal remains owned by Lemtrans.
“Medlog was looking for a ready-made network of dry logistics railways, which will gradually replace road transport — this is a trend. In addition, it provides more flexibility at a time when ports are not functioning. Building such a network now would cost as much as buying it, but it would take three to four years,” Grebennikov said.
According to him, Medlog has a strategy for the next decade and understands that those who take risks and enter the country at a difficult time will be better prepared for the period of economic growth.
“And, of course, during a period of growth, the price would be completely different,” said the co-owner of N’UNIT and the Mostyska terminal.
He also said that prior to the deal, he was the sole owner of N’UNIT, as his partners Andriy Stavnitzer and Oleg Kutateladze decided to focus on their personal projects in other industries.
Following the deal with MSC Group’s subsidiary, the company plans to build several more regional terminals.
“I have a clear investment plan. We have already carried out preparatory work for the construction of new terminals, there will be more specialized lightweight vehicles for last mile delivery, more buffer warehouses. We hope to take our cooperation with Ukrzaliznytsia to a new level,” said Grebennikov.
Medlog, founded in 1988 as a subsidiary of MSC Group, specializes in intermodal transportation (rail, road, sea, and river freight), warehousing, and customs clearance. The company is represented in more than 80 countries and has over 10,000 employees.
The International Register of Losses Caused by the Aggression of the Russian Federation against Ukraine has begun accepting applications for another category – damage or destruction of non-residential property, according to the website of the President of Ukraine.
“Each application submitted is not just a bureaucratic formality, but a contribution to restoring justice and a clear signal that no loss caused by Russian aggression will go unanswered,” said Iryna Mudra, deputy head of the Office of the President.
As noted, victims can file a claim for compensation for non-residential real estate destroyed or damaged after February 24, 2022. In particular, this refers to office premises, shops, warehouses, and production facilities. The relevant application can be submitted via the web portal or the Diya app.
In particular, the owner of the premises will be reimbursed for the full cost in case of destruction and the costs of repair or restoration in case of damage. At the moment, 10 categories have already been opened. In total, the Register will consist of 43 categories for compensation for material and moral damage.
“In addition to damage or destruction of non-residential real estate, this includes damage or destruction of housing, death of a close family member, forced displacement of citizens within the country due to Russian aggression, causing serious bodily injury as a result of the aggressor’s actions, cases of sexual violence committed by the occupiers, torture, cruel or degrading treatment, illegal detention, forced labor or service,” the ministry said.
The International Register of Losses is the first step towards an international compensation mechanism. The next step will be the creation of a Commission for the Examination of Applications, which will determine the specific amounts of compensation to be paid to victims. After that, a Compensation Fund will be set up to make the payments.
“A total of about 30,000 applications have already been submitted to the Register of Losses,” the head of state’s website said.
APPLICATION, COMPENSATION, destroyed non-residential property
