Business news from Ukraine

“Metinvest” sold more than half of its products in EU

Metinvest Mining and Metallurgical Group sold 55% of its steel and mining products in the European Union (EU) in January-June 2023.

According to the company’s presentation at the 15th J.P. Morgan Global Emerging Markets Corporate Conference, during this period, Metinvest sold 35% of its steel products in Ukraine, 2% in MENA, 1% in the CIS and 7% in other regions for a total of $2.423 billion.

In addition, the Group sold 28% of its iron ore products in Ukraine, 10% in Asia, and 7% in other regions for a total of $1.131 billion.

At the same time, in 1H2022, Metinvest sold 48% of its steel products in the EU (50% in 2H2022), 28% (35%) in Ukraine, 13% (4%) in MENA, 6% (1%) in the CIS and 5% (10%) in other regions for a total of $3.603 billion ($2.113 billion).

In addition, the company’s share of sales of iron ore products in the first half of 2022 in the EU amounted to 45% (60% in the second half of 2022), in Ukraine – 20% (27%), in Asia – 19% (2%), in other regions – 15% (11%) for a total of $1.669 billion ($903 million).

The presentation states that sales of steel products in 1H2023 decreased by 33% year-on-year, mainly due to a 54% and 56% decrease in pig iron and flat products production at Ukrainian steelmakers amid a lack of slab sales and a decline in average selling prices. This was partially offset by increased supplies of billets (up 3%) and long products (up 14%), as well as coke (up 10%), with higher resale volumes.

The positive six-month trend in 1H2023 compared to 2H2022 (up 15%) was driven by higher sales volumes of all products, including finished products (up 22%), semi-finished products (up 7%) and coke (up 18%).

At the same time, logistical challenges continued to shape the geography of sales.

Sales of iron ore products in 1H2023 decreased by 32% compared to 1H2022, mainly due to a 44% drop in iron ore prices and reduced supplies due to the blockade of Ukrainian Black Sea ports, as well as lower intragroup consumption and a drop in local demand. The results were also affected by the negative dynamics of prices for iron ore with an iron content of 62%. This was partially offset by an increase in sales of pellets and coking coal concentrate by 43% and 42%, respectively. This resulted in significant changes in regional revenue shares.

At the same time, compared to the second half of 2022, there was a positive trend (up 25%), primarily due to an increase in sales of all products, namely pellets (up 2.1 times), iron ore concentrate (up 56%) and coking coal concentrate (up 13%).

“Metinvest comprises mining and metallurgical enterprises located in Ukraine, Europe and the USA. Its major shareholders are SCM Group (71.24%) and Smart Holding (23.76%), which jointly manage it.

Metinvest Holding LLC is the management company of Metinvest Group.

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France to hand over 100 drones to Ukraine’s Armed Forces

France will hand over 100 drones ordered from drone manufacturer Delair to the Ukrainian Armed Forces this summer, Defense Minister Sebastian Le Coronneu said.

“As part of an innovative program, France has ordered 100 unmanned aerial vehicles from Delair, which will arrive in Ukraine this summer. A total of 2,000 remotely piloted vehicles will be purchased from our defense industry. For the needs of our army and Ukraine,” the minister wrote on social network X on Thursday, February 29.

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Quotes of interbank currency market of Ukraine (UAH for $1, in 01.11.2023-30.11.2023)

Quotes of interbank currency market of Ukraine (UAH for $1, in 01.11.2023-30.11.2023)

Source: Open4Business.com.ua and experts.news

Lithuanian Economy Minister: Blockade of Lithuanian border by Poles violates EU principle of freedom of movement

The blockade of a road on the Lithuanian-Polish border by farmers on March 1 may violate the European Union principle of free movement of goods and people, Lithuanian Economy and Innovation Minister Aušrine Armonaitė said, LRT writes.

“As far as I understand, the flow of people will not be stopped, but we are still members of the free European Union, where the movement of goods and people should be free. Any impediment to that movement has the potential to disrupt freedom of movement,” the minister said.

She noted that trucks at the border would be directed to additional parking lots for inspection, which could lead to queues.

A nationwide strike of farmers started in Poland on February 9. The main demands of the strikers are to adjust the “green” course of the European Commission, to limit the inflow of Ukrainian agricultural products to the Polish market, as well as to increase the profitability of agricultural production. During the protests, farmers block Ukrainian-Polish border crossings.

Since March 1, Polish farmers have been preparing for two new blockades – at the former Polish-German border crossing in Svec and on the road near the former Lithuanian-Polish border crossing “Kalwaria-Budzisko”. Farmers will check the contents of trucks, especially agricultural goods.

According to Ausris Macijauskas, chairman of the Lithuanian Grain Producers Association, Polish farmers’ suspicions that Ukrainian grain brought from Poland to Lithuania is being returned or processed and re-exported as Lithuanian goods are justified.

Via Baltica is a 970-kilometer section of European route E67 between Tallinn and Warsaw. It provides road links between the Baltic countries. E67 connects Helsinki (Finland) and Prague (Czech Republic).

The Suvalki Gap is a strip of land about 100 kilometers long on the Lithuanian-Polish border, which is wedged between the Russian exclave of Kaliningrad in the west and Belarus in the east.

Maciauskas said earlier that Lithuanian farmers for their part would not contribute to the Polish protest. According to him, the biggest problem of Lithuanian farmers is Russian grain.

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Ukrainian and German hospitals agree on cooperation

Ten Ukrainian and two leading German hospitals have agreed on a medical partnership.

As the Ministry of Health of Ukraine reported on its website, during the international conference on medical partnerships, which took place on February 26-27 in Berlin, a memorandum of cooperation with Charité Clinic was signed by the Regional Clinical Center of Neurosurgery and Neurology in Uzhgorod, Lviv National Medical University named after Danil Halytskyi, Ternopil Regional Clinical Psychoneurological Hospital, Bogomolets National Medical University, Institute of Neurology, Psychiatry and Addiction Medicine of the National Academy of Medical Sciences of Ukraine.

Memoranda of cooperation with the German network of hospitals BG Kliniken, specializing in the treatment and rehabilitation of victims of severe trauma, signed clinical hospital “Feofania”, Ivano-Frankivsk Regional Clinical Hospital, NDSB “Okhmatdet”, City Clinical Hospital № 4 Dnipro, Institute of Spine and Joint Pathology named after Sitenko NAMNU.

The development of the International Medical Partnership is an initiative of the First Lady of Ukraine Olena Zelenska. It was launched during the third summit of First Ladies and Gentlemen in Kyiv on September 6, 2023.

Currently, the International Medical Partnership Program with Ukraine is supported by 18 countries. Within the framework of the program 34 memorandums of cooperation have been signed. Medical Partnership in Germany was made possible thanks to the assistance of the German Society for International Cooperation (GIZ) through their funded Hospital Partnership Program.

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Kyivstar wins nomination “Best Mobile Innovation in Support of Emergency or Humanitarian Situations” at annual Global Mobile Awards

Barcelona, February 29, 2024: VEON Ltd. (NASDAQ: VEON, Euronext Amsterdam: VEON), a global digital operator providing mobile and fixed-line services, today announced that Kyivstar, its subsidiary in Ukraine, has won the GSMA’s Global Mobile Award at the annual Global Mobile Awards (GLOMO) in the category of Best Mobile Innovation in Support of Emergencies or Humanitarian Situations for its network resilience project.
The award was presented to Kyivstar CTO Volodymyr Lutchenko at a ceremony organized as part of the Mobile World Congress (MWC24) in Barcelona. The GLOMO award recognizes Kyivstar’s hard work and exemplary performance in providing connectivity in Ukraine, its meaningful investments in its network and digital services during the war, and its overcoming of severe challenges to support Ukraine’s resilience.


In his speech, Mr. Lutchenko recognized the work of the Ukrainian telecommunications industry, noting that “This is an award not only for Kyivstar, but for all Ukrainian telecommunications operators.
VEON would like to thank all the nominees of this year’s GLOMO award, as well as the mobile industry in general, for their work aimed at solving humanitarian problems and helping communities overcome emergencies. “I am honored to receive the GLOMO award for the extraordinary work of the Kyivstar team in providing vital communications for Ukraine. Our communication and digital services are extremely important for communities, in humanitarian crises and emergencies. We are honored to be part of an industry that is committed to meeting this challenge,” added Kaan Terzioglu, CEO of VEON Group.


Kyivstar is the largest telecommunications operator in Ukraine, providing services to 24 million mobile subscribers and more than 1.1 million home Internet subscribers. As a leading operator in the Ukrainian telecom market, the company maintains over 90% network availability in the government-controlled areas of Ukraine, providing communications not only to its customers but also to the population of Ukraine as a whole.
VEON International Group owns 100% of Kyivstar. VEON and Kyivstar have committed to investing $600 million over the next three years to rebuild and restore Ukraine.

About VEON
VEON is a digital operator that provides mobile, fixed-line and digital services to nearly 160 million customers. Operating in six countries with more than 7% of the world’s population, VEON changes lives by providing technology services that empower people and drive economic growth. Headquartered in Amsterdam, VEON is listed on the NASDAQ and Euronext stock exchanges.
For more information, please follow the link: https://www.veon.com.

About Kyivstar:
Kyivstar is Ukraine’s largest electronic communications operator, serving 24 million mobile subscribers and more than 1.1 million Home Internet subscribers as of September 2023. The company provides services using a wide range of mobile and fixed technologies, including 4G, Big Data, Cloud solutions, cybersecurity services, digital TV, etc. Kyivstar helps subscribers, society and the country to overcome the challenges of wartime. Since the beginning of the full-scale war, the company has allocated UAH 1.8 billion to support the Armed Forces, society and subscribers. Kyivstar’s sole shareholder is the international VEON Group. The Group’s shares are listed on NASDAQ (New York) and Euronext (Amsterdam). Kyivstar has been operating in Ukraine for 25 years and is recognized as the largest taxpayer in the telecom market, the best employer and a socially responsible company. For more information: pr@kyivstar.net, www.kyivstar.ua

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