Business news from Ukraine

Business news from Ukraine

Serbia has approved VAT and excise duty exemptions for EXPO 2027 participants

According to Serbian Economist, Serbia has introduced a special procedure that determines which EXPO 2027 Belgrade participants will be eligible for VAT (PDV) and excise duty exemptions, as well as the conditions and procedure for obtaining such benefits.

According to the explanations, the right to benefits is granted, in particular, to the offices of section commissioners of countries and international organizations participating in the exhibition for the purchase of goods and services related to the construction, installation, operation, and dismantling of national pavilions, as well as for administrative needs. A separate category is authorized personnel of national sections, and in some cases their family members, on a principle comparable to the privileges enjoyed by diplomatic personnel.

The privileges apply to operations directly related to EXPO, including the temporary importation of exhibition equipment and materials, as well as certain supplies within the exhibition infrastructure, such as power supply and operating resources. For official personnel, there are conditions under which VAT exemptions may also apply to personal goods, including furniture and one car per person, and excise duty exemptions may apply to fuel and lubricants for transport serving the commissioners’ offices, within established limits.

Exemptions are not automatic – participants must obtain confirmation from the EXPO organizer. This document, known as the EXPO 2027 certificate, is issued upon request and must be presented before the goods are imported or before the goods and services are delivered within the country; the certificate is issued in triplicate, and without it, the exemption does not apply.

At the end of January 2026, the Expo 2027 organizing committee reported that more than 130 countries had already officially confirmed their participation in the exhibition. Among the largest economies listed as confirmed participants are China, the United States, India, Germany, and many others. Ukraine has not yet confirmed its participation in EXPO-2027 in Belgrade.

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Fuel prices in Ukraine rose again by 2–3 UAH per day

Fuel prices in Ukraine on March 4, after yesterday’s increase amid the war in Iran, rose by another 2–3 UAH per liter per day, according to monitoring of offers from individual chains conducted by the Internet portal Energorforma.

According to the monitoring, A-95 and DP are showing the following growth rates: their prices range from 67.99 UAH/liter to 70.99 UAH/liter. Premium gasoline brands cost from 70.99 UAH/liter to 74.99 UAH/liter, and diesel fuel costs from 71.99 UAH/liter to 75.99 UAH/liter.

As reported, fuel prices also jumped by 2-3 UAH/liter between March 2 and March 3.

For his part, the head of the parliamentary committee on finance, tax, and customs policy, Danylo Getmantsev, noted on his Telegram channel on Wednesday that the jump in fuel prices does not really depend on events in the Middle East, calling on gas station chains not to profit from consumer panic.

“I want to address the representatives of the fuel market… In a country where there is a war going on and half the country is running on generators, a powerful business like yours also has a certain social function that does not allow you to use panic to make super profits. Everyone understands that the jump in prices for the fuel you sell currently has a very limited causal link to the war in Iran, at least given the time lag,“ Getmantsev wrote.

”Come to your senses. Don’t force us to turn to the Antimonopoly Committee,” he added.

Fuel prices (average) as of the morning of March 4 compared to the morning of March 3 (based on the results of Energorforma’s monitoring of websites and network applications*).

It should be noted that not all networks publish prices on their websites and in their applications.

As reported, late in the evening on March 2, Sergey Kuyun, director of the consulting company A-95, predicted that fuel prices in Ukrainian networks could rise by 2-3 UAH per liter during the week amid the war in Iran, but there is no fuel shortage on the market, and none is expected in March.

Dmytro Petrenko, director of development at the UPG group of companies, also noted the absence of a shortage in a comment to Energorforma on Wednesday. According to him, the Ukrainian fuel market is capable of adapting to the most difficult conditions, which will allow it to avoid a shortage of resources amid the war in Iran, and it is too early to make predictions about prices.

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Kyiv will grow over 4 mln flowers for urban greening in 2026

In 2026, Kyiv’s municipal enterprises plan to grow over 4 million annual, biennial, and perennial plants in their greenhouses and hothouses to decorate the city’s parks, squares, and streets, according to Valentin Mondriyevsky, deputy head of the Kyiv City State Administration.

“Even in the difficult conditions of war, Kyiv consistently adheres to its green city development strategy. Its own greenhouse facilities allow the city not only to provide stable landscaping, but also to maintain jobs and professional teams at municipal enterprises. This is an example of a systematic approach to urban environment management and a responsible attitude to the quality of the space in which Kyiv residents live,” Mondriyevsky said.

He said that the total area of greenhouses used by municipal enterprises for the maintenance of green spaces in the city’s districts is over 17,000 square meters. It is here that the painstaking work of growing flowers takes place every day—from sowing seeds to pricking out and preparing plants for planting in open ground.

Municipal enterprises independently grow a wide range of ornamental plants. These include tagetes, salvia, begonia, petunia, ageratum, gazania, verbena, antirhinum, coleus, and others. It is these plants that form the floral diversity of the capital throughout the season.

“Greenhouses and hothouses are a full-fledged production base for the city. Specialists work here who accompany the entire plant cultivation cycle—from seed to planting in urban spaces. This approach allows the city to plan greening systematically and ensure the quality of plants for parks and squares in Kyiv,” said Pavlo Ivanov, Director of the Department of Environmental Protection and Climate Change Adaptation.

Municipal greenhouse farms also perform an educational function. In 2025, educational excursions and training events for students and schoolchildren were held on their territory.

The Department emphasizes that the development of its own greenhouses is an important part of the capital’s environmental policy and an investment in a comfortable and green environment in Kyiv.

In 2025, more than 4.5 million flowers were grown in the greenhouses of the capital’s municipal enterprises, which made it possible to significantly renew and diversify the city’s green areas without additional costs for purchasing plants.

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Net income of Fregat plant fell to UAH 47.6 mln in 2025

The manufacturer of agricultural machinery and special-purpose vehicles, JSC “Fregat Plant” (Pervomaisk, Mykolaiv region), increased its losses by 34.4% in 2025 compared to 2024, to UAH 81.2 million.

According to the company’s financial report, published in the information disclosure system of the National Securities and Stock Market Commission (NSSMC), the company’s net sales revenue fell almost fourfold to UAH 47.57 million.

In 2025, the company received UAH 14.8 million in gross profit (UAH 71.1 million in 2024), and the loss from operating activities amounted to UAH 43.2 million, compared to a profit of UAH 12.6 million a year ago.

“During the reporting period, the company focused its efforts on maintaining its customer base, supporting long-term partnerships with counterparties, and ensuring the economical and rational use of funds,” the report says.

According to the plant, the main activity of the enterprise is currently the production of machinery and equipment for agricultural and forestry engineering. In particular, in the fourth quarter, the production of agricultural machinery for crop production accounted for 54.6% of the total output, equipment for the processing industries of the agro-industrial complex – 0.3%, and other types of products accounted for 45.1%.

The average number of employees at the plant last year was 121, at the Eastern branch – 84, and at the Dnipro branch – 6 (both branches are located in Mykolaiv). The average salary of an employee was UAH 10,190.

As reported, in 2024, the plant increased its losses by 58% compared to 2023, to UAH 60.4 million, while its net income increased by 34.6%, to UAH 188.6 million.

According to the National Securities and Stock Market Commission (NSSMC) for the fourth quarter of 2025, Fregat Engineering Limited (Cyprus) owns more than 96.25% of the authorized capital of JSC “Fregat Plant,” and the ultimate beneficiary, according to YouControl, is Olga Dementienko from Dnipro.

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Electricity imports to Ukraine rose by 41% in February, reaching record 1.26 mln MWh

Electricity imports to Ukraine in February 2026 increased by 41% compared to January and reached 1,262.8 thousand MWh, which is a new monthly import record since the launch of the new electricity market, according to the DIXI Group analytical center, citing data from Energy Map.

“For comparison: in February 2025, imports amounted to 244.2 thousand MWh, which is five times less than in the reporting month,” the center said.

At the same time, there have been no electricity exports for three months in a row.

As noted by DIXI Group, Ukraine’s energy system remained under significant pressure last month. Frosty weather kept electricity consumption high, while Russian attacks caused significant damage to power generation facilities, high-voltage substations, and electricity transmission and distribution networks, creating a situation of chronic power shortages in the energy system, which at times reached 5-6 GW.

Six massive attacks were recorded during the month (more than 60 in total since the start of the full-scale war). After the attacks on February 7 and 26, in particular, Ukrainian nuclear power plants were forced to partially reduce their output, which complicated the balancing of the system and increased the need for imports.

According to DIXI Group, Hungary accounted for the largest share of imports in February – 49%, or 618.0 thousand MWh. Romania accounted for 19% of the resources provided to the country (240.6 thousand MWh), Slovakia – 18% (227.1 thousand MWh), Poland – 13% (159.4 thousand MWh), and Moldova – 1% (17.7 thousand MWh).

Electricity purchases increased in all supply directions – by 18-54% depending on the country.

As the center reminded, since January this year, the capacity limit for imports from EU countries to Ukraine and Moldova has been 2.45 GW, which is a record level for the entire period of Ukraine’s synchronization with the continental European network ENTSO-E (the previous maximum for the Ukraine-Moldova block was 2.15 GW). Taking into account that part of the imported capacity is directed to Moldova, Ukraine has access to about 2.1 GW of commercial imports.

On average, during February, the use of available capacity was 89.5% of the accepted nominal value of 2.1 GW.

“Thus, in February 2026, Ukraine remained a net importer of electricity for the fifth month in a row, and import volumes reached a historic high amid escalating Russian shelling and seasonal growth in consumption,” DIXI Group concluded.

As reported, the key factor contributing to the increase in electricity imports to Ukraine and, at the same time, the price jump on the day-ahead market (DAM) was the increase by the National Commission for State Regulation in Energy and Utilities upper price limits (price caps) on short-term market segments starting January 18, 2026.

At an extraordinary meeting on January 16, the National Energy Regulator set the maximum price limit for electricity on the day-ahead market (DAM) and intraday market (IDM) at UAH 15,000/MWh throughout the day for the period from January 18 to March 31, 2026.

According to ENTSOE data, in February 2026, Ukraine ranked first in terms of the average daily BASE price index on the DAM 21 times (February 1, 4-10, 13-14, 17-18, 20-28) compared to 26 European countries.

At the end of 2025, Ukraine ranked second among 27 European countries in terms of the BASE index on the DAM, which amounted to 5,292.62 UAH/MWh, calculated according to Central European Time (CET).

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Kyiv Lactic Acid Plant convenes annual shareholders’ meeting

According to Fixygen, PJSC “Lactic Acid Plant” (Kyiv) will hold its annual general meeting of shareholders remotely on April 3, 2026, at which it plans to approve the results of its financial and economic activities for 2025 and the procedure for covering losses, the company reported in the NSSMC’s information disclosure system.

“To approve the results of financial and economic activities for 2025 and to approve the procedure for covering the company’s losses. Namely, given the company’s lack of profit, to cover losses at the expense of future periods,” the draft resolution of the meeting states.

The agenda also includes consideration of the reports of the supervisory board and the executive body for the past year, the adoption of new versions of the regulations on management bodies, as well as the preliminary approval of significant transactions, the value of which may exceed 25% and 50% of the value of the company’s assets.

PJSC “Lactic Acid Plant” (Kyiv) was founded in October 1996. The company specializes in the production of spices and seasonings, as well as other food products, ready-made animal feed, and agrochemical products.

According to Opendatabot, in 2024, the company increased its net loss by 11.8% compared to 2023, to UAH 2.145 million. At the same time, its revenue grew by 5.22%, to UAH 4.493 million. The plant’s assets decreased by 10.2% over the year to UAH 22.091 million, while its liabilities decreased by 0.5% to UAH 33.227 million. According to the resource’s forecast, the company’s expected revenue for 2025 is projected at UAH 5.122 million. The authorized capital of the private joint-stock company is UAH 220,353 thousand.

The beneficiaries of the enterprise are Grigory and Leonid Kostyuk, each of whom owns 45.8615% of the enterprise’s shares.

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