Business news from Ukraine

Business news from Ukraine

AUSTRIAN EMBASSY STAFF RETURNED TO KYIV

Employees of the Austrian embassy in Ukraine returned to Kyiv last week, the Austrian Ministry of Foreign Affairs reported.

“We are united with the people of Ukraine, who have become victims of unprecedented military aggression by Russia. As an important sign of our unwavering solidarity with Ukraine, our embassy staff returned to Kyiv last week. Thank you to our staff for your efforts and dedication!” the Foreign Ministry tweeted on Wednesday.

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UKRAINE WANTS TO EXPAND EXPORT VIA ROMANIA

Prime Minister Denys Shmyhal has discussed with Romanian Prime Minister Nicolae Ciucă the possibility of expanding export and transit corridors through Romania, as well as using additional facilities of Romanian seaports.
“We discussed the possibility of expanding the already established export corridors, transit corridors through the territory of Romania, as well as using the additional capabilities of Romanian seaports and checkpoints between our countries,” Shmyhal said at a joint briefing with Ciucă on Tuesday evening.
The parties also discussed the process of restoring the settlements of Ukraine affected by the war, and also discussed the participation of Romania in such projects.
In addition, the prime ministers discussed cooperation between countries in the energy sector, economy, business and transit potential.
Among other things, he thanked Romania for launching and operating hubs on its territory for international technical and humanitarian support to Ukraine, as well as for helping displaced Ukrainian citizens.
In addition, Shmyhal said that the countries are working on a draft memorandum of cooperation to ensure the social protection of children who have suffered in war and armed conflicts.
Later, the press service of the government reported that at a meeting of the parties Shmyhal proposed to consider the possibility of opening the Diakivtsi (Ukraine) – Racovăț (Romania) checkpoint as soon as possible and further granting it the status of a checkpoint for cargo transportation to increase transit opportunities between Ukraine and Romania.
In addition, he noted the role of Romania in the international processes of condemnation and punishment of Russia for crimes against humanity and acts of genocide that continue on the territory of Ukraine.
In turn, the Prime Minister of Romania assured that they will continue to support Ukraine in its fight and will support the tightening of sanctions against the aggressor.

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UKRAINIAN DEPUTIES PROPOSE TO PARLIAMENT TO ABANDON DUTY-FREE IMPORT OF CARS

A group of people’s deputies propose to the Parliament to refuse exemption from import duties, excise tax and VAT on car imports, bill No. 7311, the text of which is posted on the website of the Verkhovna Rada, testifies. the budget received less than 350 million hryvnia, and now the daily amount of benefits is 100 million hryvnia.
At the same time, not isolated cases of the importation of premium cars were recorded, the authors of the bill note, among them is the head of the Verkhovna Rada Committee on Finance, Tax and Customs Policy Daniil Getmantsev.
The bill also proposes to return taxation for goods imported by single tax payers of the first or third group.
The authors of the bill point out that during the week of such relaxations, the budget received less than UAH 417 million.
As reported, on March 24, 2022, the Verkhovna Rada of Ukraine, in order to stimulate important imports for the country, among a number of goods for the period of martial law, exempted the import of vehicles by citizens from taxation (cars, motorcycles, trucks and buses).
According to the State Customs Service, over the month, Ukrainians have issued more than 19,000 cars on preferential terms, which created problems and delays for the import of humanitarian aid.

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SLOVAKIA WILL CONTINUE TO PAY FOR RUSSIAN GAS IN EUROS

Slovakia will continue to pay for Russian gas in euros in accordance with the agreed rules, Slovak Prime Minister Edward Heger said.
“The company Slovensky plynarensky priemysel (Slovak gas industry) has signed a long-term contract with the Russian Gazprom and payments for the purchased gas will be made in euros in accordance with the agreed rules and recommendations of the European Commission,” Heger wrote on the social network.
Slovensky plynarensky priemysel is the largest oil refinery in the country.
The Prime Minister also announced on Twitter (SPB: TWTR) that Slovakia, together with the EU, will accelerate the move away from gas dependence on Russia.

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TARIFFS FOR RAILWAY TRANSPORTATION OF GRAIN IN UKRAINE INCREASE BY 15% IN FIRST QUARTER

Tariffs for the transportation of grain cargo by rail in Ukraine in January-March 2022 increased by 15% compared to the first quarter of 2021, and by 6.5% compared to the fourth quarter of 2021, according to the website of the State Service Ukrainian statistics.
In its report, the agency does not provide data on the growth of the tariff rate in monetary terms.
In the first quarter of 2022, the tariffs for the transportation of chemical and mineral fertilizers increased more significantly – by 41.7% compared to January-March 2021, while the tariff for the transportation of timber increased in price similarly to grain cargoes – by 15%.
In general, tariffs for freight transportation by rail in Ukraine increased by 25.4% in the first three months of 2022.

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CANADA PLANS TO TRANSFER SEIZED RUSSIAN ASSETS TO REBUILD UKRAINE

Canadian Foreign Affairs Minister Mélanie Joly has said the federal government of Canada will change its sanctions law to allow seized and sanctioned foreign assets to be redistributed as compensation to victims or to help in rebuilding a foreign state from war, the Canadian Broadcasting Corporation (CBC) has reported.
“Today, we are seeking the capacity to not only seize but to allow for the forfeiture of the assets of sanctioned individuals and entities and to allow us to compensate victims with the proceeds… These changes would make Canada’s sanctions regime the first in the G7 to allow these actions,” Joly said in a statement on Tuesday.
The CBC said that Canada is among a number of countries to have imposed sanctions on Russia after it invaded Ukraine on February 24. The changes that Canada aims to bring to its sanctions law will mean that funds or property seized from Russia could be paid out to help rebuild Ukraine or go to those affected by Russia’s invasion.
The text of the bill says the seized assets can be used for “the reconstruction of the foreign state adversely affected by a grave breach of international peace and security.” The funds could also be used for “the restoration of international peace and security” and to compensate victims when that security is breached.
A similar bill that would allow Canada to seize and confiscate Russian assets for the purpose of supporting victims of Russian attacks was already tabled by Sen. Ratna Omidvar and is poised to be approved by the upper chamber.
According to the CBC, the Ukrainian Embassy to Canada has urged lawmakers to quickly enact Omidvar’s bill. “We believe it is absolutely fair that Russian state property or ill-gotten assets of Russian oligarchs must become a part of reparations by the aggressor state to the victim of the aggression… By passing the Bill S-217 Canada will demonstrate leadership and could set an example for others to follow and show that the Russian kleptocratic corrupt regime will pay the full cost of its crimes against Ukraine,” the embassy said in a statement.

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