Business news from Ukraine

Business news from Ukraine

Ukrzaliznytsia expects to receive its first Alstom electric locomotive in first quarter of 2027

Ukrzaliznytsia plans to receive its first Alstom UA8AC electric locomotive in the first quarter of 2027, and by the end of 2029, the company expects to receive a total of 55 such locomotives, said Volodymyr Shemaiev, director of the international projects office at Ukrzaliznytsia.

“This will be a modest overhaul of the freight electric locomotive fleet, which will serve as a foundation for the fleet in the coming years,” Shemaev noted during the 8th International Conference “Railways of Ukraine: Development and Investment” in Kyiv.

Oleksiy Balesta, Deputy Minister of Community and Territorial Development, reported at the conference that since the start of Russia’s full-scale invasion, more than 300 locomotives have been damaged, with about 50 destroyed beyond repair.

According to Ukrzaliznytsia, 9 diesel locomotives were damaged in the first half of 2025, 119 in the second half, and 81 in the first quarter of 2026.

As previously reported, Ukrzaliznytsia signed a EUR473 million contract with Alstom Transport following an international tender organized by the World Bank. The European Bank for Reconstruction and Development subsequently joined the project.

Among other international projects that Ukrzaliznytsia plans to implement, he mentioned the cooperation agreement signed between the governments of Ukraine and Spain regarding the creation of a gauge-changing bogie capable of changing track gauge without stopping. According to him, the first stage involves developing design documentation for such a bogie.

“In about two years, such a bogie will be manufactured in Ukraine, after which testing will begin. If the results of these tests are positive, we can then discuss the commercial production of such bogies and, accordingly, railcars, both for the Ukrainian market and for European markets,” noted the director of Ukrzaliznytsia’s International Projects Office.

Shemaev also reported that a meeting was recently held with Korean partners, with whom Ukrzaliznytsia plans to prepare a feasibility study over the next three years for a high-speed railway from Kyiv to Lviv and onward to the Polish border.

Separately, the director of Ukrzaliznytsia’s International Projects Office told Interfax-Ukraine that Ukrzaliznytsia has joined a project to build decentralized gas-fired power generation facilities at the government’s request. Specifically, 40 MW of equipment has already been delivered, and preparatory work for its installation is currently underway.

In addition, a tender under the rules of the European Bank for Reconstruction and Development (EBRD) for an additional 160 MW has been completed; its results are in the process of being signed, and equipment delivery is expected within 8 months.

Shemaev noted that Ukrzaliznytsia is implementing this project in partnership with the EBRD and the European Commission; it is supported by a EUR41 million grant, with an additional 20 million pounds worth of equipment provided by the United Kingdom.

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Ukrenergo is holding tender for voluntary motor vehicle insurance

On April 24, PJSC “National Energy Company (NEC) ”Ukrenergo“” announced a tender for voluntary motor vehicle insurance (CASCO) services.

According to the Prozorro electronic public procurement system, the estimated cost of the services is UAH 6.991 million.

The deadline for submitting bids is May 4.

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Azerbaijan has provided Ukraine with five buses for community needs

During a government visit, Azerbaijan provided Ukraine with five passenger buses as humanitarian aid for community needs, Ukrainian Foreign Minister Andriy Sibiga announced.

“Since 2022, Azerbaijan has repeatedly contributed to supporting the Ukrainian people. In particular, it has provided humanitarian aid worth over $45 million, including powerful generators, transformers, and critical equipment that helps maintain the operation of our energy system amid constant attacks,” he wrote on the social media platform X.

The minister noted that the country is also providing support to Ukrainian children.

“More than 500 Ukrainian children have participated in rehabilitation programs in Azerbaijan—this is especially valuable in the context of war. We deeply appreciate this solidarity, as it helps Ukraine stay on its feet and move forward,” Sibiga noted.

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Greece Steps Up Fight Against Fraud in Golden Visa Program

Greek authorities are tightening controls on fraudulent schemes in the Golden Visa program following the issuance of a new circular, No. 1/2026, by the Ministry of Migration and Asylum. According to explanations regarding the circular and reports in industry publications, Greek authorities will now forward information about misleading advertising and fictitious investment deals to the AADE tax authority and the Greek anti-money laundering agency, and confirmed violations may result in sanctions up to and including the revocation of the investor’s residence permit.
The reason for tightening controls was schemes in which investors were formally shown a property that met the program’s minimum threshold, but part of the funds was then effectively returned through hidden discounts, prepaid lease agreements, compensation for furniture, or cash payments. Industry experts note that following the increase in program entry thresholds in September 2024, the market saw a rise in advertising offers for properties priced below the legally established minimum, which drew additional attention from the authorities.
The new circular is broader in scope than mere anti-fraud measures. According to explanations from lawyers and the industry press, the document also resolves discrepancies in the application of rules among regional offices, clarifies the application submission process, and establishes stricter oversight of whether properties and applicants meet program requirements. This is intended to simultaneously increase the predictability of administration and intensify pressure on questionable schemes.
This tightening comes amid continued high demand for the Greek Golden Visa. According to data cited in industry publications, the number of approvals reached 8,879 in 2025, nearly doubling from 4,535 the previous year. This makes the program one of the most sought-after in Europe, thereby increasing incentives for abuse in the real estate market.

 

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Argentina has once again called on UK to resume talks on Falkland Islands

The Argentine government has confirmed its readiness to resume bilateral talks with the UK regarding the sovereignty dispute over the Falkland Islands, which Buenos Aires refers to as the Malvinas. According to Reuters, Argentine Foreign Minister Pablo Kirno made this statement after a spokesperson for British Prime Minister Keira Starmer reiterated that sovereignty over the islands belongs to the United Kingdom.

According to Kirno, Argentina once again declares its readiness to return to negotiations to find a “peaceful and definitive solution” to the sovereignty dispute and put an end to what Buenos Aires calls a “special colonial situation.” The British side, in turn, reaffirmed its unchanged position and emphasized the right of the islands’ inhabitants to self-determination.

The current surge in discussion arose against the backdrop of reports about an internal Pentagon memo that allegedly considered the possibility of revising the U.S. position on the Falkland Islands as a means of pressuring London over disagreements regarding the war with Iran. Following this, the British government separately stated that its position on the islands had not changed.

The situation is significant not only in diplomatic discourse but also in a geoeconomic context. The Falkland Islands have a small population but retain strategic importance in the South Atlantic due to their fishing zone, control of maritime routes, hydrocarbon development potential, and the UK’s military presence. According to official data from the island government, fishing remains the largest sector of the economy and accounted for approximately 58% of the territory’s nominal GDP as of 2024.

The history of the conflict over the islands dates back to the 19th century. Argentina has considered them its territory since the early 1800s, but the United Kingdom established control over the archipelago in 1833 and has rejected Argentina’s claims ever since. The most acute episode was the armed conflict of 1982, when Argentina attempted to retake the islands by force, but after a brief war, British troops reestablished control over the archipelago.

Since then, the dispute has remained unresolved but has been played out primarily on the diplomatic front.
The United Kingdom relies on the principle of self-determination of the islands’ inhabitants, who in a 2013 referendum voted almost unanimously to retain the status of a British Overseas Territory. Argentina does not recognize this approach and continues to insist on negotiations regarding sovereignty.

Thus, Buenos Aires’s latest statement does not signal an immediate breakthrough in negotiations, but it does indicate that the Falklands issue may once again return to the international agenda amid broader turbulence in relations between Western allies.

 

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Ukraine and Azerbaijan have signed six agreements

Ukrainian President Volodymyr Zelenskyy announced the signing of six agreements with Azerbaijan during his visit to the country, singling out security as a key area.

“We signed six documents today. Our teams will certainly share the details later. These cover various areas. Today, the top priority is security—specifically, the defense-industrial complex,” Zelenskyy said during a joint statement with Azerbaijani President Ilham Aliyev in the city of Gabala on Saturday.

The Ukrainian president also announced agreements on joint production and the work of Ukrainian experts in Azerbaijan.

“We will certainly develop our cooperation and joint production. These are very important areas that will definitely enhance the security of our countries and our peoples, as well as trade, which we truly want to increase between our countries,” he said.

Zelenskyy announced a “very significant step” in the form of signing documents on the joint development of the countries’ defense-industrial complexes.

He also thanked Aliyev for 11 support packages in the energy sector and for assistance to children evacuated from border areas, and reported on agreements in the field of education, specifically regarding the training of Azerbaijani students in Ukraine.

Aliyev, in turn, noted that “quite serious cooperation” is currently underway between Ukraine and Azerbaijan and that it was “once again confirmed” during Zelenskyy’s visit.

“Regarding military-technical cooperation, we also discussed this issue. It has quite broad prospects in both Ukraine and Azerbaijan. We see the development of the defense industries, and we can look into joint production. But overall, we have excellent opportunities in manufacturing. And today we also had extensive talks on this,“ he said.

Also, according to the head of the Azerbaijani state, the presidents discussed the need to develop trade between the countries. ”It currently amounts to more than $500 million, and I think it will continue to grow. Because we have every opportunity,” he said.

In addition to political dialogues, the parties also discussed cooperation in the energy sector. “We have achieved certain milestones. SOCAR has been operating successfully in Ukraine for many years. And now there are very good prospects. We have joint projects, joint initiatives, and investments. All these issues were discussed in detail today,” Aliyev said.

 

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