Business news from Ukraine

Business news from Ukraine

UKRAINE INTERNATIONAL AIRLINES OPERATES 45 SPECIAL CARGO FLIGHTS AFTER CLOSING REGULAR ONES

Ukraine International Airlines (UIA) has operated 45 special cargo flights after closing regular flights by the end of May. The company’s press service said on Wednesday that some 870 tonnes of medical supplies were carried by these flights.
“Flights were operated on medium and long haul aircraft. In a loose layout, subject to partial dismantling of passenger seats, about 110 cubic meters of cargo can be carried together on board of Boeing 737 aircraft, and about 190 cubic meters of cargo can be carried on board of Boeing 767,” the airline said.

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DARNITSA SUSPENDS PRODUCTION OF HYDROXYCHLOROQUINE TO TREAT CORONAVIRUS

Darnitsa pharmaceutical company has suspended a project for the production of hydroxychloroquine for the treatment of COVID-19.
Аccording to the press service of the company, the company came to such a decision by tracking reputable medical studies regarding the effectiveness of hydroxychloroquine in the treatment of COVID-19. In particular, as of May 26, some 201 studies of the use of hydroxychloroquine for the treatment of COVID-19 were recorded, of which five were completed.
The company notes that the published clinical trial materials have not confirmed the benefits of using the experimental drug ‘hydroxychloroquine’ for patients with COVID-19.
“The safety of patients and scientific feasibility is an absolute priority for the company. Therefore, taking into account the world scientific thought, the company suspended the project for the production of hydroxychloroquine for the treatment of COVID-19,” Darnitsa said.
The company reminds that Darnitsa had launched the project to prepare for the production of hydroxychloroquine in March 2020, when Chinese treatment protocols and publications in authoritative sources about the effectiveness of this drug for the treatment of COVID-19 appeared. These data gave reason to include hydroxychloroquine in the protocols of experimental treatment of COVID-19 in many countries of the world, in particular in Ukraine, the United States and in European countries.
“At the same time, Darnitsa received numerous requests from Ukrainian doctors and patients asking for the opportunity to use the drug for treating coronavirus infection, since this therapy was considered by the medical community as potentially effective. Considering the scientific data and the medical community’s requests, Darnitsa started a project for the production of hydroxychloroquine preparations exclusively for the needs of medical institutions in the treatment of COVID-19,” the company’s press service said.
Darnitsa pharmaceutical company was founded in 1930. It is one of the ten largest pharmaceutical manufacturers in Ukraine and the top ten largest hospital suppliers. The strategic directions of the portfolio development are cardiology, neurology and solutions to pain problems.

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RESTRICTIONS ON NUCLEAR ENERGY GENERATION FALL FROM 9.49 GW TO 6.63 GW

Acting President of National Nuclear Generating Company Energoatom Petro Kotin announced an unprecedented restriction of nuclear energy generation on May 27.
“Today, the restrictions imposed on us by the government in electricity generation have fallen to historic lows, namely, to 6.63 GW from 9.49 GW available,” he wrote on Facebook on Wednesday through the Energy Reform Internet portal.
Kotin is confident that this “is unlikely to contribute to solving the financial issues of the company and the stability of the country’s power market.”
According to the data on the company’s website, on May 27, some 10 out of 15 power units of Ukrainian nuclear plants were in operation.

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UKRAINIAN GOVERNMENT APPROVES MEMO WITH U.S. COMPANY ON POSSIBLE LNG SHIPMENTS

The Cabinet of Ministers at a meeting on May 27 approved a memorandum with Louisiana Natural Gas Exports on possible LNG supplies from the United States to Ukraine and the development of gas infrastructure with Poland. “The Ministry of Energy and Environment Protection has worked out a draft memorandum of cooperation between Louisiana Natural Gas Exports and the Cabinet of Ministers of Ukraine on facilitating gas supplies to Ukraine and improving gas infrastructure, which provides for exploring the possibility of diversifying natural gas supply routes by ensuring long-term supplies of liquefied natural gas and developing cross-border gas infrastructure in Ukraine and the EU,” Olha Buslavets, the acting Minister of Energy and Environment Protection, said.
According to data released by MP Oleksiy Honcharenko (the European Solidarity faction) on Telegram, the document provides for an annual LNG supply of about 5.5 billion cubic meters, and its price will be determined in accordance with the prices on the American gas exchange Henry Hub.
The memorandum, in particular, provides for the construction of a new gas pipeline between the gas hub Hermanowice (Poland) and the Bilche-Volytsko UGS facility. Project funding may include support of certain U.S. and European government agencies.
Final agreements may include a long-term agreement for the supply of LNG from the United States to Ukraine, an agreement on gas storage in Ukrainian underground gas storage facilities, an agreement on the construction and operation of necessary infrastructure between Poland and Ukraine.

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DYNAMICS OF BALANCE OF PAYMENTS OF UKRAINE (USD MLN)

Dynamics of balance of payments of Ukraine (Usd Mln)

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UKRAINE INCLUDES PANAMA IN OFFSHORE ZONE LIST

The Cabinet of Ministers has included Panama in the list of offshore zones.
The government made the relevant decision at a meeting on Wednesday.
According to an explanatory note, Panama earlier was put on the list of the EU offshore zones.

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