On January 19, Ukrnafta JSC signed two agreements with Alliance Holding LLC for the sublease of gas stations (AZK) for a total amount of UAH 841.9 million, Nashe Groshi reported on February 4, citing information in the Prozorro system.
“Until September 30, 2028, Ukrnafta has subleased 117 property complexes – immovable and movable property of gas stations across Ukraine,” the publication noted.
In particular, UAH 715.9 million accounts for 99 gas stations that Alliance Holding leases from their owner, Invest-Region LLC, and another UAH 126 million accounts for 18 gas stations that Alliance Holding leased from the same company.
The founder of Invest-Region is Alliance Holding.
“The sublease fee will be determined based on a calculation of 1.74 UAH including VAT for each liter of fuel sold by Ukrnafta at these gas stations. The price of the contracts is fixed for the entire term,” Nashi Hroshi reported.
As reported, in December 2025, UKRNAFTA announced the completion of the rebranding of all 118 gas stations that previously operated under the Shell brand.
Prior to that, in August 2025, Ukrnafta and Dutch Shell Overseas Investments BV (Netherlands) finally completed the agreement on the acquisition by Ukrnafta of a 51% stake in Alliance Holding, which owned a network of 118 gas stations under the Shell brand in Ukraine.
The joint venture between Shell and Mussa Bazhaev’s Russian Alliance Group to manage the network of gas stations in Ukraine began operations in August 2007. Shell owned a 51% stake in the joint venture, while Alliance owned 49%. Alliance transferred about 150 gas stations to the joint venture, while Shell contributed cash, licenses, and the brand.
In 2014, it became known that sanctioned Russian businessman Eduard Khudainatov had bought Bazhaev’s oil assets. In June 2022, he was sanctioned by the European Union, and in October 2022, by Ukraine.
In October 2023, the Ministry of Justice of Ukraine filed a lawsuit with the High Anti-Corruption Court of Ukraine to recover Khudainatov’s assets for the state. As a result of court proceedings, 49% of Alliance Holding was recovered for the state. In April 2024, this share was transferred to the State Property Fund.
In November 2024, Overseas Investments, part of Shell’s group of energy and petrochemical companies, registered 51% of the authorized capital of Alliance Holding in accordance with the decision of the Appeals Chamber of the High Anti-Corruption Court.
In January 2025, the Antimonopoly Committee of Ukraine granted Ukrnafta permission to purchase more than 50% of the shares of Alliance Holding LLC.
Thus, Alliance Holding is currently 51% owned by Ukrnafta and 49% by the State Property Fund.
JSC Ukrnafta is Ukraine’s largest oil production company and operates the largest national network of filling stations, UKRNAFTA. The company has 1,807 oil and 164 gas production wells on its balance sheet.
In 2024, the company entered into an asset management agreement with Glusco. In 2025, it completed a deal with Shell Overseas Investments BV to purchase the Shell network in Ukraine. In total, it operates 663 gas stations.
The company is implementing a comprehensive program to restore operations and upgrade the format of its network of gas stations. Since February 2023, it has been issuing its own fuel vouchers and NAFTAKarta cards, which are sold to legal entities and individuals through Ukrnafta-Postach LLC.
The largest shareholder of Ukrnafta is Naftogaz of Ukraine with a 50%+1 share. In November 2022, the Supreme Commander-in-Chief of the Armed Forces of Ukraine decided to transfer the company’s corporate rights, which belonged to private owners, to the state, and they are now managed by the Ministry of Defense.
In October-December 2025, Elworthy JSC, a manufacturer of sowing and tillage equipment based in Kropyvnytskyi, reduced its revenue by 17.3% compared to the same period in 2024, to almost UAH 121 million.
According to the company’s interim report for the fourth quarter of last year, exports amounted to UAH 36.8 million (30.4% of revenue), while a year ago this figure was UAH 37.9 million (25.9%).
According to the interim report, in the fourth quarter, the plant produced 149 seeders for UAH 61.6 million (153 seeders for UAH 49.6 million in October-December 2014), four cultivators for UAH 1.2 million (72 units for UAH 17.5 million), 45 harrows for UAH 10.5 million (36 units for UAH 7.9 million), and 13 sprayers for UAH 11.3 million (14 units for UAH 8 million).
The main customers were domestic companies such as Agroresurs, Technotorg, Minetech, as well as Agropiese TGR Grup (Moldova) and Galuotas (Lithuania). The main export markets are Kazakhstan, Moldova, Bulgaria, Latvia, and Romania.
The company sells its equipment through its own dealer network, which currently includes more than 35 dealerships.
Among the company’s main competitors are, in particular, the Ukrainian Veles-Agro, Belotserkovmaz, Favorit, Promagroleasing-Ukraine, Remsyntez, Agrotech, Agromash Kalyna, LKMZ, Boguslavska Agricultural Machinery, and Maschio Gaspardo (Italy).
“Elworthy reminds that the company’s 2025 business plan envisaged sales of UAH 712 million (25% more than a year ago) and break-even operations.
Elvorti JSC, a part of the Elvorti Group owned by businessman Pavlo Stutman, specializes in the production of sowing and tillage equipment: seeders for sowing grain and row crops, cultivators for continuous and inter-row tillage, and disk harrows for resource-saving tillage.
As of early 2026, the company employed 372 people.
As reported, the year before last, the company reduced its loss by more than three times compared to 2023, to UAH 27.6 million, and increased its net income by 16.3% to UAH 570.5 million.
In January-September 2025, the company increased its loss by 27.8% compared to January-September 2024 to UAH 15.9 million, while net income increased by 18.5% to UAH 502.8 million.
Bitcoin fell below $70,000 on Thursday for the first time since November 2024 — the market remains in risk-off mode, and investors continue to reduce their positions in risky assets. According to CoinDesk, by 13:53 Kyiv time, BTC was down 3.3% and trading at around $70,244. During the session, the price briefly dropped to $69,869.
Pressure was intensified by flows from US spot ETFs. According to SoSoValue, a net outflow of $545 million was recorded on Wednesday. BlackRock’s largest IBIT fund lost $373 million.
The fund for the sell-off is the narrowing of support from the “AI rally,” growing investor caution amid geopolitical uncertainty, discussions about the future trajectory of the Fed, and inflation remaining above target levels.
In January, Bitcoin fell nearly 11%, ending the month down for the fourth consecutive time. In 2025, the price had previously risen to a record $126,000 amid growing institutional demand and expectations of a more favorable White House attitude toward the crypto industry.
The head of the parliamentary committee on finance, tax, and customs policy, Danylo Getmantsev (Servant of the People faction), announced the first meeting of the interdepartmental parliamentary-governmental working group on the implementation of the affordable housing construction program.
“The state should assume the inflation risks in this model. The key instrument should be a state mortgage at 3% per annum for a term of up to 25 years,” he wrote on his Telegram channel.
According to him, the meeting participants agreed that the mortgage system in Ukraine is “critically underdeveloped” and that the ratio of mortgage lending to GDP is one of the lowest in Europe (less than 1%).
Getmantsev stressed that the housing program is designed for approximately 1 million families, and potential participants include military personnel, teachers, medical workers, internally displaced persons, large families, and social workers.
At the same time, the implementation of the program should not lead to the creation of isolated housing estates, and new housing should be integrated into communities.
The working group has been tasked with preparing proposals for financing the program through bank loans, the issuance of mortgage bonds, assistance from international partners, and the issuance of government bonds. He said the next step would be an open dialogue with representatives of the construction industry to develop “balanced and realistic solutions.”
As reported, partner banks of the state affordable mortgage program “eOselya” issued a total of 7,769 loans in 2025 for almost UAH 15 billion, including 4,881 loans for “first sale” housing, including 1,499 apartments in buildings under construction.
H&M has launched an online store in Ukraine, according to a statement by H&M Hennes & Mauritz AB’s press service to the Interfax-Ukraine news agency.
“The launch of hm.com is a historic event for H&M in Ukraine. I am very pleased that our long-awaited online store is finally available to all customers. I believe that a combination of a strong offline and online presence is key to building strong relationships with our customers,” commented Michalina Ludwiczak, Sales Manager for Sales Market Poland at H&M.
Customers in Ukraine can order items from the main collections online, as well as H&M Home (excluding furniture and lamps), H&M Move, and special lines, such as H&M Studio. Subscribers to the H&M Fashion Newsletter are the first to receive information about exclusive offers, current selections, presentations of new collections, and other news.
The first H&M store in Ukraine opened in 2018. Today, the brand has nine physical stores: seven in Kyiv, one in Odesa (renovated in June 2025), and one in Lviv.
The production of trawls for transporting large-sized cargo in Ukraine in 2025 increased by 18% to 415 units, according to Dmytro Kysilevsky, deputy chairman of the Verkhovna Rada Committee on Economic Development.
“We have achieved good results in the machine-building industry, which we risked losing just a few years ago. Demand generated by farmers, logistics companies, and partly by the state has been transformed into domestic production thanks to the ”Made in Ukraine” policy. The main instruments were localization in public procurement and compensation of 15% of the cost of Ukrainian equipment,” he wrote on Facebook.
Kysilevsky noted that last year, trawls in Ukraine were manufactured by three companies that are actively investing in the development and establishment of exports. Production of a new type of product, modular trawls, has also begun.
At the same time, the MP emphasizes that low-quality Turkish and Chinese trawls are still widely present in defense procurement.
“Bill No. 13392 on localization in defense procurement is designed to correct this. It will extend localization requirements to the procurement of civilian goods by the defense forces, including this type of product,” Kysilevsky wrote.
He recalled that in 2025, the share of the processing industry in the state budget was the largest – 18%, meaning that it is gradually becoming one of the driving forces of the Ukrainian economy.
The “Made in Ukraine” policy for the development of Ukrainian manufacturers combines programs that stimulate production, industrial investment, and non-raw material exports.
As reported, draft law No. 13392, co-authored by Kysilevsky, was adopted by the Verkhovna Rada in the first reading on November 4, 2025.
In particular, the document provides for amendments to the Law “On Public Procurement,” whereby, until December 31, 2032, localization requirements will temporarily apply to defense procurement of civilian goods worth more than UAH 1 million, provided that such goods are included in the list of goods with a confirmed degree of localization of production directly by their manufacturer.
The required level of localization in 2026 is 30% (2025 – 25%).
