Business news from Ukraine

Business news from Ukraine

Invitation to join Convention on Combating Bribery of Foreign Public Officials – recognition of Ukraine’s commitment to transparency

Invitation by the Organization for Economic Cooperation and Development (OECD) Working Group on combating bribery in Ukraine to join the Convention on Combating Bribery of Foreign Public Officials in International Business Transactions and become a full member of the relevant Working Group is recognition of the fact that Ukraine is clearly choosing a course of action to raise standards of transparency, accountability, and integrity in the interaction between business, civil society, and government.

This opinion was expressed to the Interfax-Ukraine agency by Oleksiy Shevchuk, chairman of the board of the National Association of Lobbyists of Ukraine.

“For us, as a professional community of lobbyists, the request from the Organization for Economic Cooperation and Development is an important signal: the state is clearly choosing a course of action to raise standards of transparency, accountability, and integrity in the interaction between business, civil society, and government,” he said.

Shevchuk noted that “in this context, the Association of Lobbyists of Ukraine believes that business, lobbyists, and state institutions should use this combination of two reforms—anti-corruption and lobbying—as an opportunity.”

According to Shevchuk, this refers, in particular, to the opportunity to create standards of professional ethics and conduct in the field of lobbying that will meet both the requirements of the law and the expectations of international partners, as well as the opportunity to review the internal policies of companies, “especially those operating abroad or in an international context, for compliance with the requirements of the Organization for Economic Cooperation and Development regarding the bribery of foreign officials.”

In addition, according to Shevchuk, such accession will “contribute to the new lobbying system becoming not only a platform for interests, but also a guarantor of good faith participation in state-building processes, creating trust in Ukraine among investors and international partners.”

“We believe that these changes should transform from a formal approach into an effective practical tool, and the Association is ready to facilitate training, code development, consultation, and monitoring. For Ukraine, this is a chance to increase competitiveness and demonstrate that we are capable of acting in accordance with the best international practices,” he said.

As reported, the Organization for Economic Cooperation and Development (OECD) Working Group on Bribery invited Ukraine to join the Convention on Combating Bribery of Foreign Public Officials in International Business Transactions and become a full member of the relevant Working Group. The basis for this process was draft law No. 11443, prepared by the parliamentary committee on law enforcement, on improving mechanisms for holding legal entities accountable for bribing foreign officials. In particular, the draft law provides for the possibility of applying special confiscation on the basis of a court decision to apply criminal law measures to a legal entity. According to the draft law, additional (non-financial) criminal law measures may be applied to a legal entity in the form of a temporary restriction on the activities of the legal entity or a temporary restriction on the acquisition of rights and/or benefits. The draft law also provides for an increase in the amount of fines imposed on legal entities as the main criminal law measure.

 

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Volume of construction work completed in Ukraine in January-August increased by almost 20%

The volume of construction work completed in Ukraine in January-August 2025 increased by 19.5% compared to the same period in 2024, reaching UAH 140.2 billion, according to data from the State Statistics Service (Gosstat).

According to the statistics agency, over the eight months of 2025, the volume of building construction increased by 30.9%, of which residential buildings increased by 16.4%, non-residential buildings by 38.7%, and engineering structures by 11.5%.

The share of new construction in the total volume of construction work performed in January-August was 42.8%, repairs – 30.1%, reconstruction and other work – 27.1%.

According to the State Statistics Service, in January-August this year, the construction output index reached 113.1% compared to the same period last year, with the indicator standing at 109.1% in residential construction, 130.7% in non-residential construction, and 105.7% in engineering construction.

In August, the construction output index reached 124.4% compared to last year’s figure, and 87.2% compared to July 2025.

According to seasonally adjusted data from the agency, the construction output indices in August 2025 in residential construction were 61.4%, in non-residential construction – 130.4%, in engineering construction – 125.5%, and taking into account the effect of calendar days, the figures are 62.1%, 131.4%, and 128.3%, respectively.

The State Statistics Service notes that the publication of the data was delayed due to martial law.

 

Religious or other beliefs of Ukrainian citizen not grounds for exemption from criminal liability for evading mobilization

A person’s religious or other beliefs are not grounds for exempting them from criminal liability for evading mobilization, according to the Supreme Court.

“Ukrainian legislation does not provide for exemption from the obligation to perform military service upon mobilization based on religious or other beliefs,” the Supreme Court said in a statement on its website on Monday.

The statement notes: “Such beliefs cannot be grounds for exempting a person from criminal liability in the event of evading mobilization within the meaning of Article 336 of the Criminal Code of Ukraine.”

This conclusion was reached by the Joint Chamber of the Cassation Criminal Court within the Supreme Court following the consideration of case No. 573/838/24.

The Court informs that, based on the circumstances of the criminal proceedings, the courts of previous instances found the defendant guilty and convicted him under Article 336 of the Criminal Code of Ukraine for the fact that, being fit for military service due to his state of health, he failed to appear at the Territorial Center for Recruitment and Social Support (TCSPS) for referral to a military unit for the purpose of performing military service.

“In the cassation appeal, the defense attorney noted that the defendant had grounds for conscientious objection to military service, since such refusal was based on his sincere religious beliefs, incompatible with the performance of any military service, including non-armed service, as well as on his membership in the religious organization of Jehovah’s Witnesses, whose doctrine categorically excludes the possibility of such service,” the statement said.

According to the Supreme Court, in assessing the cassation claims, the Joint Chamber noted that conscription may entail the performance of non-combat military duties that do not require the carrying and use of weapons (repair of equipment, evacuation of the wounded, construction of fortifications, etc.).

“The Joint Chamber recognized that the impossibility of refusing military service on the basis of conscience, as established by law, means that such a restriction must be applied in proportion to the objective pursued, even when defending the Fatherland from aggression,” the Court explained.

Thus, as noted in the statement, “conscription into military service does not automatically cancel the right to conscientious objection to carrying or using weapons.”

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Japanese startup launches world’s first stablecoin pegged to yen

Japanese startup JPYC has launched the world’s first stablecoin pegged to the yen, Reuters reports.

The stablecoin is also called JPYC and can be fully converted into yen. It is backed by internal cash reserves and Japanese government bonds.
The company intends to issue JPYC worth 10 trillion yen ($66 billion) over three years and ensure widespread use of this cryptocurrency abroad.

To stimulate its circulation, JPYC does not plan to charge transaction fees at the initial stage. It will generate income from interest payments on government bonds.
“We hope to stimulate innovation by enabling startups to pay low fees for transactions and settlements,” Chief Executive Officer Noritaka Okabe told reporters.

Blockchain-based stablecoins are usually pegged to fiat currencies, allowing for faster and cheaper payments.
More than 99% of stablecoins in the world are pegged to the US dollar, according to the Bank for International Settlements (BIS).

Nikkei reported in October that Japan’s three largest banks — Mitsubishi UFJ Financial Group, Sumitomo Mitsui Financial Group, and Mizuho Financial Group — would jointly issue their own stablecoins.
In September, nine European banks, including UniCredit and Raiffeisen, announced similar plans.

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SPFU sells state-owned enterprise Atlantis-Pak Ukraine for UAH 38 mln

The State Property Fund of Ukraine (SPFU) has put up for online auction in the Prozorro.Prozori electronic trading system 100% of the state share in the subsidiary Atlantis-Pak Ukraine (Sofiivska Borshchahivka, Kyiv region) at a starting price of UAH 37.88 million (excluding VAT).

According to the SPFU, applications will be accepted until November 3, and the auction will take place on November 4.

The fund noted that Atlantis-Pak Ukraine is a subsidiary specializing in the wholesale trade of food, beverages, and tobacco products.

The company’s balance sheet includes four vehicles manufactured in 2022-2020. The company does not own any real estate. It has remaining packaging materials. As of 2025, the company has five employees. During the period from 2022 to 2024 and the first half of 2025, Atlantis-Pak Ukraine sold products worth UAH 64.09 million.

According to the terms of sale, the buyer is obliged to ensure the repayment of wage arrears and budget debts within 6 months and not to allow the dismissal of employees.

“The subsidiary Atlantis-Pak Ukraine is an excellent project for business development and management. For the new owner, it is a successful investment object with great development potential,” the SPF noted.

 

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