Business news from Ukraine

Business news from Ukraine

Zelensky asked Shmygal to replace Minister of Culture

Ukrainian President Volodymyr Zelensky has asked Prime Minister Denis Shmygal to replace Oleksandr Tkachenko as Minister of Culture and Information Policy.

“Budget expenditures during such a war are the maximum of state attention, which means that state resources should go to defense. And every project that can be realized with extra-budgetary resources should be realized with extra-budgetary resources,” he said in a video message on Thursday.

According to him, this applies to different spheres and, in particular, the field of culture.

“Museums, cultural centers, symbols, serials. All this is important, but now other priorities. Find extra-budgetary funds. Not of the state,” Zelensky said.

“I suggested to the head of the government two steps. The first is to find extra-budgetary funds for projects that you really need now. There are people in the world who can help. And the second, asked the Prime Minister to consider replacing the Minister of Culture and Information Policy of Ukraine,” he also said.

According to Zelensky, “people should feel that the resources of budgets are used fairly and correctly. Everyone understands what we are talking about. Paving stones, decoration of cities, fountains will wait. Victory first.”

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Nationalization of former Alfa Bank will increase share of state banks in Ukraine to 56%

The nationalization of Sense Bank (formerly Alfa Bank), launched on Thursday by the National Bank of Ukraine, will increase the share of state-owned banks in the total assets of the country’s banking system by 3.3 percentage points (p.p.) to about 56%, NBU head Andriy Pyshnyy said.

“This is not a critical indicator,” he said at a briefing on Thursday.

According to Pyshnyy, nationalization of Sense Bank will not be a problem in relations with the International Monetary Fund, which opposes increasing the share of state banks in the market, as the National Bank took such a step in order to ensure financial stability.

The head of the National Bank also said that the question about the possible future sale of Sense Bank should be asked to its future owner – the state represented by the Ministry of Finance.

“Of course, they will have to decide on its further strategy, given that Ukraine has committed to reducing the state’s share in the banking system. We believe that this issue will be relevant, as, in fact, in relation to any other state-owned bank”, – said Pyshnyy.

Last week, Deputy Economy Minister Sergei Sobolev said it was necessary to create a mechanism that would allow nationalized banks to quickly return to the private market in shares or as a whole.

Currently, four state-owned banks – Privat, Oschad, Ukrexim and Ukrgas – are among the top five largest banks in the market in terms of total assets. Their combined market share by this indicator amounted to 52.5% at the beginning of June, and in absolute terms – UAH 1.501 trillion.

In terms of total assets at the beginning of June – UAH 96.64 bln, or 3.4% of the total volume – Sense Bank ranked 11th in the market among 65 operating banks.

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UN Security Council will meet tomorrow on Black Sea Grain Initiative topic

The UN Security Council will meet on Friday, July 21, to discuss the humanitarian consequences of Russia’s interruption of the Black Sea Grain Initiative, according to the UK mission, which holds the presidency of the UN Security Council.

“The UN Security Council will meet tomorrow at 10:00 a.m. for a briefing on Ukraine. The Council will discuss the humanitarian consequences of Russia’s interruption of the Black Sea Grain Initiative,” the statement said on Twitter.

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Ukrainian Foreign Ministry summoned Kyrgyz ambassador

On Thursday, July 20, the Ukrainian Foreign Ministry summoned the ambassador of the Kyrgyz Republic to Ukraine, Idris Kadyrkulov, to obtain clarifications regarding information about the use of the Kyrgyz jurisdiction to circumvent sanctions against the aggressor state Russia.

According to the press service of the Ministry of Foreign Affairs of Ukraine, the matter in particular concerned the supply of dual-use products and high-tech components and products that can be used for the manufacture of weapons.

“The diplomat’s attention was drawn to the fact that the Kyrgyz Republic as a member of the world community should be responsible for compliance with the international sanctions policy against Russia. It was separately emphasized that re-export from the territory of Kyrgyzstan to the Russian Federation of goods that can be used to equip military equipment will be regarded by the Ukrainian side as unfriendly actions aimed at supporting Russia’s war of conquest against Ukraine,” the ministry stressed.

Supreme Anti-Corruption Court has chosen preventive measures for suspects in Ukrgazbank case

Investigating judge of the Supreme anti-corruption court on Thursday, July 20, elected a measure of restraint in the form of detention of two more suspects in the case of illegal activities of officials of the state-owned JSB “Ukrgasbank” causing damage of over 206 million hryvnias, namely the former Deputy Prosecutor General of Ukraine and his wife.

“After the detention of persons and delivery to the place of pre-trial investigation investigator judge will decide on the application of this measure of restraint”, – reports the Specialized anti-corruption Prosecutor’s office in the Telegram channel.

According to the version of the investigation, during 2014 – 2019 years, the management of “Ukrgasbank” ensured the conclusion of 52 fictitious contracts with “agents”, allegedly attracting large clients to the Bank, and groundlessly transferred more than 206 million UAH for their “services”.

At the moment in the mentioned criminal proceedings 5 main persons involved in this crime have been reported on suspicion, including the former head of the National Bank, who at the time of the crime held the position of the Chairman of the Board of Ukrgasbank, former and current officials of banking institutions.

As of today, the total number of participants in the scheme is 15 people, including the former chairman of the board of Ukrgasbank.

Canada expands sanctions lists against entities and individuals

On Thursday, July 20, a new package of anti-Russian sanctions came into force, targeting entities and individuals associated with the Russian military-industrial complex, as well as cultural figures who have voiced support for Russian aggression against Ukraine, according to the press service of the Canadian government.

“Canada imposes sanctions against 21 organizations associated with the Russian military-industrial complex, including financial and telecommunications companies,” the statement said.

The list included such companies as MTS, Megafon, Tele2, Tinkoff Bank, Yandex Pay, Beeline, the payment system “Mir” and others.

In addition, sanctions were imposed against 20 individuals associated with the Russian military-industrial complex, including important military figures who were active in Africa and Ukraine, and individuals associated with the Russian nuclear sector.

Separately, a sanctions list was released, including 19 individuals who use their art (music, acting, film) to propagandize the Russian invasion of Ukraine, as well as individuals from Russia’s cultural and educational sector, including museum directors, who are involved in the damage or total destruction of cultural property. in Ukraine.

They included Ivan Okhlobystin, Nikita Mikhalkov, Phillip Kirkorov, Iosif Prigozhin and others.

In addition, Canada imposed sanctions against four organizations involved in the Kremlin’s efforts to “Russify” Ukrainian culture. This number included the Ministry of Culture of the Russian Federation, the Ministry of Science and Higher Education of the Russian Federation, Besogon LLC and Readovka.ru LLC.

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