Business news from Ukraine

Business news from Ukraine

“Kharkivenergosbyt” to Hold Shareholders’ Meeting on June 15

According to Fixygen, PJSC “Kharkivenergosbyt” has scheduled a general meeting of shareholders for June 15, 2026, as indicated in a filing on the SMIDA disclosure system. The meeting will be held remotely.

Kharkivenergosbyt PJSC was registered on June 7, 2018, with EDRPOU code 42206328. The company’s primary activity is electricity trading.

According to OpenDataBot, the company’s profile lists the following financial indicators: return on sales—2.02%, current ratio—1.01, financial leverage ratio—61.88, and current solvency—minus 4.948 million UAH.

Previous public reports indicated that the Ukrainian government, represented by the State Property Fund, held a 65% stake in “Kharkivenergosbyt,” while Smart Holding (Cyprus) held 29.79%.

“Kharkivenergosbyt” is an electricity supplier in the Kharkiv region. Since the start of full-scale war, the region’s energy companies have been operating under heightened risks due to shelling of infrastructure, debt burdens in the electricity market, and poor payment discipline among consumers.

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Walking May Help Brain “Clear Out” Waste Through Fluid Movement, Study Finds

Walking and other simple body movements may promote fluid circulation in the brain and potentially help it eliminate metabolic waste, according to a study published in the journal *Nature Neuroscience*.

A team of scientists studied brain movement in awake mice using high-speed two-photon microscopy. The researchers found that during movement, the brain shifts slightly within the skull, and this process is closely linked not to breathing or heart rate, but to the contraction of abdominal muscles during movement.

According to the study’s authors, the contraction of abdominal muscles creates mechanical pressure that is transmitted to the brain via vascular connections between the abdomen, spine, and central nervous system. The scientists describe this mechanism as a kind of “hydraulic” connection: body movement and muscle tension can trigger micro-movements of the brain and influence the movement of cerebrospinal and interstitial fluid.

Simulations have shown that such gentle brain movement may facilitate the removal of cerebrospinal fluid from brain tissue into the subarachnoid space. The authors emphasize that the direction of this flow differs from that observed during sleep, when the so-called glymphatic system—associated with clearing the brain of metabolic waste—is more active.

The popular science publication ScienceDaily, citing this study, notes that the contraction of abdominal muscles during movement may aid the circulation of cerebrospinal fluid, meaning that simple physical activity could potentially be linked to maintaining brain health. One of the study’s authors, Patrick Drew, explained that body movement may be an important physiological mechanism that affects the brain through a mechanical connection with the abdominal cavity.

However, the study does not prove that walking directly “cleanses” the human brain or treats neurological diseases. The study was conducted on mice, and conclusions regarding humans require further research. However, it demonstrates a possible biological mechanism through which routine physical activity may be beneficial not only for the heart, blood vessels, and muscles, but also for fluid exchange processes in the brain.

This is important for medicine and the wellness market because walking remains one of the most accessible ways to maintain health. Unlike complex workouts, it requires no equipment, special conditions, or high physical fitness. If future studies confirm a similar mechanism in humans, regular walking could gain another scientific rationale as a tool for preventing cognitive decline and maintaining normal brain function.

The study also notes that brain movement during walking has a very small amplitude—we are talking about microscopic displacements that cannot be felt. However, it is precisely these mechanical oscillations that may be sufficient to influence the movement of fluid in brain tissues.

The key conclusion of the study is that the brain is not completely isolated from the rest of the body, as was often previously thought. It is mechanically linked to the body’s movements, and contractions of the abdominal muscles during walking and other activities may be part of a system that helps move fluids within and around the brain.

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Hungary Again Closes Its Market to Ukrainian Agricultural Products

Hungary is reinstating a ban on imports of Ukrainian agricultural products, which had earlier temporarily ceased to be in force due to the expiration of emergency decrees. The new decision is intended to maintain restrictions on Ukrainian goods in the domestic Hungarian market, while the transit of products through the country’s territory, as before, may remain permitted.

According to Hungarian media, the previous ban on the import of more than 20 categories of Ukrainian agricultural products ceased to be in force on May 14 after the expiration of the legal regime on the basis of which it had been introduced. The list of restrictions included grain, oilseeds, flour, poultry meat, eggs and a number of other goods.

After that, Budapest announced its intention to restore the ban, explaining the decision by the need to protect Hungarian farmers and the domestic market. Earlier, Hungarian Minister of Agriculture István Nagy repeatedly stated that the country would not open its market to Ukrainian agricultural products even after the renewal of the trade agreement between the EU and Ukraine.

Hungary’s position remains part of a broader conflict around Ukrainian agricultural exports to the EU. After the start of the full-scale war, the European Union abolished duties and quotas for Ukrainian goods in order to support the Ukrainian economy and compensate for problems with maritime logistics. However, EU border countries, including Hungary, Poland and Slovakia, have stated that cheap Ukrainian products were putting pressure on local farmers.

The Hungarian ban is not a general ban on all Ukrainian exports. It primarily concerns supplies to Hungary’s domestic market. The transit of Ukrainian products to other EU countries or beyond the union had previously been maintained, since for Ukraine land and Danube routes remain an important part of export logistics.

Hungary explains the restrictions by the need to protect farmers from sharp price fluctuations. In 2022, flows of Ukrainian grain and oilseeds to neighboring countries increased sharply due to the reorientation of exports from the Black Sea to European routes. Reuters noted that before the war Hungary annually imported up to 50,000 tonnes of grain and oilseeds from Ukraine, while in 2022 the volume of such supplies rose to 2.5 million tonnes, and in 2023, before the introduction of the ban, amounted to up to 300,000 tonnes.

Corn became the main problematic category for Hungary. According to The Cattle Site, citing customs statistics, during the year after the start of the full-scale war, Ukraine exported 1.7 million tonnes of corn to Hungary, compared with about 30,000 tonnes before the war.

For Ukraine, the Hungarian decision has more political and logistical significance than critical trade significance. The main markets for Ukrainian agricultural exports in the EU are not in Hungary, but in larger consumer and processing countries. However, for border trade and certain commodity groups, the ban limits exporters’ flexibility and increases dependence on licensing, transit routes and agreements with the European Commission.

In 2025, the EU had already revised trade conditions with Ukraine, increasing quotas for a number of goods: for wheat — from 1 million to 1.3 million tonnes, sugar — from 20,000 to 100,000 tonnes, barley — from 350,000 to 450,000 tonnes, and poultry meat — from 90,000 to 120,000 tonnes. These changes were intended to balance support for Ukrainian exports and the interests of farmers in EU countries.

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Cabinet of Ministers of Ukraine has appointed Michael Weinstein as independent member of supervisory board of state-owned Sens Bank

The Cabinet of Ministers of Ukraine has appointed Michael Weinstein as an independent member of the supervisory board of the state-owned Sens Bank; from 2019 to 2023, he served as an independent member of the supervisory board of Oschadbank.
According to the bank’s report in the NSSMC’s information disclosure system, the government adopted the relevant decision by an order dated May 20, 2026; Weinstein will take office following approval by the National Bank of Ukraine.
His term on Sens Bank’s supervisory board is set to last until the current board’s term expires on October 3, 2028.
In recent years, Weinstein has also worked in financial institutions in Kazakhstan and the Netherlands.
Since 2019, he has been a member of the advisory committee of limited partners of the Kazakhstan Capital Restructuring Fund (Netherlands). In 2023–2024, Weinstein served as an independent member of the board of directors of JSC “Microfinance Organization OnlineKazFinance” (Solva, Kazakhstan), from 2019 to 2023, he served as an independent director of the Export-Credit Agency of Kazakhstan, and from 2019 to 2022, he was an independent member of the board of directors of JSC “National Management Holding ”KazAgro” (Kazakhstan).
As reported, in early May, the Verkhovna Rada’s Special Committee on Economic Security appealed to the Prime Minister, the Head of the National Bank, and the Minister of Finance with a request to investigate possible external influence on the activities of Sens Bank’s management bodies.
The committee also requested that Nikolai Gladyshenko, chairman of the bank’s supervisory board, and Alexei Stupak, chairman of the management board, be suspended from their duties for the duration of the investigation.
Subsequently, on May 6, Gladyshenko voluntarily stepped down from his duties as chairman of the supervisory board while the circumstances were being investigated, and these duties were assigned to independent board member Peter Novak.
SENS Bank was nationalized in 2023. According to the National Bank, as of April 1, 2025, with assets of 159.22 billion UAH, it ranked 9th among Ukraine’s 58 banks.

 

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Ukraine and Serbia Resume Free Trade Talks and Strengthen Business Cooperation

Ukraine and Serbia have agreed to resume work on a free trade agreement, which could become one of the most important economic steps in relations between the two countries in recent years.

In Belgrade, Ukraine’s Deputy Prime Minister for European and Euro-Atlantic Integration and Trade Representative of Ukraine Taras Kachka, and Serbian Minister of Internal and Foreign Trade Jagoda Lazarević signed a joint statement on the resumption of negotiations on a free trade agreement.

For Serbia, this document is of particular importance, since Ukraine remains the only European country with which Belgrade still has not signed a free trade agreement.

According to Kachka, work on the agreement is an important stage in the development of Ukrainian-Serbian relations and should contribute to deepening trade, industrial cooperation and the creation of new regional production chains.

The possibility of applying diagonal cumulation of origin will have separate importance. This will allow producers in Ukraine and Serbia to use raw materials and components from countries with which free trade agreements have been concluded and which are participants in the Pan-Euro-Mediterranean Convention, without losing the preferential origin of goods. For Serbian industry, this is especially important, since Ukrainian raw materials and semi-finished products have already played a significant role in a number of sectors.

The economic part of the Ukrainian delegation’s visit to Belgrade was accompanied by the Serbian-Ukrainian Business Forum, organized by the chambers of commerce and industry of the two countries. According to the Ukrainian Chamber of Commerce and Industry, representatives of 30 companies took part in the event, and the forum took place against the backdrop of the intensification of political and economic dialogue between Kyiv and Belgrade.

The Ukrainian delegation included President of the Ukrainian Chamber of Commerce and Industry Gennadiy Chyzhykov. The forum was opened by Deputy Prime Minister of Ukraine Taras Kachka, Serbian Minister of Internal and Foreign Trade Jagoda Lazarević, Serbian Ambassador to Ukraine Andon Sapundži, Ukrainian Ambassador to Serbia Oleksandr Lytvynenko, President of the Serbian Chamber of Commerce and Industry Marko Čadež, and President of the Ukrainian Chamber of Commerce and Industry Gennadiy Chyzhykov.

“For us, this forum is a practical working platform. It brings together representatives of the government, diplomatic missions, chambers and companies in one hall. It is precisely this format that helps business move from general interests to specific contacts, contracts and projects,” Chyzhykov said.

He thanked the Serbian Chamber of Commerce and Industry and personally Marko Čadež for preparing the meeting, as well as the ambassadors of the two countries for supporting bilateral economic dialogue.

“Your work is important because economic cooperation requires political trust, regular communication and institutional support,” the president of the Ukrainian Chamber of Commerce and Industry noted, addressing the diplomats.

According to Chyzhykov, the business community highly appreciates the fact that bilateral work is advancing at the government level.

“For business, predictability, clear rules and better access to the market are important. When state institutions and business organizations move in the same direction, companies receive a much stronger signal to invest time, resources and trust in bilateral cooperation. Serbia is a strategic partner for us in the Balkans,” he emphasized.

Chyzhykov also noted that Ukraine is interested in pragmatic cooperation with Serbia based on mutual respect, economic logic, reliable partnership and practical results.

“There is a range of groups of goods that is underestimated in the context of cooperation. This visit of our delegation and the forum became an excellent platform for bringing the Ukrainian and Serbian sides closer to a new stage of our relations. We are keeping the agricultural sector, the food sector and the energy sector in focus,” the president of the Ukrainian Chamber of Commerce and Industry added.

According to BGNES, in the first quarter of 2026, trade between Serbia and Ukraine amounted to $152.8 million, while Serbia recorded a positive balance of $36.8 million, and export coverage of imports reached 163.4%.

At the end of 2025, trade turnover between the two countries amounted to $442.2 million. Serbian exports to Ukraine reached $202.9 million, while imports from Ukraine amounted to $239.3 million. The main goods of Serbian exports are electricity, mineral and chemical fertilizers, tires and other industrial products, while semi-finished rolled products, iron ore and frozen raspberries are named among the goods imported from Ukraine.

President of the Serbian Chamber of Commerce and Industry Marko Čadež earlier noted in an interview with the Interfax-Ukraine agency that the chambers of the two countries have “excellent bilateral relations,” secured by a memorandum of cooperation signed three years ago within the framework of a business forum in Belgrade. According to him, the Serbian Chamber of Commerce and Industry and the Ukrainian Chamber of Commerce and Industry already have experience in organizing business forums, B2B negotiations, online business missions during the pandemic and joint statements on complex topics.

Čadež also emphasized that he and Chyzhykov are connected by years of joint work in Eurochambres and the World Chambers Federation, mutual understanding, common views on problems and solutions, as well as on the European future of the economies of the two countries.

“I consider him not only a colleague, but also a great friend, with sincere respect for everything that the Ukrainian Chamber and he personally are doing in order, even under impossible conditions, to help Ukrainian entrepreneurs in the country and connect them with international partners,” the president of the Serbian Chamber of Commerce and Industry said in an interview with the agency.

According to Čadež, the parties will also work on creating a Serbian-Ukrainian Business Council. He expressed confidence that in the future a business forum could also be organized in Ukraine with the support of the foreign ministers of the two countries, Marko Đurić and Andrii Sybiha.

The parties name IT, construction, agriculture and the food industry, energy, logistics and transport as practical areas of cooperation between Ukrainian and Serbian business. Earlier, the Ukrainian Chamber of Commerce and Industry reported that the program of the business mission to Serbia included B2B meetings with Serbian companies, the establishment of new business contacts, visits to enterprises and discussion of potential joint projects.

The Serbian side also sees opportunities for cooperation in Ukraine’s reconstruction projects. This concerns construction materials, energy equipment, agricultural machinery, irrigation systems, seed material, technologies for increasing yields, as well as supplies of products for the energy sector.

For Ukraine, Serbia is important not only as a trading partner, but also as a potential logistics and production hub for access to the markets of the Western Balkans, the EU, Asia and Africa. Čadež noted that Serbia, being located in the center of Southeastern Europe, can use its logistical links with the EU, the East and the South for the development of joint production and the export of Ukrainian and Serbian companies to third markets.

Danube logistics has separate importance. Using the route from the Ukrainian ports of Izmail and Reni toward Serbian ports and intermodal terminals, goods from Ukraine can more efficiently reach Corridor X, the markets of Central Europe and the Adriatic region.

Thus, the visit of the Ukrainian delegation to Belgrade, the signing of the statement on the resumption of negotiations on a free trade agreement, and the holding of the Serbian-Ukrainian Business Forum move the bilateral economic agenda from the level of intentions into the practical plane. Against the backdrop of recovering trade, the active role of the chambers of commerce and industry, and the discussion of the Serbian-Ukrainian Business Council, the parties are forming a new infrastructure of cooperation that can strengthen the industrial, logistical and investment link between Ukraine and Serbia.

Interfax-Ukraine is the official media partner for the organisation of the Serbian-Ukrainian Business Forum in Belgrade.

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Vucic offered the U.S. “true partnership” and invited Trump to Belgrade

According to Serbian Economist, Serbian President Aleksandar Vučić published an op-ed for the American television network Fox News, in which he presented Serbia as a country ready for a closer partnership with the US, and stated that Donald Trump’s policies are viewed in Belgrade not as a threat, but as an opportunity for stability and economic development.

In the column, Vučić contrasted the attitude of some European elites toward Trump with the mood in Serbia. He wrote that “contempt” for the America First philosophy has spread from Brussels to Berlin, whereas Serbia sees it as an opportunity for a more pragmatic policy focused on results, security, and economic growth.

Vucic emphasized that Serbia, despite the painful memory of the 1999 NATO bombings, has in recent years become one of the few corners of Europe where sympathy for the U.S. has grown. According to him, reflexive anti-Americanism—which he believes has spread throughout much of Europe—is rarely found in the country today.

Separately, the Serbian president described his experience interacting with Trump and his team during his first presidential term. According to Vučić, his meetings at the White House following difficult negotiations left him with the impression that Serbia’s position was listened to without prejudice or arrogance. He also wrote that the image of Trump as an “aggressive bully” did not match his personal experience of interacting with him.

The column’s key political thesis is that Serbia’s European path should not mean distancing itself from the U.S. Vucic stated that for Belgrade, the path to Brussels “does not require distancing from Washington,” and that Serbia’s special relationship with the U.S. could be an asset for the stability and growth of the entire European continent.

The economic section of the text was built around the idea of Serbia as a modern and strategically important partner for the West. Vučić noted that Serbia is one of Europe’s most dynamic economies, with GDP growth exceeding that of the Eurozone, and is becoming a hub for future technologies—from data centers to supply chains for electric vehicles.

He gave special attention to the lithium agenda. According to the president, Serbia has the second-largest lithium reserves in Europe, and this resource is key to Western industrial independence. Vucic also emphasized that Serbia is not seeking aid, but rather “deals” that secure supply chains, accelerate energy independence, and create jobs.

This is an important signal for the Serbian economy. Belgrade is attempting to position the country not only as an EU candidate and a regional player in the Western Balkans, but also as a potential component of American and European industrial strategy. In this context, lithium, energy, infrastructure, IT, data centers, and manufacturing for the electric vehicle industry are not separate projects but part of Serbia’s broader geo-economic agenda.

Vucic also effectively urged Washington to reconsider its view of the region. He stated that it is time for the U.S. to stop viewing the Balkans through the lens of the 1990s and to pay attention to Serbia as the largest economy in the Western Balkans, an “anchor of stability,” and a country that remembers its friends.

The most striking part of the column was the invitation to Trump to visit Belgrade. Vucic noted that no American president has visited the Serbian capital in over half a century since Richard Nixon’s visit in 1970, and stated that if Trump were to come to Belgrade, he would receive “a welcome the likes of which Europe hasn’t seen since Nixon.”

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