Business news from Ukraine

G7 COUNTRIES TO ANNOUNCE NEW AID TO UKRAINE – BLOOMBERG

The leaders of the G7 countries will announce the provision of new financial, humanitarian and military support to Ukraine, Bloomberg reports citing a draft statement of these countries from the summit in Bavaria.
“We will continue to provide financial, humanitarian, military and diplomatic support to Ukraine, as well as support it for as long as necessary,” the agency quotes from a document received by it.
Bloomberg emphasizes that this “wording is important because the members of the G7 are concerned about the prolongation” of the war. However, some countries, including Germany and France, “have hinted that they may be more open to the idea of a negotiated ceasefire.”
According to the agency, the document says that the leaders of the G7 are also considering the possibility of using revenue from duties to support Ukraine.
It is noted that earlier the G7 discussed how to coordinate actions to combat rising inflation and prevent a recession, as well as ways to maintain “pressure on Russia.”
The G7 summit is taking place in Bavaria on June 26-28.

, ,

EU TO ALLOCATE 9 BILLION EUROS IN AID TO UKRAINE

The EU will allocate 9 billion euros in aid to Ukraine, Polish Prime Minister Mateusz Morawiecki has said.
“This historical moment and the language of today’s conclusions have been rejected for a long time. We have changed this with many countries. Ukraine is at war and has nothing to pay for many public services, so we have approved the allocation of 9 billion euros in aid,” Morawiecki said. on the page of the Office of the Polish Prime Minister on Twitter on Friday.

, ,

SECOND TRANCHE OF AID FOR 600 MLN EUROS FROM EU WILL BE PAID TO UKRAINE “VERY SOON THIS MONTH”

The second tranche of the European Union’s macro-financial assistance to Ukraine in the amount of 600 million euros will be paid “very soon” in May.
This was reported to Interfax-Ukraine on Monday by a high-ranking official of the European Commission.
“The European Union has allocated 1.2 billion euros of macro-financial assistance, of which 600 million euros have already been paid, and the remaining 600 million will be paid very soon this month,” he informed.
The official also reminded that on May 5, a donors’ conference organized by Poland and Sweden will take place. “It will be a fundraiser for humanitarian aid,” he added.
Speaking generally about the reconstruction of Ukraine after the war, the representative of the European Commission stated the need to restore the country in accordance with “European standards, in accordance with the European Green Deal, the digitalization agenda, with the best principles of public administration, the rule of law – in every sense – in accordance with European standards.” “This is exactly how we think it can be done, that we can do it together. Of course, on our part, this will require very deep cooperation with Ukraine,” he added.

,

COCA-COLA WILL PROVIDE AROUND $15 MLN IN AID TO UKRAINE

American-based Coca-Cola Co., the world’s largest soft drink producer, along with the Coca-Cola Foundation and its global bottling partners, will provide around $15 million in aid to Ukraine, which has been militarily invaded by Russia’s aggressor nation.
Efforts to provide humanitarian assistance in the region will include donations of funds and products manufactured by the corporation, according to the company’s report for the first quarter of 2022.
“This funding will support further relief efforts by the Red Cross and other organizations operating in Ukraine and neighboring countries, helping millions of displaced people,” Coca-Cola said in a report.
In addition, the corporation provides urgent financial assistance to all its employees in Ukraine.
According to the report, on March 8, 2022, Coca-Cola announced the suspension of its activities in the Russian Federation in response to its armed aggression in Ukraine. This measure will tentatively reduce the corporation’s net revenue and operating profit for the year by 1-2%, and also reduce earnings per share by about $0.04/share.
The company’s net profit in January-March decreased by 23.5% compared to the same period last year, to $2.25 billion.
Coca-Cola’s quarterly revenue increased by 5%, to $9.02 billion from $8.6 billion a year earlier.
Sales of carbonated drinks increased by 4%, driven mainly by China, India and Latin America. Sales of juices, milk drinks and plant-based drinks increased by 3%. Sales of water, sports drinks, coffee and tea fell by 11%.
As reported, Coca-Cola on March 8 announced the suspension of business in Russia in connection with Russian aggression against Ukraine, while in Russia it owns 10 factories for the production of soft drinks and juices.
On February 24, the corporation announced a temporary shutdown of the plant in Kyiv and the evacuation of employees.

, ,

YELLEN CALLS $500 MLN US AID TO UKRAINE ‘ONLY BEGINNING’

U.S. Treasury Secretary Janet Yellen called an additional $500 million financial aid package to Ukraine, previously announced by U.S. President Joe Biden, “only the beginning,” the Associated Press said.
“We plan to deploy this direct aid to Ukraine as soon as possible, to be used on the most urgent need. This is only the beginning of what Ukraine will need to rebuild,” she said.
Thus, this package will be provided in addition to the $500 million that Biden announced in March, the agency notes.
Speaking of sanctions against Russia, she noted that the U.S. continues to “tighten the vise of our economic pressure campaign.”
“Europe clearly needs to reduce its dependence on Russia in respect to energy. But we need to be careful,” Yellen said.
Yellen met with Ukrainian Prime Minister Denys Shmyhal and Finance Minister Serhiy Marchenko on Thursday.
Earlier, Yellen and several other officials, including European Central Bank President Christine Lagarde, left the room during the speech of Russian Finance Minister Anton Siluanov at the G20 meeting in Washington. So did U.S. Federal Reserve Chairman Jerome Powell and Canadian Deputy Prime Minister Chrystia Freeland.
Yellen stated that Russia should be excluded from the G20 and that she intended to boycott events where Russian officials would speak.

, ,

SOUTH KOREA TO SEND MORE THAN $1 MLN IN AID TO UKRAINE

South Korea plans to provide Ukraine with an additional 2 billion won ($1.6 million) in non-lethal aid this month, Yonhap News has reported, citing an informed source.
According to the source, Seoul is preparing to start sending items such as bulletproof vests, helmets, medical supplies and ready-to-eat food to Ukraine as early as next week.
South Korea plans to phase out new aid on civilian flights to Europe until the end of April.
Seoul already sent 1 billion won in aid last month.

, ,