Business news from Ukraine

Business news from Ukraine

AUSTRALIA ANNOUNCES IMMINENT BAN ON IMPORT OF HYDROCARBONS FROM RUSSIA

The Australian authorities have decided to soon impose a ban on the import of oil, gas, coal and oil products from Russia, The Guardian reports on Friday, citing a representative of the Australian Foreign Ministry.

“This decision does not threaten Australia’s energy security. Australia has diversified and sustainable oil supply chains and adequate oil reserves thanks to the government’s comprehensive energy security policy,” he said.

The ban will take effect no earlier than in 45 days. In this regard, the representative of the ministry specified for The Guardian, ships carrying already paid energy carriers from the Russian Federation will be able to arrive for shipment in Australian ports.

He noted that Australia does not import these goods from Russia in significant volumes. At the same time, the diplomat expressed the opinion that since energy resources are the largest source of export earnings to the Russian Federation, restrictions on their acquisition by Australia and its allies will reduce Moscow’s ability to operate in Ukraine.

U.S. President Joe Biden on Tuesday signed a decree banning the import of oil, oil products, as well as liquefied natural gas and coal from Russia, which led to another jump in prices on the global energy market.

The British authorities also announced their intention to stop buying Russian oil within the next few months.

Meanwhile, the Financial Times said that the U.S. authorities are actively looking for new energy supplies after the refusal to import Russian oil, trying to prevent further growth in fuel prices at American gas stations.

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PRESIDENT OF UKRAINE APPOINTS NEW AMBASSADORS TO CANADA, AUSTRALIA AND EGYPT

President of Ukraine Volodymyr Zelensky has appointed former Deputy Head of the President’s Office, former member of the Supervisory Board of NJSC Naftogaz Ukrainy Yulia Kovaliv as Ambassador of Ukraine to Canada.
A photocopy of the relevant decree was posted on Facebook by Deputy Head of the President’s Office Andriy Sybiha.
In addition, Vasyl Miroshnychenko was appointed Ambassador of Ukraine to Australia, and Mykola Nahorny was appointed Ambassador of Ukraine to Egypt

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AUSTRALIA AND UKRAINE DISCUSS COOPERATION IN TRADE AND ECONOMIC SPHERES

Ambassador of Ukraine to Australia Mykola Kulinich held a number of meetings in Melbourne, the purpose of which is to expand the Ukrainian-Australian cooperation in the trade and economic sphere, the press service of the Ukrainian Embassy in Australia said.
“The meeting with President of the Australian-Ukrainian Chamber of Commerce Eugene Hawryszko was devoted to the discussion of the prospects for increasing trade between the two countries, the possibility of entering the Australian market for new types of Ukrainian products, as well as the establishment of joint ventures,” the statement says.
In addition, according to the press service of the embassy, during a meeting with head of the Australian-Ukrainian Business Council J. Epp, they discussed attracting Australian investments and technologies to Ukraine, as well as further organizational restructuring of the business council.

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UKRAINE OPENS VISA-FREE REGIME FOR CITIZENS OF AUSTRALIA, NEW ZEALAND AND ARABIAN PENINSULA.

President of Ukraine Volodymyr Zelensky has signed a decree establishing a visa-free regime for citizens of Australia, New Zealand and the countries of the Arabian Peninsula. Corresponding decree No. 289/2020, dated July 21, was published on the website of the head of the Ukrainian state. It comes into force on the day of its publication.
“To establish, from August 1, 2020, a visa-free regime of entry into Ukraine and transit through the territory of Ukraine for citizens of Australia, New Zealand, the Kingdom of Bahrain, the State of Kuwait, the Sultanate of Oman, the Kingdom of Saudi Arabia, if their stay in Ukraine does not exceed 90 days during 180 days. The Cabinet of Ministers of Ukraine is to take the measures expiring from this decree,” the text of the document reads.

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BORSCHAHIVSKY PHARMACEUTICAL PLANT ENTERS THREE NEW MARKETS (AUSTRALIA, ESTONIA. PORTUGAL) IN 2017

PJSC Borschahivsky Chemical and Pharmaceutical Plant (Kyiv) in 2017 began exporting its products to Australia, Estonia and Portugal, the press service of the plant has reported. At present, the plant’s products are exported to 19 countries, including Lithuania, Latvia, and the CIS countries. At the same time, the share of exports in total sales in 2017 was 12.2%.
“In 2017 the company exported products worth UAH 152.3 million, which is 37% more than in the previous year,” the report said.
As reported, in April 2018 the Credit-Rating agency raised the long-term credit rating of the plant to the level of uaAA+ with a stable outlook.
Earlier, the plant announced its intention to expand the portfolio of veterinary drugs and biologically active additives.
PJSC Borschahivsky Chemical and Pharmaceutical Plant is one of the top 20 largest pharmaceutical manufacturers in Ukraine. It is a member of the Manufacturers of Medications of Ukraine Association.

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