Business news from Ukraine

Business news from Ukraine

TEAMVIEWER LEAVES RUSSIA AND BELARUS

Software company TeamViewer has announced the complete cessation of its operations in Russia and Ukraine due to the Russian special operation in Ukraine.
“We have decided to completely phase out any remaining business activity in Russia and Belarus,” the company said in statement on its website.
“On top of compliance with all international sanctions and immediately having stopped new business, we also do not prolong any contracts with customers from Russia or Belarus,” the company said.
Existing subscriptions outside the scope of sanctions which are not affiliated with an unrightful usage of our products will be honored until contract-end but will not be renewed afterwards.
“Moreover, TeamViewer has blocked all unlicensed connections to and from Russia and Belarus to avoid any further usage of our software,” the company said.
TeamViewer (headquartered in Göppingen, southern Germany) is a manufacturer of software for remote access, remote management and remote maintenance of computers and other end devices.

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UKRAINIAN PARLIAMENT LIMITS CIRCULATION OF MEDICINES PRODUCED IN RUSSIA AND BELARUS

The Verkhovna Rada (Ukrainian parliament) has adopted a bill on limiting the circulation of medicines produced in the Russian Federation and Belarus (registration No. 7313).
The adoption of bill No. 7313 at the final reading at a session on Tuesday was supported by 316 MPs with the required 226 votes, Yaroslav Zhelezniak, a member of the Holos parliamentary faction, said on his Telegram channel.
As reported, bill No. 7313, which restricts the circulation of medicines produced in the Russian Federation or the Republic of Belarus, and authored by a group of MPs of the Servant of the People faction, including Head of the committee on national health, medical care and medical insurance Mykhailo Radutsky, was registered in the Rada on April 25, 2022.
According to First Deputy Minister of Health Oleksandr Komarida, state registration of medicines (all or selectively determined by the Ministry of Health) of an applicant in Ukraine can be temporarily canceled (registration certificate terminated) if it is established that this applicant or his representative is directly or indirectly related to business entities who are directly or indirectly involved in the production of medicines on the territory of the aggressor state (the Russian Federation or the Republic of Belarus).
In addition, the registration of the drug may be canceled if, after February 23, 2022, the applicant participated in at least one of the stages of production of any medicinal product or active pharmaceutical ingredients by an enterprise located on the territory of the aggressor state.

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RADA REGISTERS BILL RESTRICTING IMPORT OF MEDICINES PRODUCED IN RUSSIA, BELARUS

The Verkhovna Rada has registered a draft law restricting the circulation of medicines produced in the Russian Federation or the Republic of Belarus.
Relevant bill No. 7313 of April 25, 2022, authored by a group of MPs of the Servant of the People faction, including head of the Committee on Public Health, Medical Assistance and Medical Insurance Mykhailo Radutsky, was registered in the Verkhovna Rada.
As reported, according to First Deputy Minister of Health Oleksandr Komarida, state registration in Ukraine of medicines (all or selectively determined by the Ministry of Health) of an applicant may be temporarily canceled (registration certificate terminated) if it is established that this applicant or his representative is directly or indirectly related to with business entities that are directly or indirectly involved in production of medicines on the territory of the aggressor state (the Russian Federation or the Republic of Belarus).
In addition, the registration of a drug may be canceled if, after February 23, 2022, the applicant participated in at least one of the stages of production of any medicinal product or active pharmaceutical ingredients by an enterprise located on the territory of the aggressor state.

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AMERICAN COMPANY UPS SUSPENDS WORK IN UKRAINE, BELARUS AND RUSSIA

The American postal service UPS has suspended its work in Ukraine.

As reported on its website, the decision was made “because of the situation in Ukraine.” Operations have also been halted in Belarus and Russia.

UPS provides mail service in 220 countries around the world.

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EU FREEZES ASSETS OF RUSSIA AND BELARUS FOR 29.5 BILLION EUROS

The EU authorities blocked the assets of 29.5 billion euros of individuals and organizations included in the sanctions lists for the Russian Federation and Belarus, according to a press release issued by the European Commission on Friday.
“More than half of EU Member States have reported asset freeze measures to the European Commission. They have reported a €29.5 billion asset freeze, including yachts, helicopters, real estate, and €6.7 billion worth of art,” the report reads. document.
It also refers to the blocking of relevant transactions in the amount of 196 billion euros.
The press release clarifies that such measures are being taken within the framework of the working group created by the EU in March to block the assets of sanctioned persons and structures. The European Commission recalled that on Friday the members of the group are meeting with representatives of the United States and Ukraine to discuss cooperation in this area and that such meetings will continue to be regular.

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BOARD OF GOVERNORS VOTE FOR FIRM ACTION AGAINST RUSSIA AND BELARUS

The European Bank for Reconstruction and Development is moving ahead with its plans to exclude the Russian Federation and Belarus from receiving funding for projects. The EBRD Board of Governors have approved taking firm action against the Russian Federation and Belarus following the invasion of Ukraine. Access by the Russian Federation and Belarus to the resources of the Bank is to be formally suspended with immediate effect. This means that there can be no new financing of projects or technical cooperation activities in either country. Furthermore, the Bank avails itself of all rights to suspend or cancel further disbursements of funding on existing projects.
The EBRD has announced already that it is in the process of closing its Resident Offices in both Moscow and Minsk.
The EBRD President, Odile Renaud-Basso, said: “It is sad that we have come to this point after so many years of cooperation and activity in both countries. However, the Russian-led war on Ukraine has left us no choice but to show our condemnation with more than just words. Actions are required, too, so that the two countries are in no doubt that we believe they have undermined the values which are important to us as an institution and to the international community.”
The EBRD is now focusing on delivering a €2 billion Resilience and Livelihoods Support Package for Ukraine and for other countries in the region directly impacted by the refugee crisis. The measures are designed to help companies and communities. Funding is being made available rapidly to enable Ukrainian firms to receive liquidity support, deferral of loans and trade finance. Where possible, businesses will be helped to relocate so that their operations can continue. Once conditions allow, the Bank has also pledged to take part in a reconstruction programme for Ukraine.
The EBRD is also ready to support all its countries of operations to deal with the consequences of the war and its economic impact.

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