Business news from Ukraine

Business news from Ukraine

European Commission to allocate more than 13 billion euros to support researchers and innovators in Europe

The European Commission (EC) approved on Tuesday the Horizon Europe work program for 2023-2024 to allocate about 13.5 billion euros to support researchers and innovators in Europe.
It is about finding “breakthrough solutions to environmental, energy, digital and geopolitical problems.”
“As part of the broader €95.5 billion EU Horizon Europe research and innovation program, funding for 2023-2024 will support the EU in achieving its climate goals, building resilience and developing basic digital technologies,” the European Commission said in a communiqué published in Brussels.
The document said it would also “consider targeted actions to support Ukraine, build economic resilience and promote sustainable recovery from the COVID-19 pandemic.”
Brussels explained that the targeted assistance to Ukraine is in addition to the 70 million euros earmarked for special measures already initiated in 2022. The additional support foresees the enhancement of access of Ukrainian scientists to European research infrastructures, continuation of the assistance to Ukrainian medical scientists, assistance in the struggle against climate change and assistance in reconstruction of several Ukrainian cities with the participation of the EU mission on climate-neutral and “smart” cities.
The EC communiqué also notes that over 42% of the 2023-2024 work program budget, or €5.67 billion, is earmarked for climate change and digital transformation projects. Some 970 million euros will be invested “to accelerate the transition to clean energy in line with the European REPowerEU plan and increase Europe’s energy independence.

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European Commission proposes new development strategy for drone market

The European Commission (EC) on Tuesday proposed a new strategy for the further development of the European drone market.
“The new strategy explains how Europe can carry out large-scale commercial drone operations while offering new opportunities in the sector,” according to an EC communiqué published in Brussels.
The document notes that “thanks to the EU’s comprehensive regulatory framework, drones have been flying safely in European skies for hundreds of thousands of hours, for example to survey infrastructure, monitor oil spills or take soil samples.
The EU has also been successful in developing projects to use drones in medicine, such as transporting medical samples between health services.
Brussels has announced that the introduction in January 2023 of “the world’s only European U-space secure drone traffic control system” will lay the groundwork for expanding the types of operations that use them.
But before promoting these innovative technologies, the European Commission wants to make sure that society supports this type of air transport, the EC document said. Therefore, the new strategy calls on national, regional and local municipalities to ensure that drone services meet the needs of citizens, including addressing issues such as noise, safety and privacy in the use of the machines.
The strategy foresees that by 2030 the following drone services will be an integral part of European life: emergency services, mapping, imaging, inspection and surveillance by civilian drones within the scope of current legislation, and the delivery of small consignments of urgent supplies such as biological samples or medicines.
The strategy looks ahead to innovative aerial mobility services such as air cabs, which provide regular passenger transportation, initially with a pilot on board, but with the ultimate goal of fully automated operations, according to an EC communiqué.

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European Commission will announce measures to solve problems in energy sector today

Member of the European Commission (EC) for Energy Kadri Simson said that on Wednesday, September 14, the EC proposal to address a number of problems that have arisen in the EU energy market will be made public.
“Tomorrow we will submit a proposal that aims to eliminate these problems,” the European Commissioner said on Tuesday, speaking at the plenary session of the European Parliament in Strasbourg.
Among the measures, she, in particular, named a reduction in demand for electricity, limiting the income of energy companies that produce electricity at low costs, contributions from companies that receive excess profits for the production of gas, oil and coal.
Referring to Russian gas imports, Simson noted that a “ceiling” on Russian gas would solve the problem of price speculation. However, more work is needed to assess the risk of a possible negative impact of such a measure on some EU Member States. In addition, the European Commission will continue to analyze how a price cap on all gas imports could function and what the consequences would be.

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UKRAINE REMAINS IN SPOTLIGHT OF G7 – HEAD OF EUROPEAN COMMISSION AND BRITISH PM

British Prime Minister Boris Johnson calls on the G7 countries, whose leaders start a three-day summit near Munich on Sunday, to continue supporting Ukraine in the fight against Russian armed aggression.
“Now is not the time to give up on Ukraine, they need the support and determination of the G7 more than ever,” he tweeted.
“The UK will continue to stand by Ukraine at every turn because we know their security is our security and their freedom is our freedom,” Johnson said.
The negative global impact of Russia’s war will be at the center of discussions at the G7 summit in Germany, European Commission President Ursula von der Leyen said on Sunday.
“We will stand with Ukraine for as long as it takes,” she tweeted.
Other highlights of the summit, she said, include security of energy supplies and global food security, investment in resilient infrastructure and global pandemic preparedness.
“We will also discuss how we can best deal with price increases without compromising our climate goals,” the Commission President added.

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EU LEADERS URGED EUROPEAN COMMISSION TO QUICKLY GIVE PROPOSALS FOR SUPPORT IN RESTORATION OF UKRAINE

The leaders of the European Union called on the European Commission to promptly present its proposals for EU support for Ukraine in the reconstruction of the country after the war waged against it by Russia.

The conclusions, adopted at the European Council meeting on Thursday in Brussels, noted that the European Commission “soon will submit a proposal to provide Ukraine with a new exceptional macro-financial assistance of up to 9 billion euros in 2022.”

“The European Council calls on the Commission to promptly present its proposals for EU support for the reconstruction of Ukraine, in consultation with international partners, organizations and experts,” the document reads.

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ACCORDING TO EUROPEAN COMMISSION, UKRAINE NEEDS MORE REFORMS TO IMPROVE COMPLIANCE WITH FATF STANDARDS

Ukraine’s anti-money laundering legislation partially complies with the standards of the Financial Action Task Force (FATF) and international legislation, but the recommendations of the Council of Europe’s Committee of Experts on the Evaluation of Money Laundering Measures (Moneyval) still remain unfulfilled , says the European Commission.
“Further reforms are needed to improve Ukraine’s compliance with FATF standards, in particular those relating to virtual assets, ultimate beneficial ownership and supervision of non-banking enterprises and transactions,” the European Commission’s Opinion on Ukraine’s application for membership in the European Union states.
It states that for these reasons, Ukraine is still reporting to Moneyval in accordance with the enhanced control procedure.
The European Commission also pointed to the need for more progress in investigating and prosecuting major money laundering schemes.
“Establishing a comprehensive framework for combating financial crime and money laundering and ensuring its effective implementation is critical to addressing the significant risks they pose,” the Opinion notes.
With regard to the established National Agency of Ukraine for the identification, search and management of assets obtained from corruption and other crimes (ARMA), it is indicated that since the end of 2019 it has not had a permanent head.
“Legislation regarding the management of seized assets should be improved and an appropriate national strategy for the return of assets should be adopted,” the European Commission believes.

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