Business news from Ukraine

Bulgaria, Hungary and Slovakia have received right to export to Ukraine oil products from Russian oil

The ninth package of EU sanctions against Russia adopted on Friday allows Bulgaria, Hungary and Slovakia, which received a reprieve from the European Union’s oil embargo on Russian oil, to export oil products produced from it to Ukraine.
The EU Council resolution published in the EU Official Journal on December 16 says the decision “allows Hungary, Slovakia and Bulgaria to export to Ukraine certain refined products derived from Russian crude oil imported on the basis of the considered derogations (from the embargo – IF), including, if necessary, by transit through other member states.”
Another paragraph of the ruling allows Bulgaria to “export to third countries certain petroleum products derived from Russian crude oil imported on the basis of the derogations under consideration.
The publication attributes this to the need to “reduce environmental and safety risks, as such products cannot be safely stored in Bulgaria.
The document specifies that the respective annual exports should not exceed the average annual volume of exports of such products for the last five years.

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PM Orbán: Hungary ready to provide financial aid to Ukraine on bilateral basis

Hungarian Prime Minister Viktor Orbán said Hungary did not veto EU macro-financial assistance to Ukraine and that Budapest is ready to provide financial assistance to Ukraine on a bilateral basis.
“Today’s news was all about Hungary vetoing financial assistance to Ukraine. This is fake news. Hungary is ready to provide financial assistance to Ukraine on a bilateral basis. No veto, no blackmailing,” he said in Twitter.
At the same time, Orbán said “we do want to convince the EU member states that common EU debt is not the solution.”
“We envision a different future for Europe. One built on strong member states, instead of huge piles of common debt,” he said.

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Hungary has blocked allocation of EUR18bn to Ukraine from EU, search for solution will continue

Hungarian Finance Minister Mihai Varga on behalf of the country spoke out against the adoption of legislative amendments by the European Council that would allow Ukraine to allocate EUR 18bn in macrofinancial aid plus in 2023.
Nevertheless, the EU will continue to seek a solution that would be supported by all member states.
“Hungary opposes the amendment of the financial legislation,” he said Tuesday in Brussels on the sidelines of the open part of the Economic and Financial Affairs Council.
In particular, Hungary opposed the amendment to the multiyear financial legislation, which must be passed unanimously.
At the same time, ministers voted by qualified majority macro-financial assistance plus (MFA+) and an amendment to the financial regulations.
Czech Finance Minister Zbigniew Stanjura, who chaired the meeting, commenting on the situation, said: “Unfortunately, we were not able to pass the package as a whole. Nevertheless, this will not cool down our ambitions to start allocating our aid to Ukraine from the beginning of January. I ask the Economic and Financial Committee to find an alternative solution. That means that we will have to find a solution that all countries will support. We will find a solution to support Ukraine.

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Hungary will allocate funds for transportation of food products within “Grain from Ukraine” initiative

Hungary will allocate funds for the transportation of food products from Ukraine within the “Grain from Ukraine” initiative, as well as provide logistical support, said the President of Hungary Katalin Novak.
“We support Ukraine at the bilateral level. We have allocated more than 172 million euros, and today Hungary has committed to provide $3.5 million to ensure the transportation of 10 thousand tons of wheat and food products,” – said Novak at the summit on food security.
She also called for the use of the Ukrainian-Hungarian border as an additional food transportation channel.
“We support not only financially, we also support logistically. Our special terminal on the border between Hungary and Ukraine should increase and speed up the transportation of necessary goods,” the president said.
“And, of course, this is all happening because of the war in Ukraine. And democratic channels must be restored. In the end, there must be a just peace, a peace for all of us,” she stressed.

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More than EUR66 million allocated for cross-border cooperation of Hungary, Slovakia, Romania and Ukraine

More than EUR66 million will be allocated under the first Interreg NEXT European cross-border cooperation program for Hungary, Slovakia and Romania’s partnership with Ukraine in health, environment and good governance, the European Commission (EC) announced Friday. “This program is part of the EU’s overall support and unwavering solidarity toward Ukraine. By implementing a cohesion policy, Interreg will help Ukraine and its bordering member states to face common challenges and seize joint opportunities,” said Elisa Ferreira, EC member for cohesion policy and reforms.
The program covers the period of 2021-2027. Hungary, Slovakia, Romania and Ukraine are expected to work together to ensure equal access to health services and improve the sustainability of their health systems.
The program will support climate change adaptation and disaster risk prevention solutions. The participating countries will cooperate to protect nature, develop “green infrastructure” and tourism.
It is also a question of aligning Ukraine’s norms with EU member states in the area of effective public administration. Relevant projects will promote legal and administrative cooperation to remove common barriers to interaction in border areas, while supporting cooperation between citizens, civil societies and state institutions, according to a communiqué from the European Commission.

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Tomorrow, from 9:00 to 12:00, Dzvonkovoe customs post on border with Hungary will not work

On Wednesday morning, the Dzvonkovoe customs post on the Ukrainian-Hungarian border will temporarily stop working, the State Border Guard Service of Ukraine reports.

“Tomorrow, from 9:00 to 12:00, the Dzvonkovoe customs post will not operate due to installation work. Plan your route in advance,” the message on the Telegram channel says.

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