Business news from Ukraine

THE FIFTH PACKAGE OF EU SANCTIONS INCLUDES BAN ON IMPORT OF RUSSIAN COAL AND ON TRANSACTIONS WITH 4 BANKS

The President of the European Commission (EC), Ursula von der Leyen, announced on Tuesday proposals for new sanctions of the EU’s fifth package against Russia.
“The ban on coal imports from Russia worth 4 billion euros per year, which cuts another important source of income for Russia. A complete ban on transactions with four key Russian banks, including VTB, the second largest Russian bank,” the report said. statement of the head of the EC, published on Twitter.

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MAIN TRADE PARTNERS OF UKRAINE IN % FROM TOTAL VOLUME (IMPORT FROM OTHER COUNTRIES TO UKRAINE) IN 2021

Main trade partners of Ukraine in % from total volume (import from other countries to Ukraine) in 2021

SSC of Ukraine

MINISTRY OF ECONOMY NOTES HUGE DECLINE IN EXPORTS OF UKRAINIAN GOODS AND IMPORTS IN MARCH DUE TO WAR

Ukraine in March 2022 exported 5.97 million tons of goods worth $2.7 billion, which is 2.2 times less than in February in terms of quantity and half in value, while imports of goods to Ukraine in March amounted to 5 million tons $5.9 billion, which is more than three times less than in February. “Ukraine’s export volume in March amounted to 5.97 million tons worth $2.7 billion. While in February, the state exported 13.1 million tons of goods worth $5.3 billion. The main export items are ores, corn, ferroalloys and oil “, the Ministry of Economy said in a release on Sunday. The export of metals and agricultural products was particularly affected, however, the volume of exports of a number of goods with deep processing remained practically unchanged compared to the pre-war period, the Ministry of Economy added. The Ministry notes a significant reduction in metal exports. In particular, the export of flat products fell by almost 10 times – from 437 thousand tons in February to 47 thousand tons in March. “For some metallurgy positions, exports were not made at all. This is primarily due to the physical destruction of metallurgical facilities and the stoppage of production,” the ministry commented. In March, Ukraine exported 1.1 million tons of corn, 309 thousand tons of wheat, 118 thousand tons of sunflower oil, 40 thousand tons of soybeans. This is four times less than in February, according to the data of the Ministry of Economy. “At the same time, for many items of goods with deep processing, the volume of exports remained at the level of the previous month and even increased. These are, for example, cable products, the export of which amounted to $111 million ($130 million in February) or wood facing sheets – $32 million against $26 million in February,” the Economy Ministry said. Due to the Russian invasion, Ukrainian imports suffered significant losses: if in February the state imported 5 million tons of goods worth $5.9 billion, then in March – 1.6 million tons worth $1.8 billion, the report says. Currently, the most important imports to Ukraine are gas, oil, oil products and coal. “The enemy is deliberately undermining the economy of our state by blocking domestic exports. The traditional route for the export of export goods was the Black Sea ports, blocked today by Russia. In addition, the occupiers are attacking metallurgical enterprises and agricultural infrastructure in order to prevent the restoration of our capabilities in the future. All this threatens not only Ukraine, but also the whole world, because our state was the guarantor of food security in a number of countries in Africa and the Middle East,” the press service of the Ministry of the First Vice Prime Minister of Ukraine – Minister of Economy of Ukraine Yulia Sviridenko quotes. To counter this, Ukraine is increasing the capacity of rail, road and river transport on the western border of Ukraine, attracting manufacturers, traders, transport companies, Sviridenko noted. “The remnants of basic agricultural crops in Ukraine are enough to ensure exports. In addition, the start of the sowing campaign inspires restrained optimism for the future harvest,” the head of the ministry said.

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STRUCTURE OF IMPORT OF SERVICES IN UKRAINE IN 2021

Structure of import of services in Ukraine in 2021

SSC of Ukraine

YOGHURT, MINERAL WATER, RAW TOBACCO, SALT, DOORS, WINDOWS AND THEIR FRAMES, COTTON WOOL, SOCKS AND BRAS, BAGS ARE NEW ITEMS OF CRITICAL IMPORT

Yoghurt, kefir, mineral water, raw tobacco, salt, hydrogen, photographic plates and film, doors, windows and their frames, cigarette paper, cotton wool, tights, socks and bras, bags and packaging bags are new items included in the list goods of critical import of Ukraine.
According to government resolution No. 266 of March 13, which was published on its website, the list is also replenished with glass and mirrors, silver, various types of metal products, aluminum metal structures, pumps, printed circuits, trailers and semi-trailers.
As reported, after the start of Russia’s military aggression on February 24, the government on the same day by resolution No. 153 determined a list of critical import goods, for the purchase of which the National Bank of Ukraine allows buying foreign currency. This is the tenth expansion of this list since it was originally approved.

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EXPERT: UKRAINE SHOULD ALLOW IMPORT, SALE OF FUEL OF EURO-4 QUALITY

During the period of Russian military aggression, Ukraine should allow the import and sale of fuel of the Euro-4 ecological standard, director of the A-95 consulting group Serhiy Kuyun said.
“It is necessary to temporarily allow the use of fuel of Euro-4 standards. The equipment of the Armed Forces of Ukraine will not notice this at all. Tanks, ZILs, diesel locomotives and others will go easily – this equipment is not new for the most part,” he wrote on his Facebook page.
“Civilian transport will also survive. Strict European fuel requirements are mainly for environmental purposes. Now there are much more serious threats to our life and health than the exhaust in traffic jams from refugees’ cars,” Kuyun said.
According to him, there are interesting price offers for Euro-4 on the foreign market, which will increase the filling of the Ukrainian market with fuel.

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