Business news from Ukraine

Business news from Ukraine

Truss to announce London’s plans to allocate at least $2.6 bln in aid to Ukraine in 2023

British Prime Minister Liz Truss will announce during a trip to the United States this week that London intends to spend at least $2.6 billion to support Ukraine in 2023, the Financial Times reports.
On her first trip abroad as prime minister, Liz Truss will tell world leaders that Britain will spend same $2.6 billion in Ukraine next year as it did in 2022, or even more, the publication writes.
Truss is expected to speak at the UN General Assembly on Wednesday. The prime minister is also scheduled to hold talks with U.S. President Joe Biden and French President Emmanuel Macron.
Downing Street previously stated that the UK ranks second in the world in terms of military aid provided to Ukraine. In particular, the Financial Times reminds, London handed over hundreds of missiles, five air defense systems, 120 armored vehicles, tens of thousands of artillery shells to Kyiv. Also, since 2015, the British have trained 27,000 Ukrainian servicemen.

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Olena Zelenska and PM of Ukraine arrived in London for funeral of Elizabeth II

Prime Minister of Ukraine Denys Shmygal announced that he, together with the First Lady of Ukraine Olena Zelenska, arrived in London to pay respects to Queen Elizabeth II.

“At the invitation of the British side, we arrived in London today to pay respects to Her Majesty King Elizabeth II and express condolences on behalf of the President, Government and people of Ukraine. The Queen enjoyed great public and favor in the United Kingdom. She was also admired far beyond the Kingdom, including Ukraine,” Shmygal wrote on his Telegram channel on Sunday evening.

The Prime Minister also noted that Elizabeth II “was the head of state, who was one of the first to lend a helping hand when Ukraine was faced with a barbaric Russian invasion. States that are still doing everything possible to bring our victory closer.”

In addition, Shmyhal expressed gratitude to the government of the United Kingdom.

The state funeral of Queen Elizabeth II, who died on September 8, will be held on Monday in London.

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LONDON-LISTED FERREXPO UPS IRON ORE PELLET OUTPUT IN H1

Ferrexpo plc, whose main assets are Ukrainian iron ore producers Poltava and Yeristovo mining and processing plants, raised iron ore pellet production 4.6% year-on-year in H1, 2020, to 5.598 million tonnes, the company said in a press release.
Output of pellets with 65% Fe-content grew 7.1% year-on-year, to 5.5 million tonnes while output 62% Fe fell 54.4%, to 98,000 tonnes.
Ferrexpo did not produce pellets from third-party feedstock.
Pellet production rose 5.4% quarter-on-quarter in Q2, 2020, to 2.873 million tonnes, including 2.848 million tonnes of 65% Fe, up 7.4%, and 24,700 tonnes of 62% Fe, down 66.3%.
The company’s facilities “continue to operate with minimal impact on operations to date, and the company continues to closely monitor its workforce,” Ferrexpo said in a COVID-19 update. “The infection rate in the local communities surrounding the company’s operations remains low,” it said.
The London-listed Ferrexpo plc owns 100% of Ferrexpo AG, which owns 100% of each of Poltava Mining and Yeristovo Mining and 99.9% of Belanovo Mining. Ferrexpo’s main customers are steelmakers in Austria, Germany, Japan, South Korea, Taiwan, China, Slovakia, the Czech Republic, Turkey, Vietnam and the United States. Pellet production grew 0.8% to 10.519 million tonnes on 2019.

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