Business news from Ukraine

UKRAINE PROPOSES EUROPEAN COMMISSION TO COMPLETELY BLOCK TRANSPORT LINKS WITH RUSSIA AND BELARUS

The Ministry of Infrastructure of Ukraine has sent an official appeal to the European Commission with proposals to increase economic pressure on the Russian Federation and the Republic of Belarus.
“Despite the already introduced restrictive measures, Russian business finds workarounds and continues to conduct operations in other countries. Accordingly, the existing sanctions do not fully achieve their goal,” the ministry said on its website on Tuesday.
In this regard, the Infrastructure Ministry proposes to the European Union: completely block land and sea transport links with Russia and Belarus; block the possibility of transporting goods and people to Russia and Belarus through the territory of the European Union and across its borders; prohibit the provision of customs services for goods delivered to Russia and Belarus.
“In particular, these measures are necessary to stop the supply of dual-use goods to the aggressor country that can be used for military needs,” the ministry said.

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ERDOGAN HOPES TO ARRANGE MEETING BETWEEN PRESIDENTS OF RUSSIA, UKRAINE AFTER UKRAINIAN-RUSSIAN TALKS IN ISTANBUL

Turkish President Recep Tayyip Erdogan, speaking before the start of talks between Russia and Ukraine in Istanbul, expressed hope that they would facilitate a personal meeting between the Russian and Ukrainian presidents.

“The progress made in these talks will allow the leaders of Russia and Ukraine to negotiate in person,” Erdogan was quoted as saying by Daily Sabah.

He noted that Turkey is also ready to host such talks between the two leaders on its territory.

Erdogan indicated that Turkey is “deeply concerned” about the situation around Ukraine and calls for a ceasefire.

“The negotiation process between Russia and Ukraine has raised hopes for peace. Ensuring a ceasefire as soon as possible would be beneficial to all parties,” the Turkish president said.

“We hope that the meetings [in Istanbul] will benefit both sides and the region,” he said.

“I think it is possible to come to an agreement that will suit both sides and the world community,” he stressed. Erdogan noted that a “permanent, fair, practical solution is required.”

Erdogan also stressed that Turkey is ready to perform mediation functions for as long as necessary. “We are ready to help the peace process as much as you need,” he said, addressing the Russian and Ukrainian delegations.

Negotiations between the Russian and Ukrainian delegations began in Istanbul on Tuesday morning, they are taking place in the Dolmabahce Palace.

As the President’s Office told Interfax-Ukraine, the Ukrainian delegation included leader of the Servant of the People faction in the parliament David Arakhamia, Minister of Defense of Ukraine Oleksiy Reznikov, MPs Andriy Kostin and Rustem Umerov, adviser to the head of the President’s Office Mykhailo Podoliak, deputy Minister of Foreign Affairs Mykola Tochytsky, and Deputy Head of the President’s Office Kyrylo Tymoshenko.

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TURKISH PRESIDENT ERDOGAN: TURKEY CONTINUES CONTACTS WITH BOTH UKRAINE AND RUSSIA

Turkey continues to maintain contacts with both Ukraine and Russia, and the primary task of its diplomacy is to achieve a settlement of the situation, the Anadolu agency quoted Turkish President Recep Tayyip Erdogan as saying.
“We maintain diplomatic contacts with both sides, discuss all proposals and support all initiatives aimed at establishing peace,” he said at a press conference following the NATO summit in Brussels.
Erdogan noted that Turkey maintains special relations with both countries.
“For this reason, the first task of Turkish diplomacy is to stop hostilities. Peace in Ukraine must be ensured according to a formula that will suit the two countries and the world community. It must be a stable and strong peace,” the Turkish President added.

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SHARP SUSPENDS SHIPMENTS TO RUSSIA DUE TO SITUATION IN UKRAINE

Sharp Group is suspending shipments to Russia due to the situation in Ukraine, the Japanese electronics manufacturer said.
“Sharp Group is currently suspending shipping into Russia with the conflict’s impact. We will continue to monitor the situation carefully and make adequate measures based on the spirit of our Sharp Group Charter of Corporate Behavior,” the company said.
A day earlier, Japanese information technology company NEC also announced that it has suspended new sales of products and services, as well as investment in Russia.
Japan, along with a number of other countries, imposed sanctions against Russia over the events in Ukraine, after which a number of Japanese companies announced the suspension of shipments to and production in Russia, including due to logistics problems. They include Panasonic, Hitachi, Yamaha Motor Co., Tadano Ltd. and Komatsu Ltd.

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UNITED STATES COULD BROADEN SANCTIONS AGAINST RUSSIA

The United States may further expand sanctions against Russia, U.S. Deputy National Security Adviser for International Economics Daleep Singh said in an interview with CBS News.

“We can broaden our sanctions. So – take the measures, take the sanctions we’ve already applied, apply them in more targets. Apply them to more sectors. More banks, more sectors that we haven’t touched,” Singh said.

According to him, the sanctions may affect “the commanding heights of the Russian economy.” “It’s mostly about oil and gas, but there are other sectors too,” he said.

Speaking about the possibility of lifting sanctions against Russia, Singh stressed that “we’re nowhere near that point.”

He believes that “the first thing he has to do is to stop – a reckless and barbaric attack on the civilians of Ukraine. That’s not happening.”

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WASHINGTON HOPES THAT CHINA TO INFLUENCE RUSSIA TO SOLVE SITUATION WITH UKRAINE

Washington hopes that China will exert the necessary influence on the Russian Federation in connection with the events in Ukraine, U.S. Secretary of State Antony Blinken said on Thursday.
“We believe China in particular has a responsibility to use its influence with President Putin and to defend the international rules and principles that it professes to support,” he said.
At the same time, Blinken recalled that the events in Ukraine will be one of the topics of a telephone conversation scheduled for Friday between U.S. President Joe Biden and Chinese President Xi Jinping.
“President Biden will be speaking to President Xi tomorrow and will make clear that China will bear responsibility for any actions it takes to support Russia’s aggression, and we will not hesitate to impose costs,” Blinken said.
Later, White House spokeswoman Jen Psaki said that the conversation between Biden and Xi Jinping would clarify China’s attitude towards the situation in Ukraine.
“This is an opportunity for President Biden to assess where President Xi stands,” she said.

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