Business news from Ukraine

Business news from Ukraine

Cabinet of Ministers of Ukraine proposes to confiscate more than 900 objects belonging to Russian Federation

The Cabinet of Ministers of Ukraine has approved a draft presidential decree on the confiscation of 903 objects that belong to the Russian state, Prime Minister Denys Shmygal said.
“As promised, we are taking Russian assets for the benefit of Ukraine and the Ukrainian people. We are doing this systematically in accordance with all procedures. We do not replace the law with our desire, but we are implementing this strategic task in a legal way. The confiscated assets are converted into funds used for our defense and restoration,” Shmyhal said at a government meeting on Friday.
According to the prime minister, the government has decided to confiscate Russian property and assets in Ukraine. In particular, a draft presidential decree was approved, which proposes the confiscation of 903 objects that belong to the Russian state.
According to Shmyhal, 79 items are corporate rights, 824 items are property.
“The list of objects has been formed: these are hundreds of buildings, corporate rights, land plots and financial assets. All property is divided into three categories: the first is property that belongs to the Russian state, the second is assets that belong to sanctioned citizens and companies from Russia, the third are the assets of Russian banks,” he added.
The Prime Minister stressed that such a decision is the first step, followed by the confiscation of Russia’s assets in the West.

, , ,

Ukraine, Turkey and the Russian Federation agreed on a 120-day grain export from the ports of Odessa, Chornomorsk and Pivdenny

Ukraine, Turkey and Russia, with the support of UN Secretary General António Guteres, agreed to facilitate safe shipping for the export of grain, related food products and fertilizers (including ammonia) from the seaports of Odessa, Chornomorsk and Pivdenny within 120 days from the possibility of extending this period.
The corresponding signing of documents within the framework of the initiative for the safe transportation of grain and food from Ukrainian ports took place in Istanbul on Friday: the Minister of Infrastructure of Ukraine Oleksandr Kubrakov, in the presence of Turkish President Recep Tayyip Erdogan, signed a tripartite document with Turkish Defense Minister Hulusi Akar and the UN Secretary General, who also signed a second such a tripartite document with Russian Defense Minister Sergei Shoigu.
As noted in the text of the initiative, a copy of which is available to the Interfax-Ukraine agency, it is based on agreements between the parties to the 1974 international convention on the safety of life at sea.
In particular, the parties agree on the following:
– maximum security guarantees for all vessels participating in this initiative;
– creation under the auspices of the UN in Istanbul of a joint coordination center (JCC), which includes representatives of all parties;
– Creation and work on the ships participating in the initiative of inspection teams from representatives of the parties, which will inspect the ships in the ports designated by Turkey, when entering / leaving the Turkish Strait to check the absence of unauthorized cargo and personnel on board.
At the same time, all activities in Ukrainian territorial waters will be under the control and responsibility of Ukraine.
The parties will not launch any attacks on merchant and civilian vessels, as well as on port facilities participating in this initiative.
If clearance of approaches to ports is required, a minesweeper from a third country must be involved
Merchant vessels must be pre-registered with the SKC and will be under technical control for the duration of their passage through the maritime humanitarian corridor agreed by all parties.
The RCC will develop and disseminate a detailed operational and communications plan, including the identification of safe havens and medical assistance options along the route.
In order to prevent provocations and incidents, the movement of vessels transiting the maritime humanitarian corridor will be remotely controlled by the Parties.
“No warships, aircraft, unmanned aerial vehicles (UAVs) can approach the maritime humanitarian corridor closer than the distance agreed by the RCC without the permission of the RCC and only after consultation with all Parties,” the text of the initiative emphasizes.
This initiative will be valid for 120 days from the date of signing by all Parties and may be automatically renewed for the same period, unless one of the Parties notifies the other of its intention to terminate the initiative or change it.
At the same time, the achievement of an agreement on the export of Ukrainian grain does not mean a weakening of the security regime in the Black Sea, representatives of Ukraine have repeatedly emphasized.

, , , , , , , ,

EC PREPARING NEXT WAVE OF SANCTIONS RUSSIAN FEDERATION

The EU is preparing the next wave of sanctions against the Russian Federation, President of the European Commission Ursula von der Leyen has said.
“We can never match the sacrifice of the Ukrainian people, never can we match that, but we are mobilizing our economic power to make Putin pay a very, very heavy price. We have as you said imposed five waves of unprecedented sanctions against Russia and we are already preparing the next wave,” von der Leyen said at a press conference with Ukrainian President Volodymyr Zelensky in Kyiv on Friday.

, ,

UKRAINE EXPANDS LIST OF BANNED GOODS FROM RUSSIAN FEDERATION

The Cabinet of Ministers of Ukraine has expanded a list of goods from the Russian Federation on which embargo is imposed from July 1, 2019, including raw materials for cement (clinkers) and all kinds of ready cement, mineral (nitrogenous, potassium, phosphorous) fertilizers, foodstuff for animals and veterinary medicines.
The document adopted on May 15, 2019, which was posted on the government’s website, also includes matches, plywood products, wallpaper, light industry products, in particular some types of knitwear and footwear, carbon steel wires, metal wires, pipes, tubes, metal nets, fasteners, steel utensils, equipment for the production of bakery products, and vehicles (cars, motorcycles, tractors, etc.).
In addition, ban on import of used railway cars and trams will be imposed from March 1, 2020.

, , ,