Business news from Ukraine

Business news from Ukraine

Saudi Arabia launches project on prosthetic limbs for Ukrainians

Ambassador of Saudi Arabia to Ukraine Mohammed bin Abdulaziz Al-Baraka launched the fifth stage of the project of prosthetic limbs for Ukrainians in Poland, implemented by the King Salman Center for Humanitarian Aid and Support from July 14 to 21, 2025. Ambassador of Ukraine to Poland Vasyl Bodnar took part in the project.

This project is a continuation of the humanitarian aid provided by the Kingdom of Saudi Arabia to Ukraine, which included food, medicines and power generators. The aim of the project is to provide prosthetic limbs to those who lost them as a result of the war, which will help improve their quality of life and restore mobility.

The project embodies the Kingdom of Saudi Arabia’s commitment to alleviate the suffering of Ukrainian citizens in the ongoing war in Ukraine and is a continuation of its efforts to mitigate the humanitarian consequences.

The most important goals of the Saudi project are to provide medical assistance to Ukrainian disabled people in Poland. At this stage, prosthetic limbs were fitted to 20 beneficiaries, and the necessary measurements of the limbs for the next stage were taken. Their condition was also monitored, and post-prosthetic rehabilitation and medical education of Ukrainian beneficiaries was conducted.

The Saudi Humanitarian Support Program for Ukraine launched its first phase of the prosthetics project in September 2024. The current stage is the fifth within the framework of this project. Two more stages will be implemented by the end of 2025.

During the previous stages, 115 prosthetic limbs were provided with the participation of 43 qualified medical volunteers. The current stage is being implemented with the participation of seven volunteers. The goal of the project is to fit a total of 137 prostheses, bringing the average number of prostheses fitted per campaign to 30. The project uses the latest Direct Socket prosthetic technology.

The expected cost of all stages of the Saudi humanitarian project to provide prosthetics to Ukrainians, implemented and planned for implementation this year, is USD 3,481,674.67. This project is part of the humanitarian assistance provided by the Kingdom of Saudi Arabia to alleviate the suffering of amputees around the world, empower them and improve the quality of life in the affected areas of the world.

It should be noted that during the visit of Prince Faisal bin Farhan Al Saud to Kyiv in February 2023, Saudi Arabia announced various humanitarian aid packages to Ukraine in the amount of USD 410 million.

Source: arab.com.ua/ukr/news/saudivska-araviya-zapuskae-p-yatiy-paket-1752857775.html

 

,

Qatar, Saudi Arabia, and UAE have closed their airspace to civilian aircraft

Due to the escalation of the conflict in the Middle East, particularly following US strikes on Iranian targets, the authorities of Qatar, Saudi Arabia, and the UAE have temporarily closed their airspace to civilian aircraft. This has led to widespread flight cancellations and diversions by major international airlines.

Qatar closed its airspace on June 23. About 100 flights to Hamad Airport (Doha) were rerouted via Saudi Arabia and Egypt, which lengthened flight times and increased fuel consumption and operating costs.
The UAE (Dubai and Abu Dhabi) also suspended the arrival and departure of all civilian aircraft, which are forced to turn back before entering the country’s airspace.

The states took preventive measures due to the threat of strikes against American and Western targets in the region. International airlines — Singapore Airlines, British Airways, Air France-KLM, American Airlines, United Airlines, and Air Canada — have suspended or changed their routes to these destinations. Flight routes are now being rerouted via the Caspian Sea and Egypt, which will significantly lengthen flights and increase their cost.

The US Air Force is expected to be active in the skies over the Persian Gulf. US military aircraft will participate in repelling Iranian strikes on American bases and allied facilities in the region. No official announcement has been made yet on how many flights have been canceled, but the situation has already caused serious disruptions to air traffic. For passengers, this means delays, ticket cancellations, and longer routes. The aviation industry is preparing for higher costs and fewer flights through one of the world’s key transit hubs.

, ,

Saudi Arabia plans to sharply cut oil prices for Asia

In May, Saudi Arabia will reduce prices for all grades of oil for Asian buyers by $2.3 per barrel – the maximum since October 2022.

As a result, the main grade supplied to Asia – Arab Light – will fall to its lowest price in 4 months. It will cost $1.2 more than the Oman/Dubai oil basket, state-owned Saudi Aramco said in a statement. Prices for all oil grades for the U.S. will be reduced by $0.2 per barrel, for buyers from Northwest Europe and the Mediterranean – by $0.5 per barrel.

, ,

Zelensky will visit Saudi Arabia on Monday

Ukrainian President Volodymyr Zelensky said he will visit Saudi Arabia on Monday, but Andriy Yermak, Andriy Sibiga, Rustem Umerov and Pavlo Palisa will meet with U.S. negotiators.
“I will start next week with a visit to Saudi Arabia, and after my meeting on Monday with the Crown Prince, Ukrainian diplomatic and military representatives will stay for a meeting on Tuesday with the American team. The Ukrainian team will consist of Andriy Yermak, Andriy Sibiga, Rustem Umerov and Pavel Palisa,” the president wrote on the X network on Saturday.
Zelensky also said that the diplomatic teams of Ukraine and Britain met in Kiev on Saturday.
“Very productive. Discussed our joint steps that can bring peace closer and accelerate diplomatic work. Grateful for the support. Ukraine is determined to do everything as soon as possible so that it is possible to end this war with a decent and lasting peace,” the president said.
Regarding the negotiations between the Ukrainian and American teams, Zelensky emphasized: “From our side there will be a clear mood for constructive, and we hope that it will be possible to discuss and agree on the necessary solutions and steps. Ukraine has been striving for peace since the first second of this war. There are absolutely realistic proposals on the table. The main thing is to move quickly and efficiently.”
Earlier, US President Donald Trump’s Middle East envoy Steve Whitkoff said that talks between Ukraine and the US would be held in Riyadh or Jeddah in Saudi Arabia on March 11. The kingdom’s Foreign Ministry clarified later that a meeting between representatives of the US and Ukraine on the possibility of ending the war between Ukraine and Russian Federation in will be held next week in Jeddah

 

 

,

Saudi Arabia wants to expand agricultural cooperation with Ukraine

Saudi Arabia is interested in developing cooperation with Ukraine in the agricultural sector, according to Minister of Agrarian Policy and Food Vitaliy Koval, who is on a working visit to the country as part of a Ukrainian government delegation.

According to the Ministry of Agrarian Policy and Food on its website, representatives of the Ukrainian delegation held a meeting with Saudi businessmen, which was attended by more than 80 representatives of various business sectors interested in cooperation with Ukraine.

“I thanked them for their support of our country and for believing in its future despite everything. For example, Continental Farmers Group is a company with Saudi capital that already cultivates 200 thousand hectares of Ukrainian land. They are one of the top 10 largest taxpayers in the agricultural sector, having paid more than UAH 1.6 billion in taxes at various levels last year. And they are planning to expand their capacities. In particular, they plan to grow grain and potatoes in the western regions,” the Minister said.

Another example, according to him, is the Saudi company SALIC, which invested in one of the largest Ukrainian agricultural holdings, MHP, acquiring 12.6% of their shares. In particular, the Minister discussed possible expansion of cooperation with the CEO of SALIC.

“I am pleased that the Saudi side sees the prospects for development in Ukraine. We discussed with them the possibility of cooperation in growing crops, veterinary medicine, and feed production. The business also expressed interest in jointly developing beef cattle breeding and organic products. We will continue to work,” the minister summarized.

,

Ukraine presents projects worth $0.5 bln in Saudi Arabia

The Ukrainian government delegation to Saudi Arabia is preparing for President Volodymyr Zelenskyy’s visit to the country, particularly in the economic sphere, with large-scale public-private partnership projects and “attractive privatization opportunities worth half a billion dollars” already presented, First Deputy Prime Minister and Minister of Economy Yulia Svyrydenko said.

“We started the working visit of the Ukrainian government delegation to Saudi Arabia with a meeting with almost a hundred local entrepreneurs (…) We presented projects in energy, agriculture, and infrastructure. As well as large-scale public-private partnership projects and attractive privatization opportunities totaling half a billion dollars in investment,” she wrote on her Facebook page on Sunday.

According to her, “dozens of meetings will be held in the coming days to prepare President Volodymyr Zelenskyy’s visit to Saudi Arabia.” In particular, important economic agreements with the countries of the region are being prepared for signing.

According to her, “dozens of meetings will be held in the coming days to prepare President Volodymyr Zelenskyy’s visit to Saudi Arabia.” In particular, important economic agreements with the countries of the region are being prepared for signing.

Svyrydenko noted that Saudi Arabia is now actively supporting Ukraine. They have allocated $500 million to support Ukraine’s recovery. “Now we can illustrate the call to invest in Ukraine without waiting for the end of the war with very specific businesses from Saudi Arabia. For example, FAS Energy, which invested in renewable energy in Ukraine. Or SALIC, which last year in September became a co-owner of one of the largest Ukrainian agricultural holdings, MHP, acquiring a 12.6% stake in the company. I am immensely grateful to all those companies that show leadership and that it is possible and necessary to invest in Ukraine now,” Svyrydenko said.

“I am convinced that we have prospects for even more active attraction of investments from the Middle East. Today, we have seen significant interest primarily in infrastructure projects, energy projects, proposals in the field of innovation, agribusiness, especially fertilizer production, where Saudi Arabia has expertise,” the Deputy Prime Minister added.

According to her, exports to Saudi Arabia increased from $291 million in 2023 to $368 million in 2024. “And we expect growth this year as well. We have not yet reached pre-war levels, but I hope we can achieve this, and such business forums will be worth it,” she emphasized.