Business news from Ukraine

Business news from Ukraine

Taiwan ranks first among global importers of Russian oil

According to The Guardian, Taiwan ranks first among global importers of Russian oil, a light petroleum product that is particularly in demand in the semiconductor and chemical industries, The Guardian reports, citing a study by the Centre for Research on Energy and Clean Air.

In the first half of 2025, Taiwan imported Russian oil worth about $1.3 billion, which is 44% more than in the same period in 2024. Average monthly imports were almost six times higher than in 2022.

The increase in imports has been observed since the start of the war in Ukraine: from February 2022 to June 2025, Taiwan imported 6.8 million tons of Russian oil worth a total of $4.9 billion, which is approximately 20% of all Russian exports of this product.

Although Taipei has formally joined the sanctions against Russia and supports Ukraine, no restrictions on imports of fossil fuels from Russia have been imposed. Experts note that the increase in purchases by Taiwan could undermine the trust of its democratic allies and intensify criticism from the international community.

Naphtha is a light liquid fraction of petroleum or a petroleum product obtained from the refining of crude oil.

It is used as a feedstock in petrochemicals, especially in the production of olefins and polymers. It can be mixed with gasoline or used in reforming processes to improve the octane rating of fuel. It is also used as a solvent in the chemical industry, for diluting heavy oils, and in the production of paints and varnishes.

Oil is particularly important for Taiwan, as the island’s economy depends on the semiconductor industry, which requires high-purity chemical components. Stable access to petroleum products ensures supply chains in electronics and microelectronics.

Source: https://open4business.com.ua/tajvan-vyjshov-na-pershe-miscze-sered-svitovyh-importeriv-rosijskoyi-nafty/

 

, ,

Ukrainian citizens have positive attitude toward Taiwan – research

The results of a study conducted by Active Group and Experts Club in August 2025 showed that Ukrainians generally have a favorable attitude toward Taiwan, although a significant portion of respondents remain neutral.

Thus, 41.0% of respondents expressed a positive attitude (12.0% – completely positive, 29.0% – mostly positive). Only 7.7% gave negative assessments, while almost half — 49.0% — took a neutral position, and 2.3% admitted to being insufficiently informed about this country.

“Taiwan is perceived quite evenly in Ukrainian society, without any strong emotions. At the same time, the positive significantly outweighs the negative, which indicates the general open attitude of Ukrainians towards this important player in the global economy,” said Alexander Pozniy, head of Active Group.

Maksim Urakin, founder of Experts Club, noted that there is a significant imbalance in trade and economic relations between Ukraine and Taiwan:

“According to the results of January-August 2025, trade turnover amounted to about $262.1 million. At the same time, exports from Ukraine amounted to only $8.8 million, while imports from Taiwan amounted to more than $253.3 million. As a result, the negative balance exceeded $244.6 million. This indicates the weak representation of Ukrainian goods on the Taiwanese market,” he said.

Thus, Taiwan occupies an important place in Ukraine’s foreign economic relations, but mainly as a supplier of high-tech goods.

The full video can be viewed at: https://www.youtube.com/watch?v=YgC9TPnMoMI&t

You can subscribe to the Experts Club YouTube channel here: https://www.youtube.com/@ExpertsClub

 

, , , , , , , ,

Philippine President: If tensions escalate around Taiwan, Philippines will not be able to remain on sidelines

The Philippine armed forces will defend their territorial interests in the South China Sea, said Philippine President Ferdinand Marcos.

“The Coast Guard and Navy, which defend the Philippines’ territorial interests in the South China Sea, will never retreat and will stand their ground in disputed waters after the Chinese Coast Guard carried out dangerous blocking maneuvers and used a powerful water cannon in the Scarborough Shoal area on Monday,” the Associated Press quoted Marcos as saying on Monday.

The president also noted that if the situation around Taiwan escalates, his country will inevitably be drawn into the conflict. “We don’t want war, but I think if there is war over Taiwan, we will be drawn into it, whether we want it or not,” Marcos said.

On July 3-4, according to the Philippine side, Chinese coast guard ships pursued and carried out “dangerous blocking maneuvers” against Philippine coast guard vessels and fishing boats near the Scarborough Reef off the northern coast of the Philippines. Scarborough Reef is located in disputed waters in the South China Sea and is claimed by China, the Philippines, and Taiwan.

Earlier, the information and analysis center Experts Club published a comparative analysis of the military potential of China and Taiwan – https://expertsclub.eu/porivnyalnyj-analiz-vijskovogo-potenczialu-kytayu-i-tajvanyu-vid-experts-club/

 

, ,

US is demanding that Japan and Australia commit to their role in event of war between US and China over Taiwan

The administration of US President Donald Trump is stepping up pressure on key allies in the Indo-Pacific region, particularly Japan and Australia, demanding clear commitments on their role in the event of a war between the US and China over Taiwan, the Financial Times reports, citing informed sources.

“US Deputy Secretary of Defense for Policy Elbridge Colby has been actively raising this issue in recent months at meetings with representatives of the Japanese and Australian defense ministries. According to sources, this has surprised allies, as the US itself does not provide Taiwan with security guarantees,” the report said.

“Specific operational planning and exercises that are directly applicable to an unforeseen situation in Taiwan are being advanced with Japan and Australia,” one of the publication’s sources said.

However, the Japanese Ministry of Defense noted that the issue of an emergency situation in Taiwan is hypothetical and that responses to it should be based on national and international law. The Australian Embassy in the US declined to comment.

According to the publication, Colby’s efforts are part of Trump’s agenda to “restore deterrence and achieve peace through strength,” which includes calls for allies to increase defense spending.

It is also noted that Colby advocates revising the AUKUS security agreement, which allows Australia to acquire nuclear submarines, and calls on European allies to reduce their military presence in the Indo-Pacific region and focus on the Euro-Atlantic direction.

 

, ,

Winner of presidential election in Taiwan has been determined

The head of the Democratic Progressive Party (DPP), Lai Tsing-jeou, has won the presidential election in Taiwan, Western media report.

He received 40.2% of the vote, significantly outpacing his opponents. It is reported that almost all ballots have been counted. However, the Central Election Commission has not yet announced the voter turnout.

The media reminds us that the DPP will remain in power in Taiwan for the third consecutive term: Tsai Ing-wen has held the presidency for two four-year terms since 2016.

Hou Yui of the Kuomintang Party, who won 33% of the vote, has already congratulated Lai Tsing-jeou on his victory. Ke Wen-jeou, the founder and leader of the Taiwan People’s Party (TPP), who managed to win 26.33% of the vote, also conceded defeat.

Later, Lai Tsingde thanked everyone who voted for him, as well as Hou Yui and Ke Wen-jeou, who agreed with the election results.

“We are telling the international community that when it comes to choosing between democracy and authoritarianism, we choose the side of democracy,” he said.

“The party of current Vice President Lai, which defends Taiwan’s identity and rejects China’s territorial claims, is running for a third term, an unprecedented development in Taiwan’s current electoral system,” Reuters notes.

The European Union welcomed the elections held in Taiwan on January 13, citing a common commitment to democracy.

“Our respective systems of governance are based on a common commitment to democracy, the rule of law and human rights. The European Union emphasizes that peace and stability in the Taiwan

Strait area is key to regional and global security and prosperity,” a statement by a spokesperson for the European External Action Service (EEAS) said in a statement released on Saturday in Brussels.
At the same time, the EEAS spokesperson noted that the European Union remains concerned about the growing tensions in the Taiwan Strait and opposes any unilateral attempts to change the status quo.”

Earlier, the Experts club information and analytical center released a video about the most important elections in the world in 2024, which predicted the victory of an anti-Chinese candidate for the presidency of Taiwan. More information about the 2024 global elections can be found in the video here: https://youtu.be/73DB0GbJy4M?si=O98WbmetBtle9DnH

Subscribe to the Experts Club channel: https://www.youtube.com/@ExpertsClub

, , ,

Taiwan to allocate $56 million to rebuild civilian infrastructure in Ukraine

Taiwan’s Foreign Ministry has allocated about $56 million in the 2023 budget for rebuilding Ukraine’s civil infrastructure, Caribbean News Global reported Monday.
The publication said, citing Taiwan’s Foreign Ministry, plans to participate in the reconstruction of Ukrainian hospitals, schools, churches, energy facilities, water supply, bridges and transport on a bilateral and multilateral basis.
“Since the start of the war (Russia’s full-scale invasion of Ukraine), the people and government of Taiwan have donated a total of 27 tons of medical supplies and more than 700 tons of humanitarian aid. Aid from Taiwan was quickly delivered via Poland, Slovakia and other neighboring countries to Ukrainians seeking to protect their homes during the war,” the publication notes.
Taiwan also donated more than $41 million to efforts in coordination with neighboring countries – including Poland, the Czech Republic, Slovakia and Lithuania – and international organizations to resettle Ukrainian refugees together.

,