Business news from Ukraine

Business news from Ukraine

Germany wants to limit aid to Ukraine

By 2026, Germany aims to reduce its aid to Ukraine, relying on sources other than the federal budget. Capital gains from frozen Russian assets could be one such source.

It came as a shock to Ukraine and to all those who want to support Kyiv unconditionally: the German government apparently wants to end financial aid for military aid to Ukraine from the federal budget after next year and instead tap into an international pot.
The reason for this is the extremely difficult budgetary situation in which the governing coalition of the center-left Social Democratic Party (SPD), the Green Party, and the neoliberal Free Democratic Party (FDP) is struggling to make ends meet.
Finance Minister Christian Lindner (FDP) wrote in a letter to Defense Minister Boris Pistorius (SPD) and Foreign Minister Annalena Baerbock (Greens) that “new measures” involving payment obligations may only be agreed upon if “financing has been secured.”

The German government has allocated €7.5 billion ($8.3 billion) in the 2024 budget for Ukraine, and another €4 billion ($4.4 billion) for 2025. After that, no further money will be earmarked for Ukraine in Germany’s federal budget.
At that point, the money is expected to come from a new source, agreed upon by the representatives of the seven major Western industrialized nations, the G7, in June. At their summit meeting they declared that by the end of the year, around €50 billion ($55 billion) is supposed to have been raised in “additional funds,” not as a substitute for national contributions.
The interest for these loans are to be paid for by, among other things, interest earnings from frozen Russian assets. However, it is still unclear if and when such revenues will accrue, how much they will be and whether they can be used in this manner. International negotiations on this are ongoing. The G7 had explicitly stated that these funds were not going to substitute national contributions to Ukraine’s struggle.

Criticism from all sides

Ukraine’s ambassador to Germany, Oleksii Makeiev, was quick to issue an urgent warning to the German government against cutting financial support to his country. “Cutting military aid to Ukraine means jeopardizing Europe’s security,” he wrote on X. “That would be fatal and must be avoided. The funds are there, it’s a question of political will.”
Criticism showered down on the government. Representatives of the largest opposition party, the conservative Christian Democratic Union (CDU), accused the German government of abandoning Ukraine. The opposition party is also in favor of using Russian assets – not as a substitute for German funds, but in addition to them.
Critical voices are even coming from within the governing coalition. Michael Roth (SPD), chairman of the Foreign Affairs Committee in the Bundestag, said that Germany cannot make its support dependent on the budget situation. “We must not sacrifice the fate of Ukraine on the altar of the debt brake,” he said in reference to a provision in the German constitution limiting public debt.
Green Party co-leader Omid Nouripour said in an interview with public broadcaster ARD: “This is not a good signal, certainly not for Ukraine and certainly not for our partner states, which are all involved.”
Marie-Agnes Strack-Zimmermann from the FDP, one of the most vehement supporters of military and financial aid to Ukraine and chair of the Defense Committee in the European Parliament, echoed the same sentiment. But she also held her partners accountable. She wrote on X that aid to Ukraine still needs to be stepped up. “But this is only possible together with our European partners, from whom we are demanding just as much commitment as before.”

Fear ahead of the state elections?

The German government wants to limit aid to Ukraine not only because of the tight budget. In September, state elections will be held in three eastern German states: Saxony, Thuringia and Brandenburg. Polls predict good results for the far-right Alternative for Germany (AfD) and the populist Sahra Wagenknecht Alliance (BSW), who want to end support for Ukraine and are in favor of reconciliation with Russia.
After the initial uproar over cutting aid to Ukraine, the German government is now trying to mitigate the damage: “The chancellor will keep his word that support for Ukraine will continue for as long as necessary and that no one, especially not the Russian president, can count on us letting up,” said government spokesman Wolfgang Büchner.
However, he did not deny that a shift from the federal budget to international sources was being considered.

https://www.dw.com/en/germany-ukraine-military-aid-2026/a-69984998

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Heat up to 35° in Kiev on Monday-Tuesday

In Ukraine on Monday, August 19, without precipitation; only in the afternoon in the western regions in some places short-term rain, thunderstorms, reports Ukrhydrometcenter.

The wind is predominantly southeastern, 5-10 m/s.

The temperature at night 15-20 °, on the seashore up to 23 °; in the afternoon 29-34 °, in the southern and central regions of strong heat 35-37 °; in the Carpathians 23-28 °.

In Kiev on Monday without precipitation. No precipitation. The wind is predominantly southeastern, 5-10 m/s. The temperature at night is 18-20°, during the day 32-34°.

According to the Central Geophysical Observatory named after Boris Sreznevsky. Borys Sreznevsky in Kiev on August 19, the highest daytime temperature was 37.8 in 1946, the lowest nighttime temperature was 7.4 in 1893.

Tuesday, August 20, in Ukraine without precipitation; only in the western regions, in the afternoon and in Zhytomyr region, in some places short-term rain, thunderstorm.

Wind of variable directions, 3-5 m/s.

The temperature at night 15-20°, on the seashore up to 23°; in the afternoon strong heat 35-38°, in the western regions 30-34°, in some places 25-30°.

In Kiev on Tuesday without precipitation. Wind of variable directions, 3-5 m/s. The temperature at night is 18-20 °, in the daytime strong heat – 35 °.

 

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Ukraine increased imports of tin in January-July by 8%

Ukrainian companies increased imports of tin and tin products by 7.8% in January-July – up to $1.536 mln (in July – $185 thousand),
According to customs statistics released by the State Customs Service of Ukraine, exports of tin and products amounted to $331 thousand (in July – $150 thousand) against $53 thousand in the same period a year earlier.
In 2023, exports of tin and products totaled $159 thousand vs. $424 thousand for 2022.
Tin is used primarily as a safe, non-toxic, corrosion-resistant coating in pure form or in alloys with other metals. The main industrial uses of tin are in white tinplate for food containers, in solder for electronics, in house piping, in bearing alloys, and in coatings made from tin and its alloys. The most important tin alloy is bronze (with copper). Another well-known alloy – pewter – is used for the manufacture of tableware.

 

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Export of lead from Ukraine in January-July decreased to $6.5 mln

Ukrainian enterprises in January-July decreased imports of lead and lead products by 14.4% to $610 thousand ($50 thousand in July).
According to customs statistics released by the State Customs Service of Ukraine, exports of lead and lead products decreased by 27.8% to $6.492 million (in July – $1.089 million).
Ukraine’s imports of lead and lead products decreased by 65.2% to $989 thousand in 2023.
Lead is currently mainly used in the production of lead-acid batteries for the automotive industry. In addition, lead is used to make bullets and some alloys.

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Zinc exports from Ukraine for seven months of this year amounted to $120 th.

According to customs statistics released by the State Customs Service of Ukraine, zinc exports for seven months of this year amounted to $120 thousand (and in July – $21 thousand), while in January-July last year it amounted to $86 thousand.
Zinc exports abroad in 2023 amounted to $130 thousand against $1.331 million in 2022.
Pure metallic zinc is used to restore noble metals, used to protect steel from corrosion and for other purposes.

 

 

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Ukraine and Croatia develop cooperation in field of culture

Acting Minister of Culture and Information Policy (MCIP) Rostislav Karandeyev discussed with the Ambassador of the Republic of Croatia to Ukraine Anica Dzhamic the preservation of cultural heritage amid ongoing Russian aggression, the press service of the Ministry of Culture and Information Policy reported.

“The discussion focused on the needs of Ukraine in the field of preservation of cultural heritage suffering from Russian aggression, return of cultural values, protection of intangible cultural heritage. It was also about cooperation within the framework of UNESCO activities,” the report said.

Karandeev spoke about the challenges facing Ukraine. Among them, in particular, the preservation of cultural heritage and people of the cultural sphere. He thanked the Croatian government for financial and material assistance to Ukrainian citizens who will continue to need it because of Russia’s aggression.

“We would like our citizens to keep in touch with their country and not lose their Ukrainian identity. It is important to create favorable conditions for this,” said Karandeev.

Also, the head of the Ministry of Culture emphasized the need for Ukraine to create a depository for the preservation of evacuated museum values and emphasized the value of Croatian experience in this matter. He also proposed to intensify cultural cooperation: the organization of Ukrainian exhibitions, tours, film screenings in Croatia, as well as the creation of conditions for learning the Ukrainian language and support for book publishing, translations of Ukrainian authors into Croatian.

In addition, the parties discussed the problems of preservation of intangible cultural heritage, in particular, the Greeks of the Azov region.

In turn, the Croatian Ambassador offered to hold an online meeting with the responsible persons in the Ministry of Culture and Media of the Republic of Croatia on the preservation of cultural heritage, and reiterated support for Ukraine.

“Croatia has been with Ukraine since the first days of the war, primarily because of its own experience of the war it lived through. Our experience helps Ukraine to more quickly master the processes that await it, as well as to avoid mistakes that the country may make out of inexperience,” said the Ambassador.

 

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