Ukrainians’ attitudes towards Serbia in March 2026 show a moderate increase in positive views against a backdrop of declining negative perceptions; however, the overall picture remains mixed. The proportion of positive attitudes rose to 21.7% compared to 13.7% in August 2025, whilst negative attitudes fell from 26.0% to 19.6%. This is evidenced by the results of a public opinion poll conducted in March 2026 by the research company Active Group in collaboration with the Experts Club information and analytical centre.
Despite these changes, neutrality remains the key characteristic of perceptions of Serbia: 55.0% of respondents do not have a clearly formed attitude towards this country. This indicates the absence of a stable image of Serbia in Ukrainian society and a significant degree of uncertainty regarding the perception of its role in the international context.
The breakdown of responses shows that the positive perception is formed mainly through moderate assessments: only 5.6% of respondents chose the ‘entirely positive’ option, whilst 16.1% selected ‘mostly positive’. At the same time, negative assessments also carry significant weight: 16.3% of respondents expressed a ‘mostly negative’ attitude, and a further 3.3% — ‘completely negative’. The proportion of those who were unable to decide on an answer stands at 3.7%.
The trend indicates a certain softening of attitudes towards Serbia: an increase in positive views is accompanied by a simultaneous decrease in negative ones. At the same time, these changes have not led to the formation of a clearly positive image of the country, as neutral assessments remain dominant.
In a broader context, this means that Serbia is perceived by Ukrainians as a country with an ambiguous position in international affairs. It does not provoke a sharply negative reaction, yet it is not associated with unconditional support for Ukraine, which limits the level of trust and emotional attachment.
‘The results for Serbia show that Ukrainian society reacts quite sensitively to the foreign policy behaviour of countries. The rise in positive assessments indicates a certain softening of perception, yet the high level of neutrality means that the country’s image remains ambiguous. In such cases, consistency in actions and signals plays a key role in building trust at the societal level,” noted Maksym Urakin, founder of the Experts Club information and analytical centre.
At the same time, he added that over the past year, Ukrainians’ attitudes towards Serbia have improved significantly, not least due to the activities of the Republic’s embassy, led by Ambassador Extraordinary and Plenipotentiary Andon Sapundži.
“The Serbian mission’s active involvement, led by the new ambassador, in humanitarian initiatives and the establishment of intergovernmental dialogue has undoubtedly had a positive impact on Ukrainians’ attitudes towards this Balkan state compared to last year’s figures,” added Urakin.
Thus, attitudes towards Serbia can be characterised as transitional: they demonstrate positive momentum but have not yet transformed into a stable positive image. Further changes will largely depend on how clear and consistent the country’s position is on issues important to Ukrainian society.
According to a study conducted by the Experts Club information and analytical centre based on data from the State Customs Service, Serbia ranks 40th in terms of total trade in goods with Ukraine, which amounts to $444.1 million. However, imports of Serbian goods exceed Ukrainian exports, resulting in a bilateral trade deficit of $92.9 million.
The study was presented at the Interfax-Ukraine press centre; the video can be viewed on the agency’s YouTube channel. The full version of the study can be found via this link on the Experts Club analytical centre’s website.
ACTIVE GROUP, EXPERTS CLUB, Pozniy, SERBIA, SOCIOLOGY, SURVEYS, UKRAINE, URAKIN
The results of a public opinion poll conducted in March 2026 by the research company Active Group in collaboration with the Experts Club information and analysis centre reveal a complex and contradictory pattern in Ukrainians’ attitudes towards China. Overall, 20.3% of respondents expressed a positive attitude, whilst 42.0% expressed a negative one. Compared to August 2025, positive assessments have risen (from 12.0%), but negative ones have also increased slightly (from 40.7%), indicating not a shift in the balance but a deepening of polarisation.
A more detailed breakdown of the responses shows that only 7.7% of those surveyed have a ‘completely positive’ attitude towards China, whilst 12.6% have a ‘mostly positive’ one. At the same time, the proportion of neutral assessments is significant — 34.3% — indicating a lack of a clear position among a significant proportion of respondents.
The negative segment is dominant and is predominantly moderate in nature: 33.1% chose the ‘mostly negative’ option, with a further 8.9% selecting ‘entirely negative’. This suggests that negative perceptions of China are not sharply radicalised, but remain persistent and widespread. The proportion of those who are undecided stands at 3.5%.
Comparative trends indicate a certain increase in interest in or reassessment of China, reflected in a rise in positive assessments. However, the parallel rise in negative sentiment suggests the absence of a single trend. Rather, it indicates the formation of more pronounced positions — both positive and critical.
“Ukrainians today quite clearly distinguish between a country’s economic weight and its perception in a political and social context. In the case of China, this is particularly evident: on the one hand, there is an awareness of its role in the global economy, and on the other, a reserved or negative attitude. This is precisely why we are seeing a simultaneous rise in both positive and negative assessments,” noted Oleksandr Pozniy, director of the research company Active Group.
The high proportion of neutral responses is also an important indicator. It may indicate a limited level of personal experience of interaction or a lack of awareness among some respondents. In such conditions, public opinion remains sensitive to changes in the information environment and the foreign policy context.
“The modern international economy is shaped not only by trade, but also by trust and the perception of partners. If a country is present in the market but is not associated with investment, technology or support, this affects its image in society. In the case of China, we see a clear example of such an asymmetry between economic presence and perception. Our people are guided by emotions and the picture presented by the media, rather than by concrete facts and statistics. It should be added that if Ukrainian citizens really did have such a negative attitude towards China, there would be a de facto self-imposed embargo on the purchase of Chinese technology, clothing and other goods, but this is not the case; China remains the number one trading partner, which would be difficult without a positive or neutral attitude towards the country. “Another issue is that China should also strengthen its presence in Ukraine in the fields of humanitarian aid, educational and scientific exchange, cultural diplomacy, and so on,” noted Maksym Urakin, founder of the Experts Club information and analytical centre.
Overall, the survey results indicate that China remains an important but ambiguous partner for Ukrainians. Positive assessments are on the rise, but they do not alter the overall balance, which is dominated by a cautiously negative perception. This points to the need for a deeper analysis of the factors shaping public opinion, as well as the potential for its further transformation depending on the development of economic and political relations.
According to a study conducted by the Experts Club information and analytical centre based on data from the State Customs Service, China is the leader in terms of total trade in goods with Ukraine, with a figure exceeding $21 billion. At the same time, imports from China significantly exceed exports of Ukrainian goods, resulting in a substantial trade deficit.
The study was presented at the Interfax-Ukraine press centre; the video can be viewed on the agency’s YouTube channel. The full version of the study can be found via this link on the Experts Club analytical centre’s website.
ACTIVE GROUP, CHINA, EXPERTS CLUB, Pozniy, SOCIOLOGY, SURVEYS, UKRAINE, URAKIN
Imports of power generation units and rotating electrical converters to Ukraine in January–March 2026 fell by 31% compared to the same period in 2025—to $298.7 million, according to data from the State Customs Service.
According to statistical data, in March, imports of this equipment decreased by 11% compared to March 2025 and by 41.9% compared to February 2026—to $78.6 million.
In the first quarter of this year, electric generators and converters were most frequently imported from Romania—$62.7 million, accounting for 21% of total imports of these products—China—$55.4 million, or 18.5%—and the Czech Republic—$50.3 million, or 16.8%.
A year earlier, the largest suppliers were the Czech Republic with $85.7 million in shipments, the United States with $77.3 million, and Austria with $68.7 million.
Exports of electric generators from Ukraine in January–March 2026 were negligible, totaling $0.44 million.
As reported, in late July 2024, Ukraine exempted imports of electric generator equipment and batteries from customs duties and VAT. According to the State Customs Service, imports of electric generators and converters grew 2.3 times in 2025 compared to 2024, reaching $1.69 billion.
The Supervisory Board of PJSC “National Depository of Ukraine” (NDU, Kyiv) announced the extension of the deadline for accepting applications from candidates intending to participate in the competitive selection process for the position of NDU Board Chair until April 22 inclusive.
“To attract a wider range of candidates and ensure the selection process is as transparent and competitive as possible,” the announcement on the NDU website states.
According to the announcement, the selection process will take place in two stages: in the first stage, all interested parties submit their applications to participate in the competition, and in the second stage, interviews will be held with the selected candidates.
Afterward, the supervisory board will submit recommendations regarding the candidate for the position of CEO for consideration at the general meeting of NDU shareholders, who have the authority to make this decision.
It is noted that candidates, among other things, must have at least five years of experience as a manager in capital markets and/or organized commodity markets and be thoroughly familiar with “the issues and trends in the development of Ukraine’s capital market, particularly the stock market infrastructure, legislation governing professional activities, as well as experience working in foreign capital markets.” During the interview, they will be required to briefly present their vision for the depository’s strategic development in the medium term.
As reported, from June 2021 until the end of December 2025, Alexey Yudin served as the head of the NDU’s board, and currently, until the conclusion of the competition, Marina Adamovskaya holds that position; she has served as deputy head of the board since June 2019.
In early September 2025, the National Bank announced the launch of a memorandum of cooperation in support of an integrated capital market infrastructure, signed in Rome in July of this year with the European Bank for Reconstruction and Development (EBRD) with the participation of the Ministry of Economy, the Ministry of Finance, the National Bank, and the National Securities and Stock Market Commission (NSSMC). The first stage involved optimizing the ownership structure and corporate governance of the NDU by transferring the state’s stake to the NBU for management.
Next, plans call for the creation of a holding company involving a reputable international strategic investor (an operator of trading and post-trading infrastructures) selected through an open tender, international financial organizations, local market participants, and the state/state-owned banks.
This holding company, in turn, will establish a new stock exchange in Ukraine, which will replace the National Bank as the majority owner of the central clearing institution—the Settlement Center. Additionally, this exchange will hold a minority stake in the NDU, while the National Bank will hold the majority stake.
The final stage should be the consolidation of depository services under the NDU, which is to function as a single central securities depository, by transferring to it the functions of accounting for and servicing government bonds from the National Bank.
In addition to managing the state’s 25% stake in the NDU, as of September 24 of this year, the National Bank directly owned 25%, with another 10.9399% belonging to its Corporate Pension Fund, while the state-owned Oschadbank and Ukreximbank held 24.9903% and 9.9903%, respectively. At the same time, the National Securities and Stock Market Commission (NSSMC) appoints the trustee for the shares of Oschadbank, Ukreximbank, and the NBU’s Corporate Pension Fund, but this provision of the law on the depository system is expected to be amended as part of the infrastructure reform.
Another 4.0795% of the shares were owned by 27 legal entities and 2 individuals; specifically, Yelena Nusinova held 1.7054% of the shares, and Odessa Privatization Center LLC, owned by former NSSMC member Viktor Ivchenko, held 1.7151%.
Serbia will allocate EUR2 million to support Ukraine’s energy sector במסגרת a joint project with the United Nations Development Programme (UNDP), the Telegram channel “Serbian Economist” reported, citing official data.
According to the report, the Government of the Republic of Serbia and UNDP signed an agreement providing for the financing of the procurement and delivery of high-voltage transformers. These are critical pieces of equipment needed to restore electricity transmission systems and ensure stable power supply.
The funds will be provided under UNDP’s green energy recovery programme for Ukraine. The initiative is aimed at supporting basic services in the regions most affected by the war, including electricity, heating and water supply.
Serbian Ambassador to Ukraine Andon Sapundji said that Belgrade’s contribution is intended to support critical infrastructure and help ensure uninterrupted energy supply for the population.
In turn, UNDP Resident Representative in Ukraine Auke Lootsma stressed that Serbia’s assistance will contribute not only to the restoration of damaged facilities, but also to the modernization of Ukraine’s energy system.
According to international estimates, since 2022 Ukraine’s energy infrastructure has suffered extensive destruction. Total losses in the sector are estimated at $88.2 billion, of which about $17.1 billion relates specifically to the power sector, including generation and transmission.
The project is being implemented as part of cooperation between Ukraine and the United Nations in the field of sustainable development and is in line with the strategic goal of transitioning to a more resilient and modern energy system.
Prime Minister Yulia Svyrydenko reported on her meeting with Canada’s Secretary of State for International Development, Randip Sarai, with whom she discussed new steps in cooperation—ranging from funding for energy resilience to joint projects in the areas of housing for veterans and the development of strategic resources.
“I briefed him on the government’s work to prepare for the upcoming heating seasons as part of regional stability plans, as well as on Ukraine’s key needs for energy equipment to develop distributed generation. We highly appreciate Canada’s consistent support in strengthening our state and the recently announced contribution of 20 million Canadian dollars to the Ukraine Energy Support Fund,” she wrote on Telegram.
Svyrydenko thanked Canada for its willingness to cooperate in establishing a veterans’ support fund, which is intended to strengthen the reintegration system for Ukrainians after their service. “We look forward to further cooperation, particularly in sharing expertise in the field of construction of housing for veterans,” she emphasized.
In addition, she said, the two countries discussed cooperation in the field of critical minerals and the development of mineral deposits. The parties agreed to deepen cooperation in geological exploration.
Svyrydenko also invited Canadian partners to become active participants in an international donor conference aimed at mobilizing efforts to restore a new safe confinement at the Chernobyl Nuclear Power Plant following the Russian attack.
