Business news from Ukraine

Ukraine starts supplying organic millet to US

Ukraine has begun exporting organic millet to the United States, certification company Organic Standard reported on Facebook.
“The products are certified in accordance with the COR (Canadian Organic Regime) standard, but the certificate for import to the United States was issued through the Integrity electronic system, which confirms the equivalence of organic requirements of Canadian and US standards,” the statement said.
“Such shipments demonstrate in practice how one certificate in accordance with the COR standard, taking into account equivalence, can cover two large markets at once – the United States and Canada,” the certification body explained.
Organic Standard LLC is the first Ukrainian certification body that inspects and certifies organic production. It was established in 2007 as part of the Ukrainian-Swiss project “Organic Certification and Organic Market Development in Ukraine”.

,

US to provide $2.3 bln in military aid to Ukraine

The United States will soon announce an additional $2.3 billion in security assistance to Ukraine, which will include anti-tank weapons, interceptors and ammunition for the Patriot and other air defense systems, U.S. Secretary of Defense Lloyd J. Austin III said.
“I am proud that the United States will soon announce more than $2.3 billion in new security assistance to Ukraine. This package will provide more air defense interceptors, anti-tank weapons, and other critical munitions from U.S. stockpiles, within the President’s authority…and will be delivered to Ukraine,” the Pentagon press service quoted Austin as saying before the talks with Ukrainian Defense Minister Rustem Umerov.
The Defense Minister noted that the announced aid package will also allow the United States to purchase more Patriot and NASAMS air defense interceptors, which will be delivered in an accelerated time frame due to a change in the order of deliveries for some foreign military sales.
In addition, the Pentagon chief noted that ahead of next week’s NATO summit in Washington, the United States will take “steps to build a bridge to Ukraine’s NATO membership.”
He added that he looked forward to “the opportunity to discuss further ways to meet Ukraine’s urgent security needs and build a future force capable of withstanding Russian aggression.”
“Ukraine does not stand alone, and the United States will never waver in its support. Together with our 50 allies and partners, we will continue to provide the critical capabilities Ukraine needs to repel Russian aggression today and deter it tomorrow,” Austin assured.
In turn, Umerov thanked Austin for his comprehensive assistance and support.
“Thanks to this support, we have stopped Russia, stopped its aggression against people, our values and national interests. And we look forward to discussing with you how we could continue our partnership and become a NATO member in the future. I hope that Ukraine will soon receive an invitation. But for now, we will discuss how to increase our capabilities and plans,” Umerov said.
Ukraine’s President Volodymyr Zelenskyy said on Sunday that Russia had dropped more than 800 guided aerial bombs on Ukraine in the past week alone. He called on the leaders of the countries to ease restrictions on the use of Western weapons to strike military targets in Russia. In particular, he said that Ukraine needs “the necessary means to destroy the carriers of these bombs, including Russian warplanes, wherever they are.”

,

The number of companies in the U.S. and Canada hit by cyber extortion has reached a new record high

The number of companies in the U.S. and Canada hit by cyber extortion has reached a record high in 2023, with unprecedented ransom demands, according to the report “Ransomware: a persistent problem in cyber insurance claims” by global insurance broker Marsh, according to its website.

It notes that nevertheless, as cybercriminals become bolder in their requests, more companies are refusing to pay.

Overall, 21% of Marsh’s clients reported cyber events in 2023, the vast majority of which were privacy claims and system attacks leading to unauthorized access and potentially exposed data.

According to Marsh , this rate has remained fairly stable over the past five years – between 16% and 21% – suggesting in part that companies’ cyber controls are keeping pace with the increasing sophistication and frequency of cyberattacks.

However, a record 282 ransomware incidents were reported to Marsh in 2023, a 64% increase from 2022. Although ransomware accounts for only 17% of all filed cybercrimes, ransomware remains a major concern for organizations given its increased frequency, sophistication, and potential severity.

Indeed, the average ransom demand rose to $20 million in 2023 from $1.4 million, while the average payment made was $6.5 million, reflecting the effectiveness of ransomware negotiations, Marsh notes in the report.

Only 23% of its clients affected by cyber extortion in 2023 paid ransom. Most (77%) refused, reflecting a growing trend. In 2021, only 37% of Marsh’s clients rejected cybercriminals’ demands.

 

, ,

US may transfer long-range ATACMS to Ukraine

The administration of US President Joe Biden is preparing a new aid package for Ukraine worth about $1 billion, which is to be approved by Biden after the Senate passes a new bill on foreign aid funding, CNN reported on April 23, citing its sources.

It is noted that the United States is likely to send Ukraine long-range ATACMS, or Army Tactical Missile Systems, for the first time as part of the new aid package.

According to CNN, earlier Senator Mark Warner, chairman of the Senate Intelligence Committee, expressed hope that the ATACMS missiles would be sent to Ukraine by the end of next week. “This should have happened six months ago. The next best time is right now,” Warner said.

The package is also expected to include ammunition, including air defense and artillery munitions, Bradley fighting vehicles and other weapons.

,

US Senate has supported law on allocating money to Ukraine

The upper house of the U.S. Congress (Senate) has passed a bill to provide aid to Ukraine. There were 79 votes in favor.

The law is to be signed by US President Joe Biden in the near future.

As reported, the bill approved on April 22 by the lower house of the US Congress (House of Representatives) provides for the allocation of almost $61 billion for purposes related to the support of Ukraine.

In addition to assistance to Ukraine, the package also includes $26 billion in aid to Israel, $8 billion to support US allies in the Indo-Pacific, as well as provisions for new sanctions against Russia, China, and Iran and the US President’s authority to use frozen Russian assets for the benefit of Ukraine.

April 23 President Zelenskyy has a phone conversation with US President Joseph Biden, during which Biden assures him that if the bill is approved by the Senate, he will immediately sign it into law.

The White House website confirms Biden’s words that his administration will quickly provide significant new security assistance packages for Ukraine in combat and air defense as soon as the Senate passes the supplemental national security package and he signs it into law.

For his part, Ukrainian President Volodymyr Zelenskyy made it clear that Ukraine would receive long-range ATACMS missiles as part of the US aid package. “And today’s result is that all the dots have been dotted in the ATACMS agreement for Ukraine. Thank you, Mr. President! Thank you, Congress! Thank you, America!” he said in a video message on Monday.

The provision of missiles with a range of up to 300 kilometers has been a request of Kyiv for the past year, but the US administration has constantly postponed the issue. The missiles are provided for in a congressional resolution passed on Saturday, but it contains a reference to the administration’s ability to refuse to deliver them if it is in the national security interest.

, ,

US announces new aid package for Ukraine

US National Security Advisor Jake Sullivan has announced a new $300 million military aid package for Ukraine, including artillery ammunition and HIMARS shells.

“I’m announcing a $300 million emergency security assistance package of weapons and equipment to address some of Ukraine’s most pressing needs,” Sullivan said at a briefing on Tuesday.

He noted that the opportunity to transfer the aid was made possible by “unanticipated cost savings” in contracts that the Defense Department had awarded to replace equipment that had already been sent to Ukraine.

Sullivan noted that the opportunity to transfer the aid was made possible by “unanticipated cost savings” from contracts the Defense Department had signed to replace equipment that had already been sent to Ukraine.

“To be very clear, we can use these cost savings to provide this modest amount of new security assistance right now without compromising the U.S. military. And the president has instructed his team to use those savings,” Sullivan explained.

The White House reported that the announced aid package, in particular, includes a large batch of artillery ammunition and GMLRS used in the M270 MLRS and M142 HIMARS multiple launch rocket systems.

“This is the assistance Ukraine desperately needs to hold the front line against Russian attacks and to counter Russia’s ongoing offensive in eastern and other parts of Ukraine. This ammunition will keep Ukrainian forces firing for some time, but only for a short period,” he emphasized.

Sullivan added that this aid will not prevent Ukraine from running out of ammunition in the coming weeks.

“It goes without saying that this package does not and should not postpone the critical need to pass a bipartisan national security bill,” he emphasized.

,