Business news from Ukraine

Business news from Ukraine

“Ukrnafta” transferred 8.86 bln UAH to budget in first quarter

“Ukrnafta” paid 8.86 billion UAH in taxes, fees, and customs duties to the state budget in the first quarter of 2026.

“In total, since the company came under state management, the amount of taxes, fees, and customs duties paid for 2023–2026 has exceeded UAH 106 billion,” noted Bohdan Kukura, Chairman of the Board of JSC Ukrnafta. “This is the company’s systematic contribution to supporting the economy and financing the state’s needs, particularly those of the Armed Forces. I thank the team for their consistent work and results.”

As of the end of 2025, Ukrnafta, as part of the Naftogaz Group, paid 28.8 billion UAH in taxes and fees to the state budget.

JSC “Ukrnafta” is Ukraine’s largest oil producer and operates the country’s largest national network of gas stations—UKRNAFTA. In 2024, the company entered into an asset management agreement with Glusco. In 2025, it finalized a deal with Shell Overseas Investments BV to purchase the Shell network in Ukraine. In total, it operates nearly 700 gas stations.

The company is implementing a comprehensive program to resume operations and modernize the format of gas stations in its network. Since February 2023, it has been issuing its own fuel vouchers and “NAFTACard” cards, which are sold to legal entities and individuals through Ukrnafta-Postach LLC.

The largest shareholder of Ukrnafta is Naftogaz of Ukraine with a stake of 50% plus one share.

In November 2022, the Supreme Commander-in-Chief of the Armed Forces of Ukraine decided to transfer to the state the share of corporate rights in the company that belonged to private owners, which is now managed by the Ministry of Defense.

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Naftogaz Transferred Nearly 20 Bln UAH in Taxes to State Budget

The Naftogaz Group paid 21.739 billion UAH in taxes to budgets at all levels in January–March 2026, the company reported on Wednesday.

Of this amount, 19.7 billion UAH went to the state budget, and over 2 billion UAH to local budgets.

“Despite widespread destruction and constant Russian attacks on oil, gas, and energy infrastructure, Naftogaz remains a reliable taxpayer to the state budget,” said Serhiy Koretskyi, Chairman of the Board of NJSC Naftogaz of Ukraine.

The company added that the Naftogaz Group remains one of the largest taxpayers in Ukraine.

As reported, Naftogaz Group companies paid 44.4 billion hryvnias in taxes during the first six months of 2025, of which 40.7 billion hryvnias went to the state budget.

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“Cherkasyoblenergo” has announced tender for compulsory motor third-party liability insurance with budget of 3.4 mln UAH

On April 9, PJSC ‘Cherkasyoblenergo’ announced a tender for compulsory motor third-party liability insurance for trolleybuses, according to the “Prozorro” electronic public procurement system .

As noted, the expected cost of purchasing insurance services is 3.364 million UAH.

The deadline for submitting bids is April 17.

The winner of a similar tender a year earlier was “UPSK.”

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Grants brought in 173.1 bln UAH to budget for quarter

A significant portion of the increase in general fund revenue for the state budget in January–March 2026 is attributable to international aid in the form of grants totaling 173.1 billion UAH, the Ministry of Finance reported.

However, in March, the volume of grants fell to 8.8 billion UAH after 62.9 billion UAH in February and 101.4 billion UAH in January, whereas in March of last year, grants amounted to 97.8 billion UAH. Against the backdrop of lower grants, general fund revenues in March fell by 16.6% to 267.7 billion hryvnia, although total budget revenues for the month rose by 0.9% to 392.6 billion hryvnia.

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“eFishing” has generated nearly 170 mln UAH in additional revenue for budget

The implementation of digitalization in the fisheries sector, specifically the “eFishing” system, has generated approximately 170 million UAH in additional revenue for Ukraine’s state budget, according to Oleksandr Haidu, Chairman of the Verkhovna Rada Committee on Agrarian and Land Policy.

“Starting in 2022, a systemic reform is being implemented in the sector aimed at creating a transparent and competitive fisheries market,” he emphasized during the industry forum “Fisheries of Ukraine: On the Path to European Integration,” organized by the State Agency for Fisheries.

According to the committee head, the reform involves the adoption of European standards, the digitization of resource management, and the introduction of electronic auctions for commercial fishing rights. These steps will help minimize corruption risks and increase the sector’s investment appeal.

Forum participants also discussed the implementation of the pilot project “eInspector.” This initiative aims to modernize the work of fisheries patrols and strengthen control over the use of aquatic biological resources. Special attention was given to legislative initiatives regarding the development of aquaculture and the adaptation of Ukrainian law to EU standards.

The “eFisheries” system is part of a broader digital transformation of Ukraine’s agro-industrial complex, aimed at transitioning all administrative services in the sector to an electronic format.

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Kyivstar paid 13.6 bln hryvnias in taxes to state budget in 2025

Kyivstar, Ukraine’s largest telecommunications operator, paid over 13.67 billion UAH in taxes and fees to the state budget in 2025, a 12% increase from the previous year, according to a press release issued by the company on Wednesday.

According to the release, over the four years of full-scale war, the company’s total tax contributions exceeded 46.5 billion UAH, cementing Kyivstar’s status as the largest taxpayer in Ukraine’s telecom industry.

Previously, the company reported paying 12.3 billion UAH in taxes and fees for 2024 and 10.8 billion UAH for 2023.

According to data from the YouControl system, Kyivstar increased its revenue by 19.6% last year—to 43.81 billion UAH—while its net profit rose by 8.6%—to 12.31 billion UAH.

The Kyivstar Group’s annual consolidated financial statements, published recently, also noted that in 2025, income taxes increased by $10 million, or 15.6%, to $74 million.

“This increase was driven by higher taxable income for the year ended December 31, 2025, including approximately $18 million in taxable income related to the acquisition of Uklon,” the report stated.

“It is important for us to remain a reliable partner of the state: significant tax revenues, investments in the network, and strengthening its energy independence are our contribution to economic stability and uninterrupted connectivity for millions of people,” Kyivstar President Oleksandr Komarov is quoted as saying in the release.

The company also noted that since 2022, it has invested over 4.6 billion UAH in the procurement and maintenance of backup power equipment, and has allocated a total of 40.1 billion UAH in capital investments during this period toward infrastructure restoration, modernization, and the development of digital capabilities.

In addition, Kyivstar reported that last year it allocated 1.7 billion UAH to support the Armed Forces, subscribers, and the implementation of social projects, bringing the total amount allocated for these purposes since the start of the war to over 4.4 billion UAH.

It is noted that in 2025, the company launched a new charitable initiative—supporting pediatric intensive care units at the UNBROKEN Center based at the First Medical Association of Lviv, to which it allocated 15 million UAH.

As reported, as of the end of 2025, Kyivstar served approximately 22.4 million mobile subscribers and over 1.2 million fixed-line subscribers. The company is wholly owned by Kyivstar Group Ltd, whose shares are traded on the U.S. Nasdaq stock exchange and whose majority owner, in turn, is the telecommunications holding company VEON with an 83.6% stake.

In 2025, the Kyivstar Group increased its EBITDA by 30% to UAH 27 billion, with revenue growing by 30.3% to UAH 48.2 billion; including in the fourth quarter of last year, when EBITDA increased by 23.1% to UAH 7.2 billion, with revenue growing by 30.1% to UAH 13.5 billion.

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