Business news from Ukraine

FINANCIAL TIMES – BORRELL BELIEVES EU COULD USE FROZEN RUSSIAN FUNDS TO REBUILD UKRAINE

The head of European diplomacy, Josep Borrell, believes that the EU could withdraw Russian reserves stored in Europe and send them to the restoration of Ukraine.
“I would strongly advocate for it, as it is completely logical,” he said in an interview published in The Financial Times on Monday.
“The European Commission has said that restoring Ukraine could cost hundreds of billions of euros, and European capitals could consider seizing Russian assets frozen abroad to help pay for Ukraine’s rebuilding (…)”, the FT quoted the words as saying. Borrell.
At the same time, Borrell drew an analogy with Afghanistan – the United States took control of billions of dollars of assets belonging to the Central Bank of Afghanistan in order to possibly use them in part to compensate victims of terrorism, as well as to provide humanitarian assistance to the country.
“We have money in our pockets, and someone has to explain to me why it’s good to do this with Afghan money, but not with Russian money,” Borrell said.
“EU representatives have considered whether it is possible in any way to direct Russia’s reserves to the reconstruction of Ukraine, but Brussels has not moved forward with any political proposals on this topic,” the publication notes.
The FT recalls that “shortly after the start of the conflict, the EU and its allies froze hundreds of billions of dollars of foreign assets of the Central Bank of Russia.”

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UKRAINIAN EDUCATION MINISTRY WORKING ON ORGANIZATION OF CENTERS FOR MULTI-SUBJECT TEST IN EU AND UK

The Ministry of Education and Science of Ukraine is working on the organization of centers for the national multi-subject test in the countries of the European Union and the UK.
“Now we are working on organizing the work of national multi-subject test centers abroad. Minister Serhiy Shkarlet made a relevant request to his colleagues in European countries,” the ministry’s press service said in a statement.
It is noted there is already a preliminary agreement on two centers in Germany, two in Italy and six in Poland, since most Ukrainian children are in this country.

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RUSSIAN CITIZENS MAY BE DEPRIVED OF RIGHT TO BUY REAL ESTATE IN EU

The European Union proposes to ban real estate transactions in the territory of the union with citizens, residents and legal entities of the Russian Federation within the framework of new sanctions against Russia, Bloomberg reports with reference to a document on the planned sanctions.
“The proposal of the European Commission provides for the termination of real estate transactions with Russian citizens, residents and legal entities, prohibiting the sale or transfer, directly or indirectly, of “ownership rights in real estate located in the territory of the Union, or shares in collective investment enterprises providing access to such real estate,” the agency writes.
The proposed ban applies to Russians who are not EU citizens and do not have a residence permit in the union countries. The measure does not apply to those who have citizenship or a residence permit in the European Economic Area or Switzerland.
Bloomberg notes that the measure itself will come into force if the corresponding proposal is approved by EU member states this week.
Earlier on Wednesday, the head of the European Commission, Ursula von der Leyen, said that among other sanctions proposed by the European Commission are the disconnection of three Russian banks, including Sberbank, from the SWIFT international payment system, a ban on broadcasting in the EU of three major state-owned Russian television channels, as well as a ban on providing Russian companies of services of a number of European specialists. In addition, the EC is proposing a phase-out of Russian oil imports, which von der Leyen said should take six months and be completed by the end of 2022.

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EUROPEAN COMMISSION WILL PRESENT A REPORT ON THE READINESS OF MOLDOVA, UKRAINE AND GEORGIA TO JOIN THE EU BY THE END OF JUNE

The European Commission will soon submit a report on the readiness of Moldova, Ukraine and Georgia to join the European Union, European Council President Charles Michel said.
“We discussed in detail the issues of EU enlargement a few months ago, at the conference in Versailles. After that, three countries applied for accession. We made a decision very quickly, instructing the European Commission to carry out work and prepare reports on these countries. We made a decision in a few days, although it usually took 8-9 months. By the end of June, the European Commission will publish this report, and we will decide how to proceed further,” Michel said at a joint press conference with Moldovan President Maia Sandu during a visit to Chisinau.
He stressed that the EU will continue to act promptly.
“We will act immediately to strengthen ties with Moldova, Ukraine and Georgia, to support them in the current difficult situation. This will be a political process in the context of how we see the development of the European Union. In the next two months, we will give a clear signal of what we want to enlarge the European Union,” the President of the European Council said.
For her part, Moldovan President Maia Sandu stressed that “European integration is the choice of the country, the choice of the people.” “On April 22, we submitted to Brussels the first part of our responses to the European Commission’s questionnaire. In the near future we will also pass on the second part. We understand that integration into the EU is a long process, we are not looking for short and easy ways. We intend to continue reforms. Most importantly – peace is needed for this, everything must be done to restore peace,” Sandu stressed.

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EU PROPOSES TO SUSPEND FOR 1 YEAR COLLECTION OF IMPORT DUTIES ON ALL UKRAINIAN EXPORTS

The European Commission (EC) has proposed to suspend for one year the collection of import duties on all Ukrainian exports to the European Union, the EC communiqué said on Wednesday.
“I discussed with President Zelensky ways to support the economy, in addition to the macro-financial assistance and grants that we provide. We both agree on the critical importance of a quick and wide suspension of import duties to boost the economy of Ukraine,” European Commission President Ursula von der Leyen was quoted in the message.
According to her, the suspension of duties “will greatly facilitate the export of Ukrainian industrial and agricultural goods to the EU.” She promised continued economic assistance to Kyiv.
The EC proposal also provides for the suspension for one year of all EU anti-dumping and safeguard measures in force against Ukrainian steel exports. This move, explained in Brussels, is designed to help increase Ukraine’s exports to the EU, which will alleviate the plight of Ukrainian producers and exporters in the current situation in the country.
“The EU has never before taken such trade liberalization measures, which are unprecedented in their scope: giving Ukraine access to the EU market with zero tariffs, zero quotas,” said Valdis Dombrovskis, Executive Vice President of the European Commission.
The European Commission points out that in the difficult conditions of the situation in Ukraine, the European Union wants to do everything possible to help the country “maintain its trade positions with the rest of the world and further deepen its trade relations with the EU.”
Brussels also reports that the EU is taking measures to facilitate land transport of goods to help export Ukrainian products outside the country. Thus, the European Commission has already begun liberalizing the conditions for Ukrainian truck drivers transporting goods between Ukraine and the EU, as well as actions to facilitate transit and use the EU infrastructure to direct Ukrainian exports to third countries.

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EU ALLOCATES ADDITIONAL €50 MLN FOR HUMANITARIAN AID FOR UKRAINIANS

The European Union is allocating an additional €50 million in humanitarian aid to support Ukrainians in need, according to the EU Humanitarian Projects Office.
“The EU is allocating another 50 million euros in humanitarian assistance to support Ukrainians in need. This new funding will provide emergency medical services, safe drinking water, shelters, cash assistance, support in the fight against gender-based violence,” reads a statement published in Sunday on twitter.
Later, the head of the European Union Delegation to Ukraine, Matti Maasikas, specified that the new aid package from the EU would be aimed at meeting the most pressing humanitarian needs.

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