Business news from Ukraine

Business news from Ukraine

Switzerland is expanding business participation in Ukraine’s reconstruction and allocating CHF 500 mln for private projects

On October 15, 2026, the Swiss city of Aarau hosted the “Wiederaufbau Ukraine” Export Forum, an economic forum dedicated to engaging Swiss companies in Ukraine’s reconstruction, developing bilateral trade, and implementing joint investment projects.

According to the Embassy of Ukraine in Switzerland, the event was organized by the Aargau Chamber of Commerce and Industry (AIHK). The forum was attended by representatives of the Ukrainian diplomatic mission, Swiss government agencies, the business community, and experts in international trade.

Representatives of the Swiss State Secretariat for Economic Affairs (SECO) and Switzerland Global Enterprise (S-GE) presented opportunities in the Ukrainian market, the experience of Swiss companies operating in Ukraine, and government mechanisms for supporting private investment.

In particular, Silvio Girou, SECO’s representative on infrastructure financing, and Xavier Cornu, a consultant at Switzerland Global Enterprise specializing in Europe and the CIS countries, addressed the participants.

The main focus was on engaging Swiss companies in the reconstruction of Ukraine’s infrastructure, expanding industrial cooperation, and utilizing financial instruments to support business. The forum also served as a platform for establishing direct contacts between Swiss entrepreneurs and representatives of organizations that facilitate international investment projects.

The event took place against the backdrop of the expansion of Switzerland’s government program to support the reconstruction of the Ukrainian economy.

According to the 2025–2028 cooperation program with Ukraine, the Swiss government has allocated over CHF1.5 billion to finance reconstruction, reforms, and sustainable development projects. Of this amount, CHF500 million is earmarked to support Swiss private-sector projects in Ukraine.

Specifically, on October 2, 2026, the Swiss Federal Council approved funding for eight additional projects by Swiss companies totaling CHF135 million. These projects relate to energy, public transportation, and water supply.

The projects were selected on a competitive basis with the participation of representatives from the Ukrainian and Swiss governments. Companies receiving funding must provide their own contribution of at least 10% of the project’s implementation cost.

In addition, on October 9, 2026, a bilateral agreement between Ukraine and Switzerland on cooperation in the reconstruction process entered into force. The document establishes a legal framework for expanding the participation of Swiss companies in the recovery of Ukraine’s economy and infrastructure.

A separate area of support involves financing investments in the creation and modernization of production facilities in Ukraine. In May 2026, SECO announced a call for proposals with a budget of up to CHF 50 million for Swiss companies already operating in the Ukrainian market. Support for an individual project ranges from CHF 3 million to CHF 10 million, provided that the company finances at least half of the project’s cost. The selection of such projects will continue until spring 2027.

According to the Embassy of Ukraine in Switzerland, developing cooperation with local chambers of commerce and industry and business associations creates additional opportunities to attract the investments, technologies, and equipment needed for the country’s reconstruction.

Switzerland Global Enterprise is the official Swiss organization for promoting exports and the international activities of businesses. It helps companies enter foreign markets, find business partners, and evaluate investment opportunities. SECO is responsible for implementing Switzerland’s economic policy and participates in financing international development and reconstruction programs.

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Ukraine has transferred 773 seed samples to Arctic seed vault in Norway to protect its agricultural gene pool

Ukraine has transferred 773 seed samples of ten agricultural crops from its national collection to the Global Seed Vault on the Svalbard archipelago in Norway.
The samples transferred to the Arctic seed vault include triticale, barley, buckwheat, millet, peas, white lupine, vetch, Sarepta mustard, alfalfa, and clover. These samples represent valuable genetic resources from Ukrainian plant breeding, which are essential for developing new varieties, adapting agriculture to climate change, and ensuring food security.
According to the National Academy of Agrarian Sciences of Ukraine (NAAS), the seeds were prepared by the V.Y. Yuryev Institute of Plant Growing and the Ustymiv Experimental Station of Plant Growing. Scientists selected the most valuable samples and ensured their testing, packaging, and documentation under wartime conditions.
“Preserving the national plant gene pool is a matter of our national security and ensuring food stability for future generations,” emphasized Taras Vysotsky, Minister of Agrarian Policy and Food of Ukraine, as quoted by SEEDS.
According to him, transferring the duplicate collection to an international repository will protect the unique achievements of Ukrainian plant breeders from risks associated with the war.
This transfer marks the second such event in Ukraine’s history. The previous deposit of Ukrainian seeds on Svalbard took place in 2012.
According to the Delegation of the European Union to Ukraine, these two transfers have ensured the backup storage of genetic material representing approximately 10% of the national seed collection.
Ukraine’s National Plant Genetic Bank contains over 154,300 samples of 2,002 plant species. Of these, approximately 56,900 samples are of Ukrainian origin. The collection includes genetic material from cereals, legumes, oilseeds, forage crops, and other agricultural crops.
Preserving this collection is of strategic importance for agricultural science. Genetic diversity enables breeders to develop new varieties that are resistant to drought, diseases, temperature fluctuations, and other adverse growing conditions.
Following the outbreak of full-scale war, Ukraine’s system for conserving genetic resources came under threat due to hostilities, damage to scientific infrastructure, and the risk of losing unique collections.
To protect the seeds, the Food and Agriculture Organization of the United Nations (FAO), with financial support from the European Union, implemented a program to establish backup storage facilities in collaboration with the National Academy of Agrarian Sciences of Ukraine (NAAS) and international partners.
As part of this initiative, 51,000 seed samples were evacuated to the western regions of Ukraine, and in November 2025, a permanent backup center was opened, equipped with modern laboratories and specialized infrastructure for the long-term storage of genetic material.
Storing part of the collection on Svalbard provided an additional layer of protection. In the event of damage to or loss of Ukraine’s primary collections, the backup samples can be used to restore genetic resources.
At the same time, the transferred seeds remain the property of Ukraine. The international repository ensures their storage without transferring ownership rights to the genetic material.
Ukraine has also acceded to the International Treaty on Plant Genetic Resources for Food and Agriculture, which entered into force for the country on August 12, 2026. This creates additional opportunities for international scientific cooperation and the protection of agricultural biodiversity.
The Svalbard Global Seed Vault is located on the Norwegian archipelago of Svalbard, above the Arctic Circle, and has been in operation since 2008. It was established for the long-term backup storage of genetic resources of agricultural plants from around the world.
According to the vault’s administration, as of 2026, it holds more than 1.4 million seed samples provided by gene banks and scientific institutions from various countries.
During the October 2026 ceremony, 21 research institutions from various regions of the world donated samples. In total, the repository received more than 16,000 new samples.
The project is supported by the Norwegian government, the Nordic Genetic Resource Center (NordGen), and the international organization Crop Trust. Its primary goal is to ensure the restoration of crop varieties in the event of wars, natural disasters, man-made disasters, or other threats to plant genetic diversity.
Sources: SEEDS, publication dated October 16, 2026; V. Ya. Yuryev Institute of Plant Growing, National Academy of Agrarian Sciences of Ukraine; Svalbard Global Seed Vault, announcement dated October 14, 2026.

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Ukraine Opens Honorary Consulate in Narva, Estonia, to Support Citizens and Businesses

On October 14, 2026, the Honorary Consulate of Ukraine was officially opened in the Estonian border city of Narva, headed by Estonian entrepreneur Allan Kaldoya. The new mission will help support Ukrainian citizens in northeastern Estonia, develop economic ties between the two countries, and expand cooperation at the regional level.
According to the Ukrainian Embassy in Estonia, the opening ceremony was attended by Ukrainian Ambassador Volodymyr Boiechko, Narva Mayor Jaan Toots, Estonian Deputy Minister of Foreign Affairs for Political Affairs Martin Roger, as well as representatives of local authorities, the Ukrainian community, and volunteer organizations.
According to Boiechko, the opening of the consulate will strengthen Ukraine’s diplomatic presence in the eastern regions of Estonia and create additional opportunities to support Ukrainians living in Narva and Ida-Viru County.
“Today we are continuing this work here in Narva, bringing Ukraine closer to our citizens and friends throughout Estonia,” the ambassador noted, recalling the opening of the Honorary Consulate of Ukraine in Tartu at the end of September.
One of the new mission’s priority areas of activity will be the development of business contacts. In particular, the consulate will help entrepreneurs in Narva and Ida-Viru County establish partnerships with Ukrainian companies, obtain information about opportunities in the Ukrainian market, and foster economic cooperation.
Ukrainian companies will also be able to turn to the Honorary Consulate to find potential partners in the region, develop trade relations, and implement joint projects.
Special attention will be given to supporting Ukrainian citizens. The Honorary Consulate will provide informational and organizational assistance regarding documentation, interactions with Ukrainian diplomatic missions, and communications with the relevant Estonian authorities.
In addition, the consulate’s premises will be used for periodic on-site consular services for Ukrainians provided by staff of the Embassy of Ukraine in Tallinn.
The office is located at 2 Linda Street, Narva.
The new consulate’s activities will include cultural and educational cooperation, the organization of joint events, the development of community ties, and support for Ukrainian initiatives in Estonia.
Narva is Estonia’s third-most populous city and is located directly on the border with Russia. The city is part of Ida-Viru County, which has industrial potential and traditionally plays an important role in the country’s energy sector and cross-border trade.
Honorary consulates are institutions that represent the interests of the state abroad and contribute to the protection of its citizens and the development of trade, economic, and cultural relations. Unlike regular consular offices, honorary consulates usually have limited authority to issue official documents.
Sources: Embassy of Ukraine in the Republic of Estonia, official website of the city of Narva, October 15, 2026.

 

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Ukraine Connected 1.9 GW of New Power Capacity in 9 Months

In Ukraine, 1.9 GW of new power capacity was connected in the first nine months of 2026, which accounts for more than 80% of the annual target, according to Viktor Mikita, deputy head of the Office of the President of Ukraine.
“At this point, we have reached 1.9 GW of connected capacity. This is more than 80% of the annual target,” Mykyta wrote on his Telegram channel following a meeting with the heads of regional military administrations.
According to him, the meeting focused primarily on local efforts to increase connected capacity and strengthen the regions’ energy resilience. Local communities are working to develop a decentralized power generation system with the participation of businesses and investors.
Specifically, during the period in question, more than 620 MW of wind power capacity, more than 520 MW of cogeneration capacity, as well as more than 460 MW of solar power capacity and more than 270 MW of solar power capacity from private households were connected to the grid.
“People continue to install off-grid power systems for their homes, and this trend remains strong. We thank the heads of regional state administrations, local communities, businesses, and others for their work in each individual region, which is so important for the country,” the deputy head of the Presidential Office said on Friday.

 

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U.S. Will Continue to Ease Sanctions Against Russia — Zelenskyy

The U.S. will continue to take steps to ease sanctions against Russia, according to Ukrainian President Volodymyr Zelenskyy.

“Unfortunately, the lifting of sanctions will continue. I believe that the diesel deal is the first step. Unfortunately, it seems to me that this will not stop Putin; on the contrary, he feels joy and happiness from having such support. And yet we very much hope—I personally hope—that the President of the United States will do everything possible to ensure that Putin stops the killings, stops the attacks on our energy sector, and ends this war,” Zelenskyy said, responding to questions from journalists on Saturday.

He emphasized that “this cannot be achieved by limiting Ukraine’s countermeasures against Russia, which is killing our people, and certainly not by lifting sanctions.”

The president noted that the Ukrainian side had not received any warnings that the sanctions would be suspended or about the “diesel deal,” and “in the same way, we learned from the media about the possibility of an energy truce.”

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Ukraine will switch to standard time on October 25 despite law passed by Verkhovna Rada to abolish it

On the night of October 24–25, 2026, Ukraine will switch to standard time by setting clocks back one hour. At 4:00 a.m. Kyiv time, the clocks must be set back to 3:00 a.m., in accordance with the current Cabinet of Ministers Resolution No. 509 of May 13, 1996.
Thus, Sunday, October 25, will last 25 hours, and Ukraine will switch from daylight saving time (UTC+3) to standard time (UTC+2).
Most modern smartphones, computers, and other electronic devices will adjust the time automatically, provided the time zone is set correctly. Mechanical watches and some electronic devices will need to be adjusted manually.
A distinctive feature of this year’s transition is the uncertainty surrounding the abolition of the seasonal time change. Back on July 16, 2024, the Verkhovna Rada adopted Bill No. 4201 “On the Calculation of Time in Ukraine,” which provides for the elimination of the annual switch to daylight saving time and the adoption of a permanent Kyiv time of UTC+2.
The bill was supported by 261 members of parliament. On August 21, 2024, it was sent to Ukrainian President Volodymyr Zelenskyy for his signature. However, as of October 2026, the law has not been signed and has not entered into force.
Therefore, a government resolution remains in effect in Ukraine, under which clocks are adjusted twice a year: one hour forward on the last Sunday in March and one hour back on the last Sunday in October.
Along with Ukraine, most European countries—including Poland, Germany, the Czech Republic, Hungary, Serbia, and Montenegro—will switch to standard time on October 25.
At the same time, the time difference between Ukraine and Central European countries will remain unchanged. Specifically, Kyiv will be one hour ahead of Warsaw, Belgrade, and Budapest.
The switch to standard time means that it will get light earlier in the morning according to the clock, but it will get dark about an hour earlier in the evening.
Under current rules, Ukraine’s next switch to daylight saving time is scheduled for March 28, 2027, unless the law is amended before then.

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