Business news from Ukraine

RUSSIAN-AMERICAN SUMMIT IN GENEVA ON JUNE 16 TO LAST FIVE HOURS

The Russian-American summit in Geneva on June 16 will last five hours, according to the protocol program.
Russian President Vladimir Putin’s arrival at the Villa La Grande and a joint photo session with United States President Joe Biden and Swiss President Guy Parmelin are scheduled for 1:00 p.m. local time, according to documents released by the Kremlin press service ahead of the event.
The conversation between the U.S. and Russian presidents on the ground floor in a library is due to begin at 1:15 p.m.
The Russian-U.S. talks in an expanded format are schedule to begin at 2:30 p.m.
These talks will resume after a break at 4:15 p.m.
The Russian president’s press conference is due to begin at 6:00 p.m.

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US PROVIDES $155 MLN TO SUPPORT UKRAINE’S DEVELOPMENT

The United States announced that it will provide $155 million in additional development funding to Ukraine through the U.S. Agency for International Development (USAID) to improve the lives of the Ukrainian people, the U.S. Embassy in Ukraine said on Tuesday.
“The additional resources will be used to address key development challenges in Ukraine, including: support economic growth and improve health of Ukrainians some $34 million; enhance anti-corruption efforts some $14 million; counter Russian aggression some $63 million; strengthen democracy and governance some $44 million,” the embassy said in the statement.
The first article provides support of Ukraine’s recovery from coronavirus (COVID-19) pandemic by improving essential health services; improvement of transparency and expansion of economic opportunities in energy, agriculture and finance to increase investor confidence, attract investment and improve economic investment in the agrarian sector.
Enhancing anti-corruption measures includes strengthening reforms and safeguard anti-corruption institutions to counter entrenched interests and ensure all of Ukraine’s resources benefit the Ukrainian people; reducing corrupt practices in the health sector and facilitate Ukraine’s purchases of vital medicines to reduce informal payments by patients and provide access to less expensive, quality medicines; supporting the continued development of online e-government platforms that simplify access to services and streamline how Ukrainians receive their pensions, unemployment benefits, and more.
Countering Russian aggression are planned to be used to human rights and ensure access to justice for the Ukrainians affected by Kremlin-backed aggression in the Crimea and Donbas; reduce Ukraine’s energy and economic dependence on Russia by advancing connections to Europe’s energy grid and strengthening businesses in the East; expand citizen access to high-quality, unbiased information to counter malign influence and disinformation, support European integration, and strengthen democratic processes.
Strengthening democracy and governance involves expanding judicial reform; strengthening consolidated communities and expand quality service provision to their residents to advance Ukraine’s decentralization reform efforts; encouraging youth leadership and innovation.

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USA IMPOSES SANCTIONS AGAINST KOLOMOISKY, HE, HIS IMMEDIATE FAMILY BANNED FROM ENTERING UNITED STATES

U.S. Secretary of State Antony Blinken has announced sanctions against oligarch and former Ukrainian official Ihor Kolomoisky due to his involvement in major corruption.
“This designation is made under Section 7031(c) of the Department of State, Foreign Operations, and Related Programs Appropriations Act, 2020. In addition to Ihor Kolomoisky, I am publicly designating the following members of Ihor Kolomoisky’s immediate family: his wife, Iryna Kolomoiska, his daughter, Andzelika Kolomoiska, and his son, Israel Zvi Kolomoisky. This action renders Ihor Kolomoisky and each of these members of his immediate family ineligible for entry into the United States,” Blinken said in a statement released by on the website of the U.S. Department of State on Friday.
Blinken said that in his official status as the head of Dnipropetrovsk region of Ukraine from 2014 to 2015, Kolomoisky was involved in corrupt acts that undermined rule of law and the Ukrainian public’s faith in their government’s democratic institutions and public processes, including using his political influence and official power for his personal benefit.
“While this designation is based on acts during his time in office, I also want to express concern about Kolomoisky’s current and ongoing efforts to undermine Ukraine’s democratic processes and institutions, which pose a serious threat to its future,” the secretary of state said.
“This designation reaffirms the U.S. commitment to supporting political, economic, and justice sector reforms that are key to Ukraine’s Euro-Atlantic path. The United States continues to stand with all Ukrainians whose work drives reforms forward. The Department will continue to use authorities like this to promote accountability for corrupt actors in this region and globally,” Blinken said.
Aforementioned Section 7031 of the Department of state, Foreign Operations and Related Programs Appropriations Act gives the Secretary of State the power to deny entry to the United States of foreign government officials and their immediate family members, in respect of whom there is reliable information that they are involved in significant corruption (including related to the extraction of natural resources) or in gross violation of human rights.
An exception may be entry into the United States if it will contribute to the achievement of important goals of the U.S. law enforcement agencies or occurs within the UN Headquarters Agreement.

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US IMPOSES SANCTIONS AGAINST FORMER UKRAINIAN OFFICIAL IHOR KOLOMOISKY

U.S. Secretary of State Antony Blinken has announced sanctions against oligarch and former Ukrainian official Ihor Kolomoisky due to his involvement in major corruption.
“This designation is made under Section 7031(c) of the Department of State, Foreign Operations, and Related Programs Appropriations Act, 2020. In addition to Ihor Kolomoisky, I am publicly designating the following members of Ihor Kolomoisky’s immediate family: his wife, Iryna Kolomoiska, his daughter, Andzelika Kolomoiska, and his son, Israel Zvi Kolomoisky. This action renders Ihor Kolomoisky and each of these members of his immediate family ineligible for entry into the United States,” Blinken said in a statement released by on the website of the U.S. Department of State on Friday.
Blinken said that in his official status as the head of Dnipropetrovsk region of Ukraine from 2014 to 2015, Kolomoisky was involved in corrupt acts that undermined rule of law and the Ukrainian public’s faith in their government’s democratic institutions and public processes, including using his political influence and official power for his personal benefit.
“While this designation is based on acts during his time in office, I also want to express concern about Kolomoisky’s current and ongoing efforts to undermine Ukraine’s democratic processes and institutions, which pose a serious threat to its future,” the secretary of state said.
“This designation reaffirms the U.S. commitment to supporting political, economic, and justice sector reforms that are key to Ukraine’s Euro-Atlantic path. The United States continues to stand with all Ukrainians whose work drives reforms forward. The Department will continue to use authorities like this to promote accountability for corrupt actors in this region and globally,” Blinken said.
Aforementioned Section 7031 of the Department of state, Foreign Operations and Related Programs Appropriations Act gives the Secretary of State the power to deny entry to the United States of foreign government officials and their immediate family members, in respect of whom there is reliable information that they are involved in significant corruption (including related to the extraction of natural resources) or in gross violation of human rights.
An exception may be entry into the United States if it will contribute to the achievement of important goals of the U.S. law enforcement agencies or occurs within the UN Headquarters Agreement.

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U.S. STATE DEPARTMENT REPRESENTATIVE FOR UKRAINE TO BE RETURNED

Oleksiy Arestovych, non-staff advisor to the Head of the President’s Office on strategic communications in the field of national security and defense, announced the planned return of the post of special representative of the State Department of the United States for Ukraine, which was occupied by Kurt Walker in 2017-2019.
“There is strong support, so far informal, from Britain and the United States. The talk is about the fact that there will be a new United States special envoy for Donbas, that is, this post is institutionally returning. There are several statements by the French and German Foreign Ministries that Ukraine is making strong consistent steps on the implementation of agreements, and Russia is not doing this,” Arestovych told reporters after the press conference at the Interfax-Ukraine agency in Kyiv on Thursday.
He also said that the future administration of United States President-elect Joe Biden is already considering the possibility of introducing tougher sanctions against the Russian Federation. “In the future Biden administration, many people say informally that sanctions will be imposed on Russia, which do not constrain, but cripple, break. Many people say that for every death of our soldier, artillery fire should be opened,” Arestovych said.
In addition, he said that on December 10, a meeting will be held at the level of the heads of EU states, where sanctions against the Russian Federation will be automatically extended. “The point is that they may even be strengthened after this demarche, after Russia once again showed that it is a state that does not fulfill international agreements at the highest level. Putin actually signed these agreements in Paris, and who did not fulfill them? President Zelensky gave a year to fulfill them. Who is to blame? The Russians,” the advisor said.
Arestovych said that Russia accuses France and Germany, the participants of the Normandy format, of playing the role of mediator in an inappropriate way and playing along with Ukraine. “In fact, Russia wants to get out not only from Minsk, but also from the Normandy format now,” he said.

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GREEN CARD PREMIUMS IN UKRAINE 29.8% DOWN, NUMBER OF CONTRACTS 45% DOWN IN TEN MONTHS

Accrued insurance premiums under Green Card international insurance contracts concluded by the member companies of the Motor (Transport) Insurance Bureau of Ukraine (MTIBU) in January-October 2020 decreased by 29.82% compared to the same period in 2019, to UAH 1.007 billion.
As the MTIBU reported on the website, the number of Green Card agreements concluded during this period fell by 44.99%, to 511,528.
At the same time, the amount of compensations paid on claims increased by 14.79%, to EUR14.3 million, while the number of claims paid by 6.61%, to 5,049.
The MTIBU is the only association of insurers that provide compulsory insurance of civil liability of land vehicle owners for damage caused to third parties.

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