Business news from Ukraine

Business news from Ukraine

Erdogan stated that Turkey is working to bring war between Russia and Ukraine to an end

Turkish President Recep Tayyip Erdogan stated that Turkey is working to bring the war between Russia and Ukraine to an end with a lasting peace, and is also working to resume negotiations and revitalize the diplomatic process.

According to a post by the Turkish president’s public relations office on social media platform X on Monday, Erdogan made these remarks during a phone call with German Federal Chancellor Friedrich Merz.

Erdogan also expressed hope during the conversation that the NATO leaders’ summit, to be held in Ankara, would demonstrate a firm commitment to strengthening Europe’s own defense within the framework of NATO and preserving transatlantic ties, the statement said.

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Getmantsev promises not to change single tax system until end of war

The existence of two value-added tax (VAT) exemption thresholds within a single VAT system is an anomaly that must be eliminated, but this decision will have to be made immediately after martial law ends, according to Danylo Getmantsev, head of the parliamentary committee on finance, tax, and customs policy.

“I promised the people that I would not change the single tax system until the end of the war. And I am keeping that promise. As you can see, the law has not been adopted. You have not heard me support it in the version proposed by the Ministry of Finance,” he said in an interview with the “Interfax-Ukraine” news agency.

According to the committee chair, the next session of the Verkhovna Rada will decide on a single tax limit, and for them, there will be no alternative.

Getmantsev emphasized that, overall, Ukraine needs to implement a reform of personal income taxation, part of which is the reform of the single tax, and noted that this is provided for in the National Revenue Strategy for 2024–2030.

“We must implement the Polish flat-rate tax model: cash registers from the start, turnover limits of up to EUR2 million, and a single VAT threshold for both sole proprietors and others. The specific amount can be discussed, but it must be uniform. And within the framework of the flat-rate tax, there should be different rates for different types of activities,” the committee chair noted.

In Poland, the VAT exemption threshold was raised this year from 200,000 to 240,000 zlotys, which is approximately EUR56,600, or nearly 3 million hryvnias.

According to Getmantsev, the rate is 3% for retail trade and 10% or higher for services.

“We simply need to follow Poland’s example and make such a serious, correct decision once and for all. But that will have to wait until after the war,” he added.

The committee chair also believes that all these changes must be implemented at once, rather than gradually “chipping away at the problem piece by piece,” because that is an entirely unproductive approach.

“I cannot support any half-measures, because in reality they generate just as much negativity and backlash as major decisions and reforms, but with far less impact. Therefore, after the war, there must be a major reform of personal income taxation, including the flat tax. Incidentally, a progressive tax scale is also provided for there. This is the right decision, and I strongly support it,” Getmantsev noted.

At the same time, he supported the adoption this year of a law to simplify VAT administration, the text of which is currently expected from the Ministry of Finance.

“I believe that until the threshold for sole proprietors is reached—for example, EUR2 million based on the Polish model—tax invoices should not be blocked at all, even if VAT is paid. In other words, the rules for blocking tax invoices should not apply to sole proprietors until they reach the single tax threshold. And there are many other measures that simplify administration,” said the head of the relevant parliamentary committee, among other things.

As previously reported, the adoption by the end of March of this year of a law abolishing the VAT exemption under the simplified tax system was a condition of the new program with the International Monetary Fund (IMF), launched at the end of February of this year. It was later reported that the deadline for fulfilling this requirement had been postponed by approximately one year.

In addition, at the end of May, the Verkhovna Rada ratified the terms for providing Ukraine with macro-financial assistance as part of a loan from the European Union to support Ukraine. Under these terms, a bill containing measures to reform the preferential tax regime must be submitted to parliament by the end of the year, which will generate additional revenue of at least 70 billion hryvnia per year.

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Ukrainian Red Cross Disbursed 94.8 Mln UAH in Aid Over Two Months

The Ukrainian Red Cross (URC) disbursed over 94.7 million UAH in cash assistance to vulnerable groups over two months

“Between April and May 2026, the Ukrainian Red Cross provided cash assistance to 7,896 people in frontline and war-affected communities, totaling 94,798,790.5 UAH.”

Support is provided to the most vulnerable people living within 50 km of the front line or affected by the war, particularly in the Kharkiv, Zaporizhzhia, Donetsk, Mykolaiv, Dnipropetrovsk, Chernihiv, Kherson, Sumy, and Odesa regions.

Financial assistance was provided to individuals with Group I and II disabilities, parents of children with disabilities, single mothers and fathers, single pensioners, households consisting exclusively of elderly people, as well as large families. Support was also provided to evacuees who were forced to leave their homes due to active hostilities and shelling. Assistance was also provided to people affected by shelling—due to damage or destruction of their homes, injuries, or the death of family members.

As reported, effective April 1, 2026, the Ukrainian Red Cross adopted a new approach to providing cash assistance to the population affected by the war. General-purpose cash assistance was replaced by targeted cash assistance, allowing for more tailored support to individuals based on their needs and life circumstances.

The Ukrainian Red Cross is implementing this program with support from the U.S. government, the Danish and Norwegian Red Cross, and the International Federation of Red Cross and Red Crescent Societies.

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97–98% of war crimes cases in Ukraine are heard in absence of accused – Director of Human Rights Institute of Ukrainian Bar Association

Around 97–98% of war crimes cases in Ukraine are heard in absentia, that is, without the defendant being present, Inna Linyova, director of the Human Rights Institute of the Ukrainian Bar Association, said in an interview with the Interfax-Ukraine news agency.

According to her, this mainly concerns cases where the accused Russian serviceman is in the Russian Federation or in temporarily occupied territory, and Ukrainian investigative and judicial authorities are conducting proceedings without his physical presence.

Lynova emphasised that trials in absentia are permitted under international standards, but in such proceedings it is particularly important to ensure all guarantees of the right to a defence. Otherwise, Ukraine may face serious legal and reputational risks.

“Such a trial in the absence of the accused is permissible under international standards, but in such cases it is particularly important to ensure that the rights of the accused are protected,” she noted.

According to Linyova, problems with the quality of defence were observed in a number of proceedings: lawyers could be passive, fail to file motions, fail to examine evidence, and effectively limit themselves to a formal presence in the proceedings. In some cases, defence lawyers even used derogatory terms in relation to their clients, which contradicts the very essence of the right to defence.

The Director of the Human Rights Institute of the Ukrainian Bar Association emphasised that effective defence of those accused in war crimes cases is needed not to exonerate criminals, but to protect the interests of Ukraine itself. If the trials comply with international standards, this will strengthen Ukraine’s position as a state governed by the rule of law and reduce the risk of subsequent challenges to the verdicts in international courts.

Since July 2023, the Ukrainian Bar Association has been implementing an initiative to monitor court hearings and analyse court decisions in cases of war crimes. According to Linyova, these trials are the focus of the international community’s attention, as they relate not only to the punishment of the guilty but also to the future compensation system, the restoration of justice and Ukraine’s international reputation.

According to the Office of the Prosecutor General, the number of registered criminal offences classified as war crimes is rising rapidly. By the end of May 2024, there were 129,065 cases; by September 2025, 179,803; and by 16 April 2026, 221,929.

The Ukrainian judicial system is thus facing a massive challenge: it must simultaneously document crimes, ensure the punishment of the guilty and uphold the standards of a fair trial, even in cases that attract significant public attention.

Source: https://interfax.com.ua/news/interview/1173975.html

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Book on War in Ukraine Named “Book of Year” in Poland

According to the Interfax-Ukraine Culture project, the novel “Null” (“Zero”) by Polish writer Szczepan Twardoch, dedicated to the war in Ukraine, won in the “Fiction” category of the Książka Roku 2025 reader poll on the Polish platform Lubimyczytać, as reported on the platform’s website .

“The novel ‘Null’ is a story about war, memory, and what war does to a person,” note the organizers of the Książka Roku poll on the Lubimyczytać platform

The Lubimyczytać announcement notes that this year, readers cast 277,259 votes across 16 categories, and the winners were announced during a ceremony at the International Book Fair in Poznań.

In the fiction category, Twardoch’s novel beat out Valérie Perrin’s “Colette” and Jakub Malecki’s “Obiekty głębokiego nieba.” The “Null” platform describes it as a painfully contemporary story about the war in Ukraine, which was initially conceived as an essay for a German publisher but later evolved into a full-fledged novel.

As the poll organizers note, the book combines themes of war, historical memory, and the human experience of history, and raises questions about what war does to a person. This is not Twardoch’s first such recognition: last year, his novel “Korowód” won in this same category. In addition, “Null” previously also received an award as an Empik network bestseller.

The novel was published in February 2025 by Marginesy. Translations into German, Slovak, and Belarusian have since appeared, and the Ukrainian translation is being prepared by the publishing house “Fabula.”

Szczepan Twardoch is one of the most famous contemporary Polish writers, and his books have already been published in Ukrainian in Ukraine. In 2024, the writer was honored with the Stand with Ukraine Award for his support of Ukraine: following the start of Russia’s full-scale invasion, he has been involved in humanitarian and volunteer aid, and he refused permission to publish his novel *The King* in Russia until the war ends.

As reported, on March 16, the DTEK photo exhibition “Do Svitla / Into the Light” will open at the “Sens” bookstore on Khreshchatyk in Kyiv. The exhibition is dedicated to one of the harshest winters Ukraine has endured during the war, as well as to the people who helped the country survive, according to the bookstore’s press service.

https://interfax.com.ua/news/culture/1151986.html

 

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War in Iran will raise prices for many goods – analysis by Experts Club

The escalation of the war around Iran has already gone beyond a regional conflict and has become a factor in global inflation. On March 9, Brent rose above $119 per barrel intraday, its highest level since 2022, and IMF chief Kristalina Georgieva warned that a sustained 10% increase in oil prices could add about 0.4 percentage points to global inflation. The scale of the risk is also explained by logistics: in 2024, about 20 million barrels of oil per day passed through the Strait of Hormuz, which is approximately 20% of global liquid hydrocarbon consumption.

For Ukraine, the fastest channel for transmitting such a shock is the fuel market. After losing a significant part of its own refining capacity, the country relies on imports: in 2024, Ukraine imported about 1.2 million tons of gasoline, and in January-September 2025, imports of petroleum products reached 5.67 million tons. Even before the current price surge, the market remained sensitive to logistics and external conditions: The NBU noted an acceleration in the growth of prices for gasoline, diesel, and liquefied gas due to supply disruptions, and Reuters reported that in January 2026, gasoline imports grew by 70% year-on-year due to a shortage of domestic production. This makes gasoline, diesel, and autogas the most likely first group of goods to react to a protracted oil shock.

“If the conflict around Iran drags on, Ukraine will feel it almost immediately through rising fuel costs, and then through higher logistics, import, and food prices. For our economy, this is not only an external shock, but also additional inflationary pressure on the domestic market,” says Maksim Urakin, founder of the Experts Club analytical center and candidate of economic sciences.

The second vulnerable group is imported products with long logistics and a high share of transport costs. In 2025, Ukraine increased its imports of agri-food products by 13% to $9.12 billion, with the EU’s share exceeding 53.9%. The largest items in the procurement structure were fruits, berries, and nuts ($1 billion), fish and seafood ($999 million), alcoholic and non-alcoholic beverages ($870 million), cocoa products ($640 million), coffee, tea, and spices ($471 million), and vegetables ($467 million). It is these categories — from bananas and citrus fruits to coffee, chocolate, and seafood — that are most sensitive to increases in freight, fuel, refrigerated logistics, and dollar-denominated commodity prices.

“Consumers will feel the price increases most noticeably where there is a large share of imports and transportation costs. First and foremost, this concerns fuel, coffee, chocolate, fish, seafood, and fruit, and a little later, goods whose prices include more expensive fertilizers, gas, and packaging,” Urakin noted.

The third risk area is fertilizers and then Ukrainian-produced food. There has already been an increase in prices not only for oil and gas, but also for sugar, fertilizers, and soybeans following the escalation around Iran. At the same time, European gas prices jumped by 35-40% in early March, and the EU convened a coordination group on gas supplies. This is doubly sensitive for Ukraine: the NBU previously estimated the need for gas imports in 2026 at $1.1 billion after $2.9 billion in 2025, and fertilizer imports in 2025 rose to 3.285 million tons.

According to GIZ estimates, Ukraine’s dependence on nitrogen fertilizer imports has already exceeded 60%. This means that if oil and gas prices remain high for a long time, in a few months the pressure may shift to the cost of grain, greenhouse vegetables, milk, meat, and other food products.

Products linked to petrochemicals and metals deserve special mention. Oil is a basic raw material for a wide range of chemical products, and Reuters has already noted that aluminum prices have risen to a four-year high amid the current conflict. This increases the risk of price increases for plastic packaging, household chemicals, paints, certain types of cosmetics, tires, PVC materials, and some construction products. The same applies to bitumen, a direct petroleum product, whose imports to Ukraine, according to industry estimates, will remain significant in 2026.

The currency factor could be an additional amplifier. Against the backdrop of the war, investors are turning to the dollar as a safe haven asset. This is important for Ukraine because oil, gas, coffee, cocoa, fertilizers, and a significant portion of other imports are denominated in dollars, and the EU remains the country’s largest trading partner, accounting for more than 50% of trade in goods. Even without a physical deficit, this increases the risk of more expensive imports in hryvnia.

However, not all goods will react equally quickly. Basic products, where Ukraine remains a major producer — primarily wheat, corn, and sunflower oil — are less dependent on immediate imports, and the wheat and corn harvest in 2025 turned out to be better than early expectations.

Therefore, in the short term, fuel, imported fruits and seafood, coffee and chocolate, fertilizers, chemicals, and some construction materials are likely to see the sharpest price increases. But if the energy shock drags on, the rise in logistics costs will almost inevitably begin to seep into the prices of Ukrainian-made goods.

Source: https://expertsclub.eu/vijna-v-irani-pidnime-cziny-na-palyvo-ta-import-analiz-tovariv/

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