Section: Economy

      Gazprom increases claims to Naftogaz to $37 bln
      Apr29

      Gazprom increases claims to Naftogaz to $37 bln

      Russia`s gas monopoly Gazprom has increased from $31.7 billion to $37 billion its claims in Stockholm Arbitration against National oil and gas holding company Naftogaz of Ukraine, according to RIA Novosti, referring to Gazprom`s report. The Arbitration Institute of the Stockholm Chamber of Commerce is expected to hand down the ruling on claims of...

      Russia develops bills to turn occupied Crimea into offshore jurisdiction
      Apr28

      Russia develops bills to turn occupied Crimea into offshore jurisdiction

      Russia`s State Duma is preparing a package of bills, initiated by Deputy Chairman of the House Foreign Affairs Committee Alexei Chepa (”Fair Russia”), on the introduction of an offshore regime in the annexed Crimea, according to Kommersant publication. In addition to expanding tax benefits, the amendments propose a mechanism for creating trusts...

      EU launches EUR 6 mln project: “Model police stations” in 20 Ukrainian districts
      Apr28

      EU launches EUR 6 mln project: “Model police stations” in 20 Ukrainian districts

      The EU on Thursday launched a EUR 6 million project with the name `Support to Police Reform in Ukraine” (SPRU), which will strengthen community policing in 20 police districts in mid-sized towns in Kyiv, Kharkiv and Lviv regions and support the reform of public order policing in Ukraine, according to the Press and Public Information Office of the...

      Gazprom says Poland`s PGNiG files monopoly complaint to EU – media
      Apr27

      Gazprom says Poland`s PGNiG files monopoly complaint to EU – media

      Polish gas company PGNiG has filed a complaint to the European Commission alleging monopoly breaches by Gazprom, the Russian gas giant said on Thursday, according to Reuters. Gazprom said in its financial report for 2016 the Polish company filed the complaint on March 14, citing Gazprom`s ”unjust” pricing policy towards PGNiG and hindering of...

      Ukraine`s National Bank may lose some $82 mln due to lawsuits
      Apr27

      Ukraine`s National Bank may lose some $82 mln due to lawsuits

      The National Bank of Ukraine (NBU) could sustain UAH 2.2 billion, or US$ 82.3 million, in losses because of lawsuits filed against the regulator, according to the NBU`s consolidated financial statements for 2016. Meanwhile, the regulator notes that the likelihood of such losses is low. ”There is a probability of possible loss on some claims...

      Naftogaz to cut gas prices for industry from May 1
      Apr26

      Naftogaz to cut gas prices for industry from May 1

      National oil and gas holding Naftogaz of Ukraine from May 1, 2017, will lower by 2.8% the minimum price of natural gas sold to industrial consumers from UAH 7,675 per 1,000 cubic meters in April 2017 to UAH 7,456.8 per 1,000 cubic meters, the company said in a statement. At the same time, the maximum price of natural gas for industrial consumers...

      Ukraine boosts grain exports by 52 pct in March – Reuters
      Apr26

      Ukraine boosts grain exports by 52 pct in March – Reuters

      Ukraine boosted its grain exports to 4.54 million tonnes in March up 52 percent from 2.98 million tonnes in February thanks to record sales of maize, analyst UkrAgroConsult said on Wednesday, according to Reuters. The maize shipments jumped to 3.1 million tonnes in March, the highest so far for the 2016/2017 marketing year that runs from July to...

      Ukraine offers China Railways to invest in subway, bridge and high-speed rail link
      Apr26

      Ukraine offers China Railways to invest in subway, bridge and high-speed rail link

      The Ukrainian government on Tuesday offered China Railway International Group (CRIG) a number of infrastructure investment opportunities, including the fourth line of the Kyiv Metro and the construction of a bridge, the Ministry of Economic Development and Trade wrote on Twitter, Global Construction Review reports. The ministry published two...

      Polish gas worth $48.8 mln to be supplied to Ukraine by private company
      Apr26

      Polish gas worth $48.8 mln to be supplied to Ukraine by private company

      Private energy company Eru Trading, a subsidiary of Energy Resources of Ukraine, together with the Polish oil and gas company PGNiG in 2017 will supply 218 million cubic meters of gas worth UAH 1.3 billion, or US$48.8 million, for the needs of the state-owned operator of Ukraine`s gas transportation system Ukrtransgaz, according to the PGNiG...

      So-called Yalta Forum unlikely to bring investment to sanctioned Crimea – European Commission
      Apr25

      So-called Yalta Forum unlikely to bring investment to sanctioned Crimea – European Commission

      Unlawful ”international” events, like a recent economic forum in Yalta in Russia-occupied Crimea, which took place on April 20-22, will not bring foreign investment to the peninsula as it is under sanctions, according to a representative of the European Commission. ”The EU does not recognize the illegal annexation of Crimea and Sevastopol by the...