Section: Economy

      Russia set to play awkward guest at European Bank for Reconstruction and Development party
      May09

      Russia set to play awkward guest at European Bank for Reconstruction and Development party

      Prickly relations with Russia and lagging reforms in Ukraine risk souring the mood for the European Bank for Reconstruction and Development as it holds its annual meeting this week against a mostly cheerful background of quickening global growth, according to Reuters. Doubts persist over Ukraine`s progress in tackling corruption and cleaning up...

      Ukraine`s underground gas stocks reach 8.7 bcm
      May08

      Ukraine`s underground gas stocks reach 8.7 bcm

      Stocks of natural gas at Ukraine`s underground storage facilities grew by 3.9%, or 327 million cubic meters (mcm), from 8.397 billion cubic meters (bcm) of gas from April 29 till May 6, to 8.724 bcm of gas, according to Ukrtransgaz, operator of Ukraine`s gas transport system. The amount of gas pumped daily into the USFs, as of May 6 was at 53.6...

      Construction of TurkStream gas pipeline`s offshore section commenced – Gazprom
      May08

      Construction of TurkStream gas pipeline`s offshore section commenced – Gazprom

      Construction of the TurkStream gas pipeline was commenced on Sunday in the Black Sea near the Russian coast, Russian energy giant Gazprom said in a release. Pipelaying is carried out by the Audacia vessel owned by Allseas, the construction contractor for both strings of the gas pipeline`s offshore section. The vessel will be also used for pipe...

      Oil rises on prospect that output cut could extend beyond 2017
      May08

      Oil rises on prospect that output cut could extend beyond 2017

      Oil prices rose on Monday as Saudi Arabia`s energy minister said an OPEC-led production cut scheduled to end in June would likely be extended to cover all of the year, or even into 2018, although another increase in U.S. drilling capped gains, according to Reuters. Brent crude futures were at $49.48 per barrel at 06:52 GMT (2.52 a.m. ET), up 38...

      Ukraine`s international reserves rise to $17.2 bln
      May08

      Ukraine`s international reserves rise to $17.2 bln

      Foreign exchange reserves of Ukraine as of May 1, 2017, amounted to US$17.175 billion, which is by $2.052 billion, or 13.57%, more than on April 1, as reported by the National Bank of Ukraine with reference to preliminary data. The April growth of reserves was mainly due to the disbursements made by the International Monetary Fund and other...

      4 countries join Council of Europe decision on extending Russia sanctions
      May07

      4 countries join Council of Europe decision on extending Russia sanctions

      Ukraine, Montenegro, Albania and Norway have aligned themselves with the Council of Europe Decision on extending restrictive measures against Russia, that`s according to a declaration by EU High Representative for Foreign Affairs Federica Mogherini on behalf of the EU. The sanctions in question were imposed against Russia over its actions...

      Russia suspends liquefied petroleum gas exports to Ukraine again – traders
      May07

      Russia suspends liquefied petroleum gas exports to Ukraine again – traders

      Russian exporters have suspended liquefied petroleum gas (LPG) exports to Ukraine for the second time in a month because Russia`s regulator has not given clearance for the shipments, traders said on Thursday, according to Reuters. Russia restricted LPG exports to Ukraine in early April for a few days citing concerns it could be used for military...

      Western Union stops money transfers from Russia to Ukraine without opening bank account – media
      May07

      Western Union stops money transfers from Russia to Ukraine without opening bank account – media

      On May 5, Western Union international money transfer operator will suspend remittance of money from Russia to Ukraine without opening a bank account, according to the Russian newspaper Vedomosti. The reason for the Western Union`s adoption of this decision was a law on financial sanctions, approved by the government of the Russian Federation in...

      Oil prices continue slide, WTI nearing six-month low as supply glut weighs
      May07

      Oil prices continue slide, WTI nearing six-month low as supply glut weighs

      Oil prices fell by as much as a further 3 percent on Friday, after prices had crashed to five-month lows in the previous session, as concerns about global oversupply wiped out all of the price gains since OPEC`s move to cut output, according to Reuters. U.S. West Texas Intermediate (WTI) crude oil futures were trading at $44.14 per barrel at...

      Ukrainian farmers already planted sunflower on 3.5 mln ha
      May07

      Ukrainian farmers already planted sunflower on 3.5 mln ha

      Ukrainian growers still fail to catch up with last year`s oilseed planting pace as the weather-caused lag persists. At the same time, a boost is observed in planting operations in late April and early May, as reported by UkrAgroConsult. According to the Agrarian Ministry of Ukraine, sunflower was sown on an area of 3,487 hectares as of May 4 –...