Section: Economy

      Russia plans to leave G8 group of industrialized democracies after suspension for the illegal Crimea annexation
      Jan16

      Russia plans to leave G8 group of industrialized democracies after suspension for the illegal Crimea annexation

      The Russian Federation has announced its intention to permanently walk away from the G8 inter-governmental political forum of the world′s major highly industrialized economies which brings together the world’s richest countries to discuss global issues from economic growth to terrorism, according to The Independent. Russia was added to the...

      Ukrainian enterprises imported gas at $230/thousand cubic meters in December 2016
      Jan13

      Ukrainian enterprises imported gas at $230/thousand cubic meters in December 2016

      The press service of the Ministry of Economic Development and Trade states that Ukrainian companies imported gas from Europe for their own needs at an average price of UAH 6,006.66 ($230.01) per 1,000 cubic meters in the last month of 2016. “The average customs value of imported natural gas, formed in the process of customs clearance in the...

      Big Japanese companies began economic activities in Ukraine – Japanese Ambassador
      Jan12

      Big Japanese companies began economic activities in Ukraine – Japanese Ambassador

      On January 11, 2017, Japanese Ambassador to Kyiv Shigeki Sumi held a meeting with Ukrainian President Petro Poroshenko. A decree on celebrating the Year of Japan in Ukraine was signed and the President of Ukraine expressed his gratitude to Japan in support the independence and territorial integrity of Ukraine, according to the presidential press...

      Ukrainian gas reserves would be enough to meet all needs until the end of the heating season
      Jan12

      Ukrainian gas reserves would be enough to meet all needs until the end of the heating season

      Ukraine has sufficient gas reserves in underground storages until the end of the heating season even if low temperatures remain till the end of the heating period, states Press Service of Vice Prime Minister of Ukraine on the official website. Vice Prime Minister of Ukraine Volodymyr Kistion said that since the beginning of the heating season in...

      Oil prices rose for the first time in 3 days on January 11, 2017
      Jan11

      Oil prices rose for the first time in 3 days on January 11, 2017

      Oil prices rose for the 1st time in three days on January 11, 2017, despite the U.S. government data showing a huge weekly build in U.S. crude and fuel inventories. Oil prices edged up on Wednesday, lifted by reports of Saudi supply cuts to Asia, and an early Wall Street rally ahead of a news conference by U.S. President-elect Donald Trump,...

      Ukrainian budget-funded structures are served by Russian accounting systems – Ministry of Finance of Ukraine
      Jan10

      Ukrainian budget-funded structures are served by Russian accounting systems – Ministry of Finance of Ukraine

      Ministry of Finance of Ukraine in its report of 2016 on facebook admitted the strange fact that 10% of e-cabinets on the official public finances portal of Ukraine E-Data are registered from Russian domains. “Russian capital, Russian IT solutions are actively presented on the Ukrainian market,” states the report. Ukraine’s...

      U.S. Senator McCain to join with Democrats in pushing for “comprehensive” sanctions on Russia
      Jan10

      U.S. Senator McCain to join with Democrats in pushing for “comprehensive” sanctions on Russia

      John McCain, the chairman of the Senate Armed Services Committee, U.S. Senate Republican said on January 9, 2017, that he would join Democratic Senators Ben Cardin and Robert Menendez in introducing the legislation for “comprehensive” sanctions on Russia because of its alleged attempts to influence the 2016 Presidential election....

      EU company has to be involved in Ukrainian gas transit – Naftogaz
      Jan08

      EU company has to be involved in Ukrainian gas transit – Naftogaz

      The head of the oil and gas company National Joint-Stock Company (NJSC) Naftogaz of Ukraine, Andriy Kobolyev states that Ukraine needs to get a European company to manage its natural gas transportation system to keep its status as a transit country . “The ultimate goal of the process of creating a separate GTS operator is to involve a...

      Ukraine’s international reserves increased by $2.2 billion (17%) – the National Bank
      Jan06

      Ukraine’s international reserves increased by $2.2 billion (17%) – the National Bank

      The National Bank of Ukraine (NBU) suggests that as of 1 January 2017, Ukraine’s international reserves amounted to the equivalent of USD 15.539 billion. For today the amount of Ukraine’s international reserves is sufficient to cover 3.7 months of future imports and enable the Government and the NBU to settle their foreign debt obligations...

      EU complains about the weakening economy because of sanctions against Russia
      Jan06

      EU complains about the weakening economy because of sanctions against Russia

      The Austrian Institute of Economic Research (WIFO) sates that the European Union (EU) economy in 2015 lost in economic activity EUR 17.6 billion ($18.6 billion) including because of sanctions against the Russian Federation. In particularly in Austria 36% of the negative impact on economic activity with Russia could be attributed to the sanctions....