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Editor’s note: This is issue 59 of Ukrainian lawmaker Yaroslav Zhelezniak’s weekly “Ukrainian Economy in Brief” newsletter, covering events from June 3–June 10, 2024. The digest highlights steps taken in the Ukrainian parliament related to business, economics, and international financial programs. The Kyiv Independent is republishing with permission. The IMF benchmarks in focusTime running out for Ukrainian authorities to adopt a draft law on relaunching the Bureau of Economic Security. The deadline for adopting of draft law #10439 on restarting the Bureau of Economic Security Bureau is set fo...
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Czech Minister for European Affairs Martin Dvorak has urged the Belgian Presidency of the Council of the European Union to advance accession negotiations with Ukraine and Moldova, according to the Czech Press Agency (CTK). In a letter co-signed by eleven other EU member states, Dvorak commended the Belgian Presidency’s efforts and highlighted the importance of gradually integrating the two countries into EU policies and programs. Sweden, Finland, Lithuania, Germany, Poland, Portugal, Romania, Slovenia, Estonia, Latvia, and Slovakia were among the countries that signed Dvorak's letter. "I belie...
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Russia is managing to produce artillery shells at triple the speed of Ukraine’s allies for a quarter of the price, Sky News reported on May 26, referencing analysis from management consulting firm Bain & Company. Using publicly available data, the firm claims that Russian factories can produce or refurbish 4.5 million 152 mm shells this year for $1,000 per round. European countries and the U.S. are only expected to produce 1.3 million 155 mm shells combined, at an average cost of $4,000 per unit. Slow artillery production has hindered Ukraine’s progress on the battlefield. Soldiers claim that ...
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2030 is a very real date for Ukraine to join the European Union, Katarina Mathernova, the EU ambassador to Ukraine, said in an interview on May 9. In November 2023, the European Commission — the Union's executive arm — recommended the launch of accession talks with Kyiv but said four additional reforms must be implemented. The European Council then agreed to open accession talks with Ukraine the following month. Ukrainian Prime Minister Denys Shmyhal later said that European Council President Charles Michel had named 2030 as a possible target year for further EU enlargement but added that the ...
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The EU is planning to ban political parties and think tanks from accepting Russian funding as part of its latest round of sanctions against Moscow, Bloomberg reported on May 6. The European bloc has already adopted 13 sanction packages in response to Russia's full-scale invasion of Ukraine, aiming to undermine Moscow's economic output and the ability to sustain the war. EU leaders are expected to introduce a 14th round of sanctions%20to%20Europe.) in the coming months. According to Bloomberg, the ban on Russian funding could impact far-right parties in Europe, such as Germany's AfD and France'...
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A second tranche of EU macro-financial assistance totaling 1.5 billion euros ($1.6 billion) has been given to Ukraine, European Commission President Ursula von der Leyen said on April 24. The EU approved the four-year Ukraine Facility in February, allocating 33 billion euros ($35 billion) in loans and 17 billion euros ($18 billion) in grants. The first tranche of 4.5 billion euros ($4.8 billion) was given to Ukraine on March 20. "Ukraine is carrying a heavy burden on its shoulders for all of us. Today, we disburse an additional (1.5 billion euros), under the (50 billion euros) Ukraine Facility...
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The Georgian parliament postponed the vote on the first reading of the controversial foreign agents bill to April 17 amid mass protests, local media reported on April 16. According to officials, the April 16 parliamentary session was supposed to end at 9 p.m. local time. Since the debates on the bill had not finished, the vote had to be pushed to the following day. The bill, first introduced in 2023 by the ruling Georgian Dream party, would require organizations that receive foreign funding to be labeled as such. Widespread demonstrations broke out in protest of the proposed law, and it was ev...
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The EU should be able to offer a negotiating framework to begin the process of Ukraine’s ascension to the European Union in June, Ukraine’s Deputy Prime Minister for European and Euro-Atlantic Integration Olha Stefanishyna said during a press briefing on April 16, as reported by the Hromadske news outlet. Stefanishyna, who is in Brussels this week to meet with European foreign ministers, said Kyiv is receiving "optimistic indicators" about upcoming negotiations. In November 2023, the European Commission — the Union's executive arm — recommended the launch of accession talks with Kyiv but said ...
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EU Energy Commissioner Kadri Simson supports Ukraine's proposal to increase its capacity for electricity imports from the European Network of Transmission System Operators for Electricity (ENTSO-E), Energy Minister Herman Halushchenko said on April 15. Simson and Halushchenko met on the sidelines of an informal meeting of E.U. energy ministers in Brussels. Halushchenko discussed the urgent energy infrastructure needs Ukraine faces amid an ongoing Russian assault on the country's power grid. "The Russians want to achieve a complete blackout of Ukraine," Halushchenko told the ministers. "Therefo...
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The European Council urged the Council of the EU to "swiftly adopt" accession negotiating frameworks for Ukraine and Moldova in a statement published on March 21. "European Council invites the (EU) Council to swiftly adopt them and to take work forward without delay," read the conclusion published by Ecaterina Casinge, a spokesperson of European Council President Charles Michel. In its November 2023 report, the European Commission – the EU's executive arm – recommended the launch of accession talks with Kyiv. The European Council then officially agreed in December 2023 to begin the talks. The ...
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