Economy
Russia has lost $1 billion as a result of Ukraine’s strikes on ports in the Baltic
Drone strikes on key Russian ports have reduced oil exports to their lowest level in over a year. Shipments from the Baltic have fallen to their lowest level since Russia’s invasion of Ukraine in 2022.
Gas bills in April may rise for reasons other than the tariff: who will be affected
In April, some Ukrainians may see higher amounts on their gas bills, but this is not due to a price change. Primary sources indicate that the annual tariff for domestic consumers remains fixed until 30 April 2026, and the higher charges are likely due to billing based on estimated consumption and subsequent adjustments following a reconciliation of actual data.
The EU is preparing for a protracted energy crisis: Brussels is advising people to drive less and work from home
The European Union is preparing for prolonged disruptions in the energy market due to the conflict surrounding Iran and is already discussing measures similar to the crisis-response measures of 2022. Brussels acknowledges that even if peace is quickly restored, the consequences for the fuel market will not disappear, and among the recommendations for countries to consider are remote working, fewer car journeys, lower speed limits on roads and greater use of public transport.
The EU is calling on Ukraine to pass 11 laws to unlock €4 billion
Marta Kos, the European Commissioner for Enlargement, has called on the Verkhovna Rada to adopt 11 draft laws as soon as possible, as these are essential for unlocking up to €4 billion for Ukraine under the Ukraine Facility programme. A Ukrainian translation of her letter was published by MP Yaroslav Zheleznyak.
A specialised agricultural processing cluster is to be established in the Vinnytsia region
The 56-hectare project is being developed as an Agroprocessing Hub, focusing on the deep processing of cereals and pulses, and the production of food ingredients and plant-based proteins.
Ukrainian farmers are optimising their fertiliser costs due to the sharp rise in prices
The spring sowing campaign is currently underway in Ukraine, with the significant rise in the price of mineral fertilisers being its main feature.
Netflix co-founder Reed Hastings is investing in the Ukrainian defence industry
Netflix co-founder Reed Hastings has joined the UA1 investment fund, which will invest in Ukraine’s defence industry. The fund plans to close its first funding round at $50 million by the end of April.
The EU is urging preparations for prolonged disruptions in energy markets due to the conflict with Iran — media reports
European Union governments must be prepared for prolonged disruptions in energy markets due to the hostilities in Iran. Petrol prices in Europe have risen by more than 70% since the outbreak of hostilities in the Middle East.
Trump has announced his intention to take control of Iran’s oil
US President Donald Trump has stated that he would like to gain control over Iran’s oil industry. He also raised the possibility of seizing the island of Kharg, through which the bulk of Iran’s oil exports pass.
UNDP has allocated over $1 billion for Ukraine’s recovery – Foreign Ministry
Since the start of Russia’s full-scale invasion, the United Nations Development Programme has allocated over $1 billion towards Ukraine’s recovery and development. This figure was announced during a meeting between Ukraine’s Deputy Minister for Foreign Affairs, Mariana Betsa, and the Director of the UNDP Regional Bureau for Europe and the CIS, Ivana Živković.
Iran has increased its oil revenues against the backdrop of the US-Israel conflict
Despite sanctions imposed by the US and Israel, Iran has almost doubled its daily oil revenue. The source notes that this is driven by exports via the Strait of Hormuz, the operation of shadow financial schemes, and demand from China.
Saudi Arabia has ramped up production to full capacity on the pipeline bypassing the Strait of Hormuz
Saudi Arabia is operating its East-West pipeline at full capacity to maintain oil exports despite the de facto blockade of the Strait of Hormuz. Oil flows have been redirected to ports on the Red Sea.
