Ukraine Financial News

Bank of Japan kept interest rates unchanged, driving the yen to a fresh 34-year low, while US inflation showed few signs of simmering down. The Japanese yen slumped as BOJ Governor Kazuo Ueda played down the impact on inflation from a weakening currency. While he’s indicated a preference to proceed gradually with rate increases, Ueda is trying to avoid restraining the economy. That’s becoming even more challenging after US data this week indicated inflation accelerated in the first quarter, reinforcing expectations the Federal Reserve is likely to keep interest rates higher for longer.

Palestinian athletes are expected to compete at the Paris Olympics, with some set to be invited by the International Olympic Committee (IOC) even if they fail to qualify, its head Thomas Bach said. Bach told AFP on Friday that qualification events for the Paris Games, which start on July 26, were ongoing for a number of sports.

India's state-run firms' output from overseas oil and gas fields marginally rose in 2023-24 after declining for four straight years. The output, however, remained a fifth below the peak of 2018-19 as producing fields matured and no new overseas assets were acquired in recent years. The share of India's state companies in oil and gas production from overseas fields increased to 19.9 million metric tonnes of oil equivalent (MMTOE) in 2023-24 from 19.5 MMTOE in the previous year. Production at Russia's Skahalin-1 project normalised during the financial year, after being badly affected in 2022 following the launch of the Russia-Ukraine war. ONGC Videsh, India's largest investor in overseas oil and gas fields, has a stake in Sakhalin-1, where production had nearly halted for some time following the exit of its operator Exxon, industry executives said.

business connected to Ukraine has been charged with conducting hostile activity to benefit Russia, prosecutors said Friday. Dylan Earl, 20, is connected to Russia's Wagner mercenary group, which the U.K. government has declared a banned terrorist organization, prosecutors said. Earl is accused of fraudulent activity, research and reconnaissance of targets, and attempting to recruit others to assist a foreign intelligence service carrying out activities in the U.K.

illicit trade and unmanned aerial vehicle (UAV) transfer on behalf of the Iranian military, the US Department of Treasury said in an official statement. These companies, individuals and vessels have played a key role in financing and facilitating the clandestine sale of Iranian unmanned aerial vehicles (UAVs) to Russia’s war in Ukraine, it said. According to the US Department of Treasury, Sahara Thunder is the main front company that oversees Iran's commercial activities in support of these efforts.

Kenneth Rogoff, former chief economist of the IMF, is Maurits C. Boas Chair of International Economics at Harvard University. Speaking to Srijana Mitra Das, he discusses the record rise in military expenditure worldwide: Q. Recent reports find global defence spending now amounts to $2443 billion — which economic areas does this impact most? A. While military spending does spin off some technology, by and large, it is not good for growth or consumption because it’s destructive. The United States and Europe are facing pressures today because of Ukraine, the Middle East and potentially Taiwan — but the defence budgets of the West are tuned to a different era. We had a peace dividend after the Berlin Wall fell in 1989 — now, things are going into reverse. This raises the pressure on debt and inflation.

French President Emmanuel Macron is warning that Europe could “die” if it fails to build its own robust defense as Russia’s war in Ukraine rages on

India's engineering goods including steel and machinery exports rose 10.7% year-on-year in March to $11.28 billion, growing in double digits for the second straight month, despite ongoing supply issues caused by disruption to shipping through the Red Sea, a trade body said. Engineering goods, which account for one-fourth of merchandise exports, rose 2.13% in the 2023/24 financial year, to $109.3 billion from a year earlier, Engineering Export Promotion Council (EEPC), a body affiliated with the Commerce Ministry, said in a statement on Thursday. Exports have been dented by a slowdown in global demand, the ongoing Russia-Ukraine war and the Red Sea shipping crisis brought on by conflict in the Middle East, exporters said.

Sweden has officially become a member of NATO, the North Atlantic Treaty Organization, amid rising tensions with Russia. This move comes as part of NATO's efforts to bolster its defences in the wake of Russia's invasion of Ukraine. The addition of Sweden and Finland, which joined earlier, marks the alliance's largest expansion since the 1990s. NATO's Purpose and Membership NATO was established in 1949 to counter Soviet expansion and maintain peace in Europe. It has since grown to include 32 member countries, including the UK, US, Canada, France, Germany, Italy, Spain, and Turkey. Following the Soviet Union's collapse, many Eastern European countries joined, and now, Sweden and Finland have joined the alliance, contributing nearly 300,000 troops.

long-range missiles to Ukraine for use in its battle to fight off Russian invaders, and Ukraine has now used them twice, a US official said on Wednesday. The missiles were contained in a $300 million military aid package for Ukraine that US President Joe Biden approved on March 12, said the US official, speaking on condition of anonymity. The official would not say how many of the missiles were sent. White House national security adviser Jake Sullivan, at a briefing for reporters, confirmed that a «significant number» of the missiles had been sent to Ukraine and said «we will send more.»

Russian funds tap into the stranded rupee balance generated in the trade between the two countries? In the course of negotiations, some of the Russian financial institutions have sounded out the Reserve Bank of India (RBI) on a mechanism that would let them use the rupees lying in special accounts in India for investment in stocks and securities here. Till now, 10 institutions from Russia, including its biggest lender, have registered as foreign portfolio investors (FPIs) with Sebi. But they have made little investments — probably, due to the hurdles in cross-border payments caused by US sanctions in the wake of Russia’s war with Ukraine. If, however, RBI permits the flow of rupees from the trade balance pool to the rupee accounts of Russian FPIs, the latter can invest the amount in securities listed on Indian exchanges. Under the framework suggested, the FPIs could match a transfer of rupees from the pool by paying the equivalent in roubles to Russian companies that have exported to India but are reluctant to accept payments in rupees.

A Russian court sided with state-run lender VTB Bank in its efforts to recoup $439.5 million from JPMorgan Chase that the American lender froze in U.S. accounts after the Ukraine invasion.

The big U.S. aid package for Ukraine and other allies that President Joe Biden signed Wednesday also allows the administration to seize Russian state assets located in the U.S. and use them for the benefit of Kyiv

A company started by a Texas billionaire oilman has announced a deal with Venezuela’s state-owned oil company to rehabilitate five aging oil fields

Ajit Doval had a bilateral meeting with His Excellency Mr. Nikolai Patrushev, Secretary of the Security Council of the Russian Federation," the embassy said in a post on X. "Both sides reviewed progress in bilateral cooperation and discussed important issues of mutual interest," it added.

CHASIV YAR, Ukraine—The explosion lit up the night sky, sending flames hundreds of feet into the air. Another huge blast followed a few seconds later, then a third. The booms carried for miles across the fields east of Chasiv Yar, and a few moments later, a jet ripped through the sky.

President Tsai Ing-wen said on Wednesday she was happy the U.S. Congress had passed a sweeping foreign aid package which includes arms support for the island, as China urged Washington to stop selling weapons to Taipei. The United States is Taiwan's most important international backer and arms supplier even in the absence of formal diplomatic ties. China, which views Taiwan as its own territory, has repeatedly demanded arms sales stop. The Senate approved by 79 to 18 four bills passed by the House of Representatives on Saturday, after House Republican leaders abruptly switched course last week and allowed a vote on the $95 billion in mostly military aid for Ukraine, Israel and Taiwan and U.S. partners in the Indo-Pacific.

The Senate has passed legislation that would force TikTok’s China-based parent company to sell the social media platform under the threat of a ban, a contentious move by U.S. lawmakers that’s expected to face legal challenges and disrupt the lives of c...

Joe Biden will sign a bill of national security package to deliver a long-delayed $95 billion emergency aid for Ukraine, Israel, and Taiwan on April 24. The Senate passed the aid for besieged US allies on Tuesday night, clearing the way for resumed arms shipments to Kyiv within days. “Congress has passed my legislation to strengthen our national security and send a message to the world about the power of American leadership: we stand resolutely for democracy and freedom, and against tyranny and oppression," the statement read.

Joe Biden vowing new arms supplies will be delivered swiftly to the warzone as Russia makes battlefield gains. Days after the House of Representatives cleared the measure — part of a massive $95 billion in assistance to allies including Israel and Taiwan — the Senate followed suit, passing the package with broad bipartisan support.

action plans for around 20 agricultural products including banana, mangoes, potato and baby corn to boost their exports and these are likely to be ready in the next 3-4 months. “We have identified 20 products. At present, India’s share is low in global exports. We are working on a detailed action for all these products,” said Rajesh Agarwal, additional secretary, department of commerce, adding that the action plan will be discussed with all the stakeholders including states for further action. Fresh grapes, pomegranate, watermelon, guava, green chilly, capsicum, okra, garlic, onion, groundnut, alcoholic beverages, cashew nut, buffalo meat, jaggery, natural honey, and ghee are the other products included in the exercise as India aims to increase its share in global exports to 4-5% in the next few years from 2.5% now.