Hungarian and Slovakian refineries are currently unable to receive oil through the Ukrainian section of the international Druzhba pipeline from the Russian oil company Lukoil, which is subject to Ukrainian sanctions. This situation has sparked a strong reaction in Bratislava and Budapest. Kyiv is closely...
The slowdown of China’s economy is causing significant ripples globally. Although the IMF has somewhat improved its forecasts for the world’s second-largest economy, its expectations seem overly optimistic. This is happening amidst lively interactions around the “axis of evil Moscow-Pyongyang-Tehran” and stern warnings from Brussels...
Turkey is pushing for the renewal of the Black Sea Grain Agreement, which has been the framework for Ukraine’s maritime agricultural exports for the past year, operating without the participation or guarantees of the Russian Federation. Why now, and why include Russia? It’s likely because...
The “Ukraine Recovery Conference 2024” took place in Berlin on 11 and 12 June. This event significantly differed from the previous two conferences held in Lugano, Switzerland, in 2022, and London, United Kingdom, in 2023. Two main issues dominated the discussions this year: the...
A week after the latest OPEC+ meeting, an unexpected trend has emerged: oil prices are falling. Such meetings are typically aimed at raising prices through coordinated market actions by OPEC countries and their allies within the oil-exporting cartel. This is an intriguing signal, not only because...
Inflation in the eurozone in May 2024 is not just about prices; it also ties into the upcoming European Parliament elections and the actions of the European Central Bank (ECB), whose interest rates impact the cost of credit and much more. What is currently driving...
Dumping of electric vehicles and solar panels, technological assistance to Russia’s aggression in Ukraine, muscle-flexing in the Taiwan Strait, and attempts to solve internal problems by expanding exports—these are the grievances against China expressed by both the US and the EU. It appears we are witnessing the start...
China’s economy is striving to escape from crises, particularly in the real estate sector and overproduction. There are seemingly hopeful signs for the Chinese leadership, but these are likely short-lived. The methods China is employing to exit the crisis are far from market-based, and...
Ukrposhta, Ukraine’s national postal service provider, has partnered with DHL Global Match to provide transport and parcel services. From now on, Ukrainian entrepreneurs selling their goods on international marketplaces will have more confidence in stable delivery times. This was announced by the company’s CEO Igor...
The EU supports increased funding for Ukraine’s defence and will increase funding for the European Peace Fund by €5 billion, the Financial Times reports. This fund is used to finance military supplies to Ukraine. The new tranche of the fund is to be approved at...
The European Commission is seeking to speed up the approval of a mechanism that will allow the use of profits from Russia’s frozen sovereign assets so that Ukraine can receive the first tranche of up to three billion euros as early as July this...
United Kingdom is prepared to release all frozen assets of the Russian Central Bank in the country to Ukraine on the condition that they are returned when Russia is compelled to pay reparations to Ukraine after the end of the war. This was stated...
Hungary plans to allow banks, investment funds and asset managers to provide private and corporate clients with services in the digital asset market, Bloomberglaw reports. Currently, the Hungarian government has begun to coordinate the relevant draft law. It will allow financial institutions not only to conduct transactions...
Following a meeting in Uzhhorod between Slovak Prime Minister Robert Fico and Ukrainian Prime Minister Denys Shmyhal, the parties signed a joint statement aimed at strengthening bilateral relations “on the basis of mutual trust and respect,” according to Ukraine’s government website. The statement notes Slovakia’s firm and...
The EU will continue to provide Ukraine with substantial support, and in this context, the European Commission will soon present proposals to extend the liberalization of agricultural trade with our Ukraine. This was stated in Brussels during a press conference following the EU Ministerial...
Energy prices in Europe have fallen due to a new Atlantic storm that has brought unseasonably warm weather and increased wind power generation. On the one hand, hurricane-force winds, particularly those caused by Storm Isha, have made travelling across Northern Europe much more difficult...
Global oil prices have been on a decline for the third consecutive month. Despite OPEC+’s decision to cut production at the end of November, it proved insufficient to push prices upward. Even the most optimistic analysts doubt that oil will reach record levels and hit...
In the realm of “from the obvious to the incredible,” after three years of exorbitant food inflation, the trend might be shifting. However, certain products prices are still on the rise. The crux, though, lies in the fact that Ukrainian food, following a hot autumn,...
The cryptocurrency market, accustomed to being Cinderella since its formation 14 years ago, occasionally comes into focus, especially when intriguing events unfold in the global financial markets. Currently, we are witnessing a shift from excessively expensive money to moderately expensive ones. Bitcoin, which has reached $43,000,...
It appears that gloomy forecasts about the Chinese economy facing tough times are coming true. While just a few months ago there were hopes that China could overcome economic challenges without bloodshed, the scale of problems in a country that demonstrated an example of rapid, even...
In Europe, Christmas markets and sales have kicked off and will continue until the first half of January 2024. As Christmas approaches, sellers eagerly rub their hands, hoping that in 2023, shoppers will be more willing to spend compared to the previous year when spending was...
Per the sanctions imposed by the EU and its partners against Russia in 2022, many Russian banks were disconnected from the SWIFT system, including VTB, Otkrytie, Sovcombank, Promsvyazbank, Novikombank, Alfa-Bank, VEB, Rosselkhozbank, Novikombank, MKB, Rossiya, IS-Bank, BSTDB, Genbank, and Gazprombank. At the initial stage...
More functional foods, the rise of cocoa products and buckwheat popularity, along with persistent artificial meat producers—these are the food trends for the next year. They will complement the battles against droughts, food shortages in low-income countries, a return to “green” restrictions, and Russia’s attack...
It’s safe to say that at this time, the global economy has found itself at a crossroads. Sustained globalization, which in previous decades was rapidly driving the world economy forward, has given way to contrary trends. The world has become increasingly vulnerable to fragmentation...
Corruption in Ukraine is becoming a common theme in criticism of reforms in a country that is fighting the most difficult continental war in Europe since World War II. Corruption in Ukraine has always been identified with the oligarchs. Russia’s war against Ukraine, paradoxically,...
The American dollar is climbing higher, strengthening against the euro and other European currencies. What does this mean? What will it influence? Is a cheaper euro or British pound a good thing? Over the past three months, by mid-September, the Dollar Index (DXY) has surged by...
On the night of July 18-19, Russian Armed Forces launched missile and drone attacks on civilian objects in the ports located in Odesa and its surroundings on the Black Sea coast of Ukraine. They attempted to destroy terminals for grain and vegetable oil exports....
Apple’s market capitalization exceeded $3 trillion. The company’s shares rose by about 2.31% to a new high and overcame the price of $190.73 Founded by a Ukrainian by blood, Steve Wozniak, and an American, Steve Jobs, the computer firm, which started in a California garage...
Bank of Estonia intends to cease the issuance of 1 and 2 euro cent coins, citing environmental benefits and minimal impact on inflation. To implement this change, the central bank is preparing new rounding rules that will facilitate the removal of these small denomination...
One of the largest cryptocurrency exchanges in Europe with Ukrainian roots, WhiteBIT, has announced its entry into the Polish market. WhiteBIT made this announcement in their blog. The company claims that their interest in the Polish market stems from its developed ecosystem of digital assets and...
Hungary has once again refused to support the allocation of a tranche of approximately €500 million from the European Peace Facility to EU member states, demanding the removal of the Hungarian OTP Bank from the list of “war sponsors”. The announcement was made by...
