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Recent developments in external economic activity highlight significant changes in global trading patterns due to geopolitical factors. The National Bank of Ukraine has announced an easing of foreign exchange restrictions for the "Defense City" regime to bolster its defense-industrial complex. The European Parliament has backed banning imports of Russian gas and oil, aiming for complete phase-out by 2027 amid geopolitical tensions. China's refinery is increasing imports of Russian oil following British sanctions, signifying a shift in energy alliances. Taiwan emerged as the largest importer of Russian oil, showcasing economic diplomacy amidst international sanctions. These movements reflect a complex web of economic decisions influenced by international sanctions, energy needs, and legislative changes, impacting global trade in energy resources significantly.
What changes has the National Bank of Ukraine implemented regarding foreign exchange?
The National Bank of Ukraine has eased foreign exchange restrictions as part of the "Defense City" legal regime. This move aims to support Ukraine's defense-industrial complex by facilitating international trade and investment. The changes are set to take effect at the end of 2025 and are expected to boost economic activities related to defense and security.
How is the European Parliament addressing Russian energy imports?
The European Parliament has endorsed a proposal to completely phase out Russian gas and oil imports by 2027. This legislative support is part of broader European Union efforts to reduce reliance on Russian energy, motivated by geopolitical tensions and a need for energy independence. The plan outlines a step-by-step reduction leading up to a full embargo.
How have Chinese refineries responded to European sanctions on Russia?
In response to British sanctions on Russia, China's Shandong Yulong Petrochemical has increased its imports of Russian oil. The move aims to ensure stable energy supplies and prices by compensating for the loss of suppliers affected by the sanctions. This decision highlights the flexibility and adaptation of global trade amidst shifting political landscapes.
Why has Taiwan become the largest importer of Russian oil in 2025?
Taiwan's emergence as the largest importer of Russian oil, providing $1.7 billion in revenue, indicates a strategic economic decision despite global sanctions on Russia. This role reversal reflects Taiwan's careful navigation of international relations to meet its energy needs without overtly defying allied economic sanctions supporting Ukraine.
What impacts are US sanctions having on Russian oil exports to India?
The imposition of US sanctions on Russia has led to a significant decline in Russian oil imports into India, reaching a three-year low as of December 2025. These sanctions are designed to limit Russia's economic capacity and force a realignment of global oil supply chains, affecting countries reliant on Russian energy exports.
TOP news external economic activity
Naftohaz publishes statistics of reduction in Russian gas imports during Ukraine's independence Major state-owned company Naftohaz Ukrainy (Oil and Gas of Ukraine) congratulated the Ukrainians on Independence Day by publishing the statistics of reduction in Russian gas purchase during the last 25 years. 162 325 609
Ukraine to cease import of electricity from Russia effective Nov. 11, - Minister Demchyshyn Ukraine intends to stop importing electricity from Russia on Wednesday, Nov. 11. 59 755 327
Ukraine doubles energy delivery from Russia despite its declared cessation Ukraine started importing twice as much power from Russia as before. 53 584 308
Ukraine-Russia exports increase by 54.4 percent, imports by 78.8 percent, - State Statistics Service The export of goods from Ukraine to Russia in January-February 2017 amounted to $576.58 million, which is 54.4 percent higher than in January-February 2016. 49 577 264
Georgia will no longer buy Russian gas, Energy Minister Kaladze says The government of Georgia intends to cease purchasing natural gas from the Russian Gazprom. 46 677 111
US Department of State allowed import of military sniper bullets in Ukraine, - Chief Editor Butusov. PHOTO The U.S. Department of State allowed Ukrainian company "Taktychni Systemy" to import military sniper patrons in Ukraine. 44 087 176
Medvedev Admitted that Russia Is Unable to Replace European Goods The Russian Federation response to the Western sanctions has both positive and negative consequences for the Russian economy while Russia yet failed to completely replace imports, Prime Minister Dmitry Medvedev said. 37 878 164 Previously in trend: Russian aggression against Ukraine
Russian Federation imposed ban on Ukrainian household chemicals including air fresheners and bug killers The Russian Federal Service for Surveillance on Consumer Rights Protection and Human Wellbeing (Rospotrebnadzor) has imposed a ban on imports of certain household chemicals produced in Ukraine. 35 613 510 Previously in trend: Trading Wars
Ukraine stopped import of electricity from Russia, - Ukrenerho Ukraine on Friday stopped importing electricity from Russia. 31 802 243
"Decision will be made," - Minister Nasalyk on Russia coal ban The Cabinet of Ministers is set to ban imports of thermal coal from the Russian Federation. 29 051 98
Ukraine engages in talks on anthracite deliveries from US, Minister Nasalyk says Minister of Energy and Coal Industry of Ukraine Ihor Nasalyk says Ukraine is negotiating anthracite coal deliveries from the United States. 24 219 186
Hungary bans imports of agricultural products from Ukraine – Magyar Hungarian Prime Minister Peter Magyar announced that the country’s government is banning imports of agricultural products from Ukraine. 23 674 204 Previously in trend: Relations between Ukraine and Hungary Agricultural exports
Cabinet Expands List of Products for Removal from Free Trade with Russian Federation The Ministry of Economic Development and Trade of Ukraine has increased a list of goods that can be removed from the free trade mode on import from Russia to Ukraine by 85 positions, up to 935 articles. 21 886 85
"We expect natural gas price under $200," - PM Yatseniuk The price of imported natural gas for Ukraine will be under $200 in 2016. 18 834 177
Ukraine marks 500 days without Russian gas, - Naftohaz The decision to stop the purchase of gas from Russia was made in November 2015. 18 762 235
China supplies Russia with technology to wage war in Ukraine, - Wall Street Journal China provides the technology needed by the Russian military to wage war in Ukraine, despite international sanctions and export controls. 15 837 96 Previously in trend: War
Zelenskyi sets task to reduce coal, electricity imports President of Ukraine Volodymyr Zelenskyi has set a task to Energy and Environment Protection Minister Oleksii Orzhel to reduce coal and electricity imports. 14 772 90
Ukraine to refuse gas import by 2020, - Minister Nasalyk By increasing production, energy efficiency, and energy saving measures, Ukraine intends to completely abandon the import of gas by 2020. 12 795 69
Chinese refinery sharply increases imports of Russian oil after British sanctions - Reuters China's Shandong Yulong Petrochemical is increasing purchases of Russian oil to compensate for reduced supplies following the introduction of sanctions by the United Kingdom. 12 607 6 Previously in trend: Sanctions against Russia
Hungary is dissatisfied with Orban’s decision to ban imports of Ukrainian grain - Bloomberg Hungary is dissatisfied with the government’s ban on imports of Ukrainian agricultural products. This will undermine efforts to curb inflation and create a shortage in the market. 12 296 30
Ukraine resumes gas supplies from Poland, - Ukrtranshaz representative Ukraine has resumed gas import from Poland. 9 458 76
US lifts arms import restrictions on Ukraine, - Stefanishyna A draft amendment to the US Department of Justice’s regulations regarding the removal of Ukraine from the list of countries subject to arms import restrictions was published on Thursday. This was announced by Olha Stefanishyna, Ukraine’s Ambassador Extraordinary and Plenipotentiary to the US. 8 800 32 Previously in trend: Ukrainian arms exports
Ukraine increased gas imports from European Union twice in 2015 – Naftogaz The gas imports from the European market to Ukraine more than doubled from 5 to 10.3 billion cubic meters in 2015. The number of international vendors of natural gas exceeded 10 companies. 7 273 114
European farmers demand restrictions on imports of Ukrainian products Six European agricultural organisations have called on Brussels to restrict imports of Ukrainian products to the EU in order not to jeopardise their "survival". 7 182 99
Belarus introduces individual licensing regime for some Ukrainian goods for six months – Ukraine's trade representative Belarus is introducing an individual licensing regime for a number of Ukrainian goods for six months, Deputy Economy Minister and Trade Representative of Ukraine Taras Kachka has said. 7 175 67 Previously in trend: Protasevich case
Ukrainian parliament group demands severance of diplomatic relations with Belarus Representatives of the inter-faction association in the Verkhovna Rada "For Democratic Belarus" have demanded the severance of diplomatic relations between Ukraine and Belarus, except for relations related to refugees and political prisoners. 7 061 47
Ukraine may abandon imported gas in five years' time, Hroisman says Ukraine may no longer need imported gas as soon as in the next five years provided country's gas deposits become available for producers. 6 212 171
US imposes 25% duty on car imports: it will take effect on 3 April The United States imposes 25% duties on imports of cars and trucks. The duties will take effect on Thursday, 3 April. 5 854 92 Previously in trend: Trumps tariffs US duties on imports of goods
Ukraine can refuse gas imports already this year - head of "Naftogaz" Chernyshov This year, for the first time in the history of independence, Ukraine may refuse to import gas. 5 376 20
Five EU countries support ban on grain imports from Ukraine until end of year Agriculture ministers of Bulgaria, Poland, Romania, Slovakia and Hungary agreed on Friday to support the further ban of the EU on the import of Ukrainian grain after September 15. 4 985 102
Ukraine expects electricity problems due to Russian attacks. Imports will be needed – Zelenskyy President Volodymyr Zelenskyy said that due to Russian strikes on Ukraine’s energy and gas infrastructure, the country may have to import electricity from EU states this winter. 4 873 37 Previously in trend: Attacks on the energy sector Shelling of energy and gas infrastructure
Ukraine bans electricity imports from Russia, Belarus Ukraine's National Commission for State Regulation of Energy and Utilities will limit electricity imports from Russia and Belarus until October 1, 2021. 4 761 25
Despite sanctions, Russia imported billions of dollars worth of military chips, most of them from US and Europe - Bloomberg Last year, despite the sanctions, Russia was able to import chips worth more than $1 billion. Most of them are made in the USA and European countries. 4 752 29
Taiwan becomes world’s largest importer of Russian oil: purchases brought in $1.7 billion to budget - report Despite official statements of support for Ukraine and joining international sanctions against Russia, Taiwan became the world's largest importer of Russian oil in the first half of 2025, bringing the Kremlin billions of dollars in revenue to finance the war. 4 621 38 Previously in trend: Russian oil exports
Import of Ukrainian grain to Poland has been suspended at least until July Grain imports from Ukraine to Poland will be temporarily suspended at least until July. 4 597 57 Previously in trend: Russian aggression against Ukraine
Five EU countries demand to return duties on imports of Ukrainian grain The agriculture ministers of Hungary, Bulgaria, Poland, Romania, and Slovakia ask the European Commission to reimpose import duties on Ukrainian grain due to "unfair competition." 3 565 19
Ukraine is largest arms importer in world, - SIPRI In 2020-2025, Ukraine increased imports of major types of weapons by almost 100 times compared to 2015-19. 3 560 12
Last year, Ukraine became third in list of largest importers of weapons in world - SIPRI Thanks to the military aid of the United States and European countries after the Russian invasion, in 2022 Ukraine became the third largest arms importer in the world. 3 427 3 Previously in trend: War
Europe increases imports of Russian energy resources despite sanctions and support for Ukraine, - Reuters Despite reducing their dependence on Russian energy resources, a number of European countries increased their purchases of oil and gas from the Russian Federation in 2025. 2 835 14 Previously in trend: EU procurement of Russian energy resources
Ukraine test imports electricity from Slovakia State trader "Energy Company of Ukraine" today conducted a test import of electricity from Slovakia. 2 786 15
Ukraine is fourth largest arms importer in world, - SIPRI In 2019-2023, Ukraine ranked fourth in the world in terms of arms imports. Ukraine's share in the global volume of imported weapons is 4.9 percent. 2 711 3
Poland extended the ban on the import of Ukrainian grain, - Morawiecki Poland extended the ban on the import of Ukrainian agricultural products after September 15. 2 701 33
Czech Republic to propose ban on grain imports from Russia to Europe at EU summit - media The Czech Republic will propose at next week’s European Council meeting to ban imports of Russian and Belarusian grain to the European Union. 2 681 25
New barriers between countries threaten whole of Europe - Zelensky on grain export ban President of Ukraine Volodymyr Zelenskyy called on European countries not to erect barriers but to strengthen ties between countries. 2 669 15
European Parliament has abolished customs duties on imports from Ukraine The European Parliament has backed the one-year abolition of EU import duties on all Ukrainian exports to support the country's economy. 2 664 6
Hungary allowed to import sugar from Ukraine Hungary has lifted the ban on imports of Ukrainian cane and beet sugar, which was introduced after 15 September 2023. 2 478 18
Slovakia will extend ban on imports of Ukrainian agricultural products and tighten transit rules - media On November 29, the government of Slovakia, led by Prime Minister Robert Fico, decided to extend the ban on the import of agricultural products from Ukraine and tighten transit rules. 2 415 22
Ukraine imports electricity around clock today, - Ministry of Energy On Wednesday, December 10, Ukraine will receive electricity from European countries throughout the day. 2 339 18 Previously in trend: Attacks on the energy sector
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