Ukraine’s GDP growth nearly halved in 2025 as war strangled its industry
Three years of wartime growth—but the engine is government spending, not a recovering economy.
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Money Matters
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Running restricted goods to Russia used to get you sanctioned. Apparently it now gets you unsanctioned.
Cleared entities include a Turkish network serving Russian intelligence services and a UAE firm that shipped manufacturing equipment to Russia.
South Korea’s $8 million bet: Ukraine’s postwar railway will look nothing like the Soviet one
An $8 million Korean grant is funding the blueprint for Ukraine’s break from Soviet-era rails.
Ukraine’s graphite plant proves Western supply chains can bypass China—one African batch at a time
Chinese dumping shut it down. African ore brought it back.
Why Ukraine may lose a fifth of its harvest—and what two wars have to do with it?
Two wars have halved Ukraine’s fertilizer output and spiked import costs 54%. The farm lobby says a 20% harvest loss is likely.
Sanctions finally squeezed Russia’s oil revenues in half. Then Iran sent prices back up—three weeks too late.
The Iran windfall arrived three weeks after Q1 closed. Now Moscow is eyeing the war budget.
The US waiver was meant to stabilize markets. Russia’s oil income jumped $890 million in a week.
Bloomberg data shows the $28 penalty Western sanctions built into every Russian barrel has nearly vanished.
The EU introduced fertilizer tariffs to cut Russian war revenues. Budapest wants them suspended. The election is in 27 days.
Budapest wants Russia’s fertilizer revenues restored. It’s blaming Iran.
Two weeks of someone else’s war earned Russia more than a month of someone else’s sanctions cost it
Zelenskyy says the windfall—compounded by US sanctions relief—gives Putin more room to keep fighting.
Zelenskyy calls European pipeline pressure “blackmail”—and a sanctions rollback in disguise
The president says some European leaders are conditioning weapons supplies on Ukraine restoring Russian oil revenues.
Naftogaz wins $1.4 billion Gazprom case—now comes the harder part
Switzerland’s highest court closed Gazprom’s last appeal. Collecting is another matter.
Turkey’s Ukraine war bill: soybean imports at risk as Erdoğan warns of global crisis
Wartime disruptions already cut Ukrainian grain deliveries to Turkey 16%—and Ankara is now pushing hard for peace talks.
Ukraine’s fuel costs spike as global tensions push inflation above forecast
February’s 7.6% reading slightly missed the NBU’s forecast—fuel was the culprit.
Bank Lviv sale shows Ukraine’s development finance model can actually work
Three development funds spent 20 years on this. Crédit Agricole spent one deal buying the result.
Oil swings $30 in a day as Iran turns Hormuz into a diplomatic weapon
From $120 to $90 in 24 hours: Iran named its price for reopening the world’s most critical energy chokepoint.
Brent at $100, Urals at $91: the Iran war handed Moscow its best oil week in years
Washington is fighting Iran and bankrolling Moscow at the same time.
Lights on, economy limping: Ukraine’s real energy reckoning in March 2026
Russia failed to freeze Ukraine this winter. All 15 thermal plants are still destroyed. And Russia has already moved on to trains.
US gives India 30 days to offload 140 million barrels of Russian crude—oil its own sanctions stranded at sea
Washington’s waiver covers crude that accumulated offshore after its own pressure campaign cut India’s Russian imports by more than a third.
EU may pay Ukraine to fix pipeline Russia keeps bombing—as Fico refuses to meet Zelenskyy first
Fico says he “wouldn’t believe Zelenskyy if he told him the sky was blue”—so he’s asking Brussels to check first.
What does a Russian air raid alarm cost Ukraine’s economy? Researchers just found out
The missiles get the headlines. The sirens do the quiet damage. Now there’s data to prove it.