Your slice of
the top headlines in Ukraine. Daily. Tuesday, January 24th, 2023.
• The EU has allocated EUR 500 million ($543 million) to further military aid to Ukraine.
The decision was made at the most recent EU foreign ministers meeting in Brussels. The package includes EUR 45 million ($49 million) for “non-lethal equipment” for EU’s program of training Ukrainian troops. Notably, Hungary did not veto the aid package, but remains opposed to further sanctions against Russia, “especially if they would limit Budapest and Moscow’s cooperation in nuclear energy.”
The statement came following a protest in Stockholm, where protestors publicly burnt the Quran. “Those who caused such a disgrace in front of our embassy should not expect any benevolence from us regarding their NATO membership applications,” Erdogan said.
• Fitch Ratings has affirmed Ukraine’s Long-Term Foreign-Currency Issuer Default Rating (IDR) at CC.
The credit rating company explained that Ukraine’s likely massive economic damage, caused by the full-scale Russian invasion, will most likely result in further debt restructuring and haircuts for creditors. Fitch also forecasted GDP growth of 2% in 2023, with ongoing conflict preventing a sizeable return of refugees or large-scale investment, while energy outages following Russian strikes provide an additional headwind into 2023.
Ukraine’s Ministry of Energy, quoting Ukrainian Energy Minister Herman Halushchenko, reported on Jan. 20 that the Ukrainian government has approved an order to organize construction of the two new reactors. The estimated completion date for the construction and start-up of the reactors is 2030-2032, although the timing may be affected by the course of military operations. The cost of each reactor is to be about $5 billion.
According to Infrastructure Minister Oleksandr Kubrakov, an inspection has been initiated of all existing projects of the Ministry of Communities, in particular those with budget or international funding, as well as…
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