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Provocations by Russia and €300 million in assistance: Highlights on war in Ukraine as of March 18

The twenty-third day of the war against the Russian occupiers continues in Ukraine . This day has been quite eventful for business, politics, and economics. The Page has compiled a digest that will help you to know the situation in Ukraine.

The major developments of the day are:

  • Ukraine got 300 million euros of macro-financial assistance. In total, within a few days Ukraine got $2 billion and more than €1 billion of support from the International Monetary Fund (IMF), the World Bank, the European Investment Bank (EIB), the European Union, and foreign governments;
  • Ukraine is actively negotiating and consulting with European and American partners on limiting Russian gas supplies to Europe via Nord Stream 1. Maintaining the Russian gas transit through the Ukrainian GTS in wartime is an additional guarantee of keeping the gas transportation infrastructure of Ukraine from destruction by Russian aggressors;
  • The Cabinet of Ministers stopped inspecting businesses and enterprises during martial law. However, unscheduled inspections of price increases will be an exception.

Economy

  • On March 18, the Ministry of Economy announced a new average cost of gasoline and diesel fuel (DF), on the basis of which the marginal price of selling fuel at petrol stations in mid-March is calculated. The maximum price of ordinary gasoline at petrol stations should not exceed 33.42 UAH/liter, and DF—37.05 UAH/liter;
  • The International Monetary Fund estimates the fall in GDP over Russia's full-scale war against Ukraine at 35% in 2022. According to Vladyslav Rashkovan, Deputy Executive Director for Ukraine at the IMF, such outlooks should be made with an understanding of the war end point, but they are none at the moment;
  • President Volodymyr Zelenskyy has made a number of announcements of changes in economic policy. These include: introducing concessional lending, deposit guarantees, and simplified business regulation.

Politics

  • Russian invaders captured Viktoria Roshchyna, a journalist of Hromadske Ukrainian media outlet, who shot videos and wrote articles from trouble spots in eastern and southern Ukraine during all the days of the Russia-Ukraine war;
  • Russia is preparing a provocation with the use of chemical weapons, according to Iryna Vereshchuk, Minister for Reintegration of the Temporarily Occupied Territories of Ukraine. According to intelligence, the pretext may be the mythical "biological laboratories", in order to accuse the West of using such weapons;
  • President Volodymyr Zelenskyy called for blocking all European ports for Russian ships. According to him, if Russia is not stopped and punished now, other aggressors will start other wars. It is necessary that all Western companies leave the Russian market and do not cover their thirst for profit, despite blood, despite war crimes, with cheap PR, as Nestle or Auchan, for example, do, Zelensky said.

Business

  • Dozens of hotels have joined the Visit Ukraine In Future campaign that allows one to make charitable reservations in Ukrainian hotels. The amount of the fee is determined by the number of nights you want to pay by card, the amounts start from 40-50 euros per day.
  • The European Business Association surveyed 120 member companies out of more than 1,000. 43% of respondents assess their own financial soundness as one that will be enough for several months, another 28%—for half a year, 17%—for a year or more, 6% of companies called their financial resources exhausted.

Context.

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