Battles for Azovstal and almost 3 trillion UAH in economic losses: Highlights on war in Ukraine as of May 4

Author

Yulia Ustymovych

The 70th day of the war against Russian invaders continues in Ukraine. On May 4, 2022, the losses of the Ukrainian economy reached 2.7 trillion UAH, battles began again for the territory of the Azovstal metallurgical plant, and the Bulgarian Parliament agreed to repair Ukrainianmilitary equipment. has collected business, political, and economic news that will help you learn more about the situation in the country that has been fighting for its right to exist for more than two months.

The top news about the war as of May 4:

During the last week, direct losses to the Ukrainian economy over the destruction and damage to civilian and military infrastructure increased by almost $4.5 billion. As of May 2, the total amount of damage to infrastructure reached almost $92 billion, or 2.7 trillion UAH. This is evidenced by a study by the Kyiv School of Economics as part of the Russia Will Pay project.
On May 4, heavy fighting for the territory of the Azovstal metallurgical plant began again in Mariupol. The Russian invaders are shelling the positions of the Ukrainian army from artillery mounts, aircraft, tanks, and ships, the mayor of the city Vadym Boichenko said on the broadcast of the national telethon. According to Boichenko, hundreds of civilians still remain on the plant's grounds, of which more than 30 are children who have been hiding in the plant's shelters since the outbreak of the full-scale invasion.
Ukraine will consider EU countries that continue to oppose the embargo on Russian oil as accomplices in Russian crimes. This was stated by Foreign Minister Dmytro Kuleba. The Minister noted that Ukraine welcomes the future decision of the EU to impose an embargo on Russian oil. He also stressed that as long as the Russian Federation continues to get billions of euros from the EU for Russian gas and oil, one cannot speak of victory over Russia.

Top news on politics as of May 4

The Parliament of Bulgaria has decided to repair Ukrainian military equipment at Bulgarian enterprises. The package also includes measures to overcome the consequences of economic sanctions, humanitarian, financial and military aid to Ukraine, continued support for Ukraine's accession to the EU, aid to Ukrainian refugees, enabling the import of Ukrainian grain to Varna, as well as strengthening energy cooperation, repairing Ukrainian military equipment, and continuing humanitarian aid supplies.
Prime Minister of Ukraine Denys Shmygal and Prime Minister of Portugal António Costa discussed providing military and financial aid, sanctions policy, and Ukraine's integration into the European Union, the press service of the Cabinet of Ministers reported. Shmyhal noted that the supply of modern weapons to the country should be accompanied by increased sanctions pressure on Russia. Portugal would support the provision of additional financial support to Ukraine in the form of 10% of special borrowing rights received from the IMF in August 2021 to strengthen the country's economic stability in the face of the enemy.
The Embassy of Sweden in Ukraine has returned to Kyiv, Tobias Thyberg, Swedish Ambassador to Ukraine, said. "The embassy team is back where we belong: in Kyiv, supporting Ukraine and its heroic citizens as they defend the freedom of their country and freedom in Europe," Thyberg wrote on Twitter.

Top news on economy as of May 4

The Ministry of Finance has made a forecast of payments on public debt in 2022 as of May 1. The forecast was raised by 11.84 billion UAH, or 2% compared to the April forecast, to 584.1 billion UAH. The highest amount has to be paid in April — June of this year — 167.94 billion UAH. in July — September it is projected at the level of 147.31 billion UAH, in October — December — 133.51 billion UAH. The highest monthly amount of payments was in February — 75.78 billion UAH.
In the Melitopol district, Russian invaders are seizing grain from farmers and are trying to stage a Holodomor. The mayor of Melitopol Ivan Fedorov said this during the national news telethon. He noted that today grain is massively exported from all elevators and barn-floors.

Top news on business as of May 4

The EU, as part of the upcoming sixth package of sanctions against Russia, is considering the possibility of banning European companies from providing services to the Russian Federation when transporting its oil to third countries, Bloomberg reports, citing EU officials and a document at its disposal. It is assumed that this ban should come into force before the beginning of June. However, Bloomberg reminds, EU member states have not yet approved the sixth package of sanctions against the Russian Federation.
Dobrobut, Adonis, Intosana, Oxford Medical, Isida, Mother, and Child clinics are resuming their work in Kyiv, according to a survey of market participants conducted by the Interfax-Ukraine agency in the capital. According to them, these clinics have opened most of their departments: Isida — three, Intosana — four, and Oxford Medical — 10. At the same time, Intosana informs that all medical centers of the clinic are open and ready to receive patients. At the same time, the Dobrobut medical network will provide medical care for free in Irpen and Brovary thanks to the support of the American fund International Medical Corps. The oncology clinics Spizhenko and Innovation are also resuming their work.

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