Ukraine is preparing to sell big government-run firms at distressed prices as it seeks to shore up the aid-dependent budget, according to the head of the nation’s state property fund.
(Bloomberg) — Ukraine is preparing to sell big government-run firms at distressed prices as it seeks to shore up the aid-dependent budget, according to the head of the nation’s state property fund.
NATO Secretary General Jens Stoltenberg arrived in Kyiv for a previously unannounced visit on Thursday morning.
French President Emmanuel Macron’s push to enlist China’s help to sketch out parameters for possible talks between Russia and Ukraine has drawn criticism from some allies. The Biden administration announced a new package of weapons for Ukraine valued at as much as $325 million to be taken from US stockpiles.
Key Developments
- Ukraine Pitches High Returns in Wartime Fire Sale of State Firms
- Macron’s Diplomatic Push on Ukraine Threatens Unity, Allies Warn
- Cashing Out of Russia Will Come With New Tax on Foreign Business
- Wheat Extends Biggest Loss in a Month as Ukraine Resumes Exports
(All times CET)
NATO’s Stoltenberg Makes Surprise Visit to Kyiv (10 a.m.)
NATO Secretary-General Jens Stoltenberg arrived in Kyiv Thursday morning, Ukrainian parliament member Oleksiy Honcharenko said in a Telegram post.
A NATO official said more information on Stoltenberg’s previously-unannounced visit would be released as soon as possible.
Read more: Macron’s Diplomatic Push on Ukraine Threatens Unity, Allies Warn
Wheat Prices Slide as Ukraine Resumes Exports (10 a.m.)
Wheat prices extended their largest decline in a month as Ukraine resumed grain shipments through the Black Sea corridor after a two-day halt.
Futures for wheat fell 1.2% after a 2.4% drop on Wednesday, the day inspections of crop vessels restarted. The halt had sparked fears over the future of a UN-brokered agreement that provides a safe passage for ships carrying crop cargoes from Ukraine, a key supplier to world markets.
Netherlands and Denmark Buy Leopard 2 Tanks for Ukraine (9:24 a.m.)
Denmark and the Netherlands agreed to donate 14 Leopard 2A4 tanks to Ukraine, the Danish Ministry of Defense said in a statement.
The two countries will split the €165 million ($181 million) costs and the tanks will be delivered in the first quarter of 2024. The Netherlands is also contributing to two initiatives for joint procurement of 155mm artillery ammunition.
US Task Force Seeks to Transfer Seized Assets (6:05 a.m.)
The chief of the US Justice Department unit charged with seizing assets connected to violators of sanctions against Russia said the program “cuts the purse strings from the Kremlin,” and that Congress could help it to do more.
Andrew Adams, the director of Task Force KleptoCapture, said in an interview on Bloomberg Television’s “Balance of Power” that lawmakers could provide the authority to funnel proceeds of the seizures from export control violations to Ukraine.
The Justice Department currently only has the authority to convey proceeds to Ukraine from assets seized from sanctions evasions.
Ukraine Pitches High Returns in Wartime Fire Sale of State Firms (6 a.m.)
Ukraine is looking for investors brave enough to bet that it will beat back Russia’s invasion with a simple pitch: High risk can offer high reward.
The country is preparing to sell big government-run firms at distressed prices. The aim is to shore up the aid-dependent budget and end a decades-old, post-communist legacy of corruption and mismanagement that has undercut the economy.
If lawmakers agree on changes at a session slated for the start of May, Kyiv could earn more than $400 million in a best-case scenario by selling enterprises ranging from a fertilizer producer to utilities, smelters and an insulin maker. Another $190 million could come from leasing farmland, Rustem Umerov, the head of the State Property Fund, said in an interview.
US to Provide Ammunition in Latest Round of Aid (7:42 p.m.)
White House press secretary Karine Jean-Pierre said the latest package of weapons for Ukraine includes “more ammunition for US- provided HIMARS rocket systems and anti-armor systems as well as additional artillery rounds.”
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