Economy

Soledar, the town in Ukraine’s eastern region of Donetsk, is home to Europe’s largest salt deposits: a vast, cavernous network of underground tunnels extending for about 200 kilometres. Such is the scale of the mines that geologists claim that less than five per cent of the seam has been removed since industrial mining began in 1881. Explored reserves amount to about five billion tonnes.
Soledar, the town in Ukraine’s eastern region of Donetsk, is home to Europe’s largest salt deposits: a vast, cavernous network of underground tunnels extending for about 200 kilometres. Such is the scale of the mines that geologists claim that less than five per cent of the seam has been removed since industrial mining began in 1881. Explored reserves amount to about five billion tonnes. © Artemsil

Ukraine: The Battle for Soledar’s Salt Mines 

Russians took control of the symbolic town with commercial as well as strategic purposes in mind.

9 Mar 23
An engineer working on an aircraft engine at Motor Sich, a leading engine-maker in Ukraine. On November 7, 2022, Ukrainian authorities invoked wartime laws to take control of stakes in Motor Sich and four other strategic companies from some of the country's wealthiest individuals. President Volodymyr Zelenskiy said the decision was taken to help meet the defence sector's urgent needs amid Russia's invasion.
An engineer working on an aircraft engine at Motor Sich, a leading engine-maker in Ukraine. On November 7, 2022, Ukrainian authorities invoked wartime laws to take control of stakes in Motor Sich and four other strategic companies from some of the country's wealthiest individuals. President Volodymyr Zelenskiy said the decision was taken to help meet the defence sector's urgent needs amid Russia's invasion. © Motor Sich

State Becomes Main Player in Ukrainian Economy

The war has pushed the national share in the GDP to a record 78 per cent, while excluding oligarchs.

22 Dec 22
On July 11 Ukraine's wealthiest man, Rinat Akhmatov, announced he would exit his media business. The media holding includes Ukraina and Ukraina 24 TV channels, which before the full-scale war were among the most-watched channels in the country. By doing so, Akhmetov seeks to escape being officially classified as an oligarch in Ukraine.
On July 11 Ukraine's wealthiest man, Rinat Akhmatov, announced he would exit his media business. The media holding includes Ukraina and Ukraina 24 TV channels, which before the full-scale war were among the most-watched channels in the country. By doing so, Akhmetov seeks to escape being officially classified as an oligarch in Ukraine.

Why Ukraine’s Steel Tycoon Closed His Media Empire

Last year’s oligarch law allowed the country’s wealthiest man to discard an unprofitable business without hurting his reputation.

11 Aug 22
Businesses have been hit hard by Russia's invasion of Ukraine. Finca Coffee, a coffee roasting company, managed to relocate its operation from Hostomel, outside Kyiv, to Rivne, in western Urkaine as part of a ministry of economy's programme, which supports entrepreneurs to equipment and workers to safer areas. Smaller businesses, however, have to fend for themselves.
Businesses have been hit hard by Russia's invasion of Ukraine. Finca Coffee, a coffee roasting company, managed to relocate its operation from Hostomel, outside Kyiv, to Rivne, in western Urkaine as part of a ministry of economy's programme, which supports entrepreneurs to equipment and workers to safer areas. Smaller businesses, however, have to fend for themselves. © Vitaliy Koval Facebook page

Ukraine: Businesses Relocate to Safer West

With government help, hundreds of strategic enterprises have moved to the safer west of the country. Smaller businesses, however, have to fend for themselves.

13 Jun 22
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