Today's Contents
The Reporter's Notepad
- Weekly Roundup
Just The Facts:
- Ukraine, US to start talks on minerals deal on Friday
- EU, Ukraine launch new business partnership to draw investments in war-torn country
- Ukraine, EU extend 'transport visa-free regime' until end-2025
- US ambassador to Ukraine Bridget Brink resigns
- Ukraine signs $58 million grant agreement with Japan for economic recovery
Here's What They Think:
- Global Witness: Ukraine should focus on building greener future, not fighting with US over resources
- ECFR: Europe has tools at its disposal to influence Ukraine's future
Sober Second Thought:
- Europe's role in Ukraine's reconstruction hinges on dual-intent integration of displaced Ukrainians, EPC policy brief says
The Rebuilders' Social
- Direct hit destroys Biosphere warehouse and kills one worker, Naftogaz recovers have of production lost due to attacks, Ukrainian Railways boosts rail purchases through procurement savings.
Dear readers,
URN newsroom chief Valentina here with you today for another look back at the key events that shaped the past week.
Let's start with a glimpse into what will most probably make headlines later today and during the weekend: US-Ukraine minerals deal.
The two countries are expected to start "technical consultations" on the controversial agreement today in Washington. The latest US proposal is reportedly highly unfavorable for Ukraine - providing no security guarantees for the war-torn country and requiring Kyiv to send the US all profit from a fund controlling Ukrainian resources until Ukraine repays all US wartime aid, plus interest.
Ukrainian officials, including President Volodymyr Zelensky, Foreign Minister Andrii Sybiha and Prime Minister Denys Shmyhal, as well as Deputy Prime Minister Olha Stefanishyna, have been clear that Ukraine will sign no agreement that would hurt the country's path toward EU membership.
Stefanishyna said on Thursday in Brussels that "nothing...can be negotiated with Ukraine in a way that will undermine the existing commitments and obligations Ukraine has, including financial ones," hinting that "appropriate adjustments" have to be made to the current version of the deal.
Ukraine seems eager to defend its interests: the government earlier this week allocated $2.73 million from the state budget to contract consultants from "leading international law firms" to help prepare the country's negotiating position in talks with the US.
According to Economy Minister Yulia Svyrydenko, Ukraine's delegation to Washington will include representatives from the ministries of economy, foreign affairs, justice, and finance.
We wish them luck and are hoping for good news from the US capital.
Still no publicly revealed progress on ceasefire negotiations. The US and Russian officials did meet this week in Istanbul, but not to discuss Ukraine. The countries held talks about the work of their diplomatic missions, with both saying that progress has been made in that direction.
Two limited ceasefire agreements brokered by the US in recent weeks - one for energy infrastructure and one in the Black Sea - have seemingly fallen through.
Kremlin spokesman Dmitry Peskov said on Monday that Russian President Vladimir Putin remains open to a ceasefire in Ukraine, but that Moscow has yet to receive answers to key questions regarding the truce proposed by the Trump administration.
Moscow has been insisting that any ceasefire deal has to address "root causes" of the conflict, including Ukraine abandoning its NATO ambitions and for Russia to gain full control over the four Ukrainian regions it claims, among others.
Meanwhile, US Ambassador to Ukraine Bridget Brink is stepping down - reportedly voluntarily - after three years in the position.
The EU has been stepping up its support for Ukraine. The week started with the news that the European Commission approved a €1.5 billion Polish state-backed scheme to reinsure transport in Ukraine, aiming to sustain trade flows disrupted by Russia's invasion.
Ukraine's European partners have also raised about €10 million to support the Platform for Action on the Green Recovery of Ukraine, launched by the UN. The platform would bring together Ukrainian and international partners to define "green recovery" for Ukraine, considering its EU accession status.
On Wednesday, Ukraine signed loans worth a total of €300 million with the European Investment Bank for three previously announced projects, including €100 million for community recovery and development projects, €100 million for the Ukraine Water Recovery project, and €100 million for the Ukraine District Heating project.
Also Wednesday, the European Commission said it had transferred an additional €1 billion loan to Ukraine under its €18.1 billion Macro-Financial Assistance (MFA) program, which is to be repaid with proceeds from Russian assets frozen in the European Union.
The payment marks the third allocation to Ukraine under the MFA, bringing the total disbursed so far to €5 billion.
To end the week, European Commissioner for Enlargement Marta Kos and Ukrainian Prime Minister Denys Shmyhal launched a new business partnership as they look to attract investors to help rebuild the country devastated by the ongoing war with Russia.
On reconstruction and investments …
As with every other week, this week we also had stories about businesses considering investing in Ukraine or expanding their operations.
Ukraine's Minister for Agrarian Policy and Food Vitaliy Koval said that South Korean conglomerate LS Group is considering establishing a tractor factory in Ukraine and is looking for partners for a potential investment.
We have also heard that Vitagro, the Ukrainian diversified agricultural conglomerate, is expanding its grain storage capacity in the Khmelnytsky region, with the completion of two new silos capable of storing 11,000 tonnes.
Ukrainian state oil and gas company Naftogaz said it is considering collaborating with Bergen Engines, a Norwegian developer of medium-speed engines, and Itera, a Scandinavian IT company specializing in sustainable digital transformation, in energy and digital technologies.
… and a survey conducted by Consumer and Business Research (CBR) Ukraine among cement producers and consumers revealed that Ukrainian cement and concrete producers can increase production to meet reconstruction needs in any scenario.
To end this weekly review, I would like to recommend 5 tips for investors rebuilding Ukraine, from Olga Balytska, PwC's local real estate lead and EBA recovery committee co-chair.
Balytska shared with Ukraine Rebuild Newswire her advice to investors looking to support the reconstruction of her home country, reflecting the mix of optimism and caution that characterizes much of Ukraine today.
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For questions related to daily news and story suggestions, feel free to message me at valentina@ukrainerebuildnews.com.
For sponsorships, the URN Guidebooks, the Tips for Investors column, and other general matters, email founder Adam Brown at adam.brown@ukrainerebuildnews.com.
Now moving on to today's headlines …
Ukraine, US to start talks on minerals deal on Friday
Ukraine and the US will start "technical consultations" on a minerals deal in Washington on Friday, Ukrainian Deputy Prime Minister Olha Stefanishyna said on Thursday.
"I am not in a position to reveal any details because the meeting will only take place tomorrow ... but one thing that I can confirm for sure is that nothing...can be negotiated with Ukraine in a way that will undermine the existing commitments and obligations Ukraine has, including financial ones...This is something that is not subjected to any negotiation format," Stefanishyna said at a press conference in Brussels.
"Having said that, it means that appropriate adjustments have to be done in the format of the agreement later on," added Stefanishyna, who is the deputy prime minister for for European and Euro-Atlantic Integration and the justice minister.
Earlier this week, Ukraine's Foreign Minister Andrii Sybiha said that Kyiv has already developed its position on the minerals deal with the US and its vision of the text.
He emphasized that the deal must be mutually beneficial, align with the interests of both sides, and remain consistent with Ukraine's path toward the EU.
Ukrainian Prime Minister Denys Shmyhal echoed a similar stance on Thursday, saying in an interview with Bloomberg that any minerals agreement with the US can't endanger the country's aspirations to join the EU.
"This is the number one red line which we communicate to all of our partners," Shmyhal stated.
Ukraine's government on Tuesday allocated $2.73 million from the state budget to contract consultants from "leading international law firms" to help prepare the country's negotiating position in talks with the US.
EU, Ukraine launch new business partnership to draw investments in war-torn country
European Commissioner for Enlargement Marta Kos and Ukrainian Prime Minister Denys Shmyhal launched a new business partnership as they look to attract investors to help rebuild the country devastated by the ongoing war with Russia.
To reinforce investor confidence and ensure Ukraine's long-term sustainable growth, the parties agreed to work on implementing the reforms needed to improve Ukraine's business climate and facilitate investments by European Union companies in the country as well as to accelerate sectoral integration of Ukraine into the EU Single Market, Kos and Shmyhal said in a joint statement on Thursday.
The two also stressed the importance of making the most of the Ukraine Investment Framework to help reduce risks for investors, attract private money, and boost foreign investment in Ukraine's recovery and rebuilding.
"By leveraging financial instruments such as guarantees and blended finance, we will incentivize private sector involvement in Ukraine's recovery, reconstruction and modernization," the statement read.
Kos and Shmyhal also said they aim to position Ukraine as a dynamic investment destination, particularly in strategic sectors such as defense. They plan to unite EU and Ukrainian business associations through platforms like the EU-Ukraine Business Summit, the upcoming Ukraine Recovery Conference, and the EU-Ukraine Investment Conference.
They have agreed to organize high-level meetings with prominent business associations from both the EU and Ukraine to evaluate progress on common goals, enhance business partnerships, and tackle any challenges facing the EU-Ukraine business relationship. The first meeting is scheduled to take place alongside the Ukraine Recovery Conference in Rome in July 2025.
The statement came following the EU-Ukraine Business Summit held in Brussels. Co-organized by the European Commission (EC), Ukraine's government, the Polish Presidency of the EU Council, and Italy – as host of the 2025 Ukraine Recovery Conference – the summit brought together over 700 key stakeholders.
Discussions focused on Ukraine's reconstruction and the reforms needed to unlock investment and strengthen the country's business climate, the EC said in a press release.
Ukraine, EU extend 'transport visa-free regime' until end-2025
Ukraine and the European Union (EU) have automatically extended the "transport visa-free regime," or the Agreement on the Liberalization of Freight Transport, until the end of this year, Ukraine's Ministry of Communities and Territories Development said on Thursday.
This was made possible due to the effectiveness of the agreement, the positive impact on the economies of both Ukraine and the EU, as well as due to the successful monitoring of the agreement's implementation, the ministry said in a press release.
"Today, road transportation between Ukraine and the EU is crucial for the economic sustainability of our country, because it is by road that we export value-added goods and import the necessary goods…Thanks to the 'transport visa-free regime', exports by road to the EU increased by 42% and imports by road to Ukraine by 37%," said Ukraine's Minister of Communities and Territories Development Oleksiy Kuleba.
The agreement was initially signed in June 2022 for a period of one year. It was last extended in June 2024 until June 2025. That extension allowed for an automatic renewal until the end of 2025, as long as there are no violations or negative consequences for the parties involved, as per the statement.
US ambassador to Ukraine Bridget Brink resigns
U.S. Ambassador to Ukraine Bridget Brink is stepping down from the position, Reuters reported on Thursday, citing the State Department.
"Ambassador Brink is stepping down. She's been the ambassador there for three years – that's a long time in a war zone," a State Department spokesperson told Reuters in response to an inquiry.
Reuters previously reported that Brink was contemplating stepping down and leaving the foreign service, citing unnamed sources.
"Ambassador Brink's been ambassador at the embassy in Ukraine for three years during a time of war... An extraordinary performance there, and we wish her well. We're working for that war to end, and that is our focus, and we expect, of course, our work ... will continue in that regard," State Department spokesperson Tammy Bruce told reporters on Thursday at a regular news briefing, as quoted by Reuters.
Brink was appointed to the position by former President Joe Biden and has been serving as ambassador in Kyiv since May 2022.
She was recently criticized in Ukraine for her response to a Russian strike that targeted a playground in President Volodymyr Zelensky's hometown of Kryvyi Rih, resulting in the deaths of 11 adults and nine children.
"Horrified that tonight a ballistic missile struck near a playground and restaurant in Kryvyi Rih. More than 50 people injured and 16 killed, including 6 children. This is why the war must end," Brink wrote in a post on X following the attack.
Zelensky commented on Brink's tweet in a post on Telegram. "Unfortunately, the reaction of the American Embassy is unpleasantly surprising: such a strong country, such a strong people - and such a weak reaction. They are even afraid to say the word 'Russian' when talking about the missile that killed children," Zelensky wrote.
Ukraine signs $58 million grant agreement with Japan for economic recovery
Ukraine's Minister of Communities and Territories Development Oleksiy Kuleba and Hideki Matsunaga, the head of the Japan International Cooperation Agency (JICA) office in Kyiv, have signed a $58 million grant agreement, enabling the launch of the fourth phase of the Emergency Recovery Program for Ukraine.
The program, implemented jointly by JICA and Ukraine's Ministry of Communities and Territories Development, looks to respond to Ukraine's urgent needs through procuring equipment, materials, and services necessary for emergency and economic recovery.
Ukraine has already implemented three phases of the program, which provided support for energy, transport, agriculture, healthcare, education, waste management, water disposal, water supply, and humanitarian demining sectors, the ministry said in a press release on Wednesday.
"The new funds under the Emergency Recovery Program will provide critical assistance in a number of areas, including humanitarian demining, energy, water supply, and infrastructure restoration. I look forward to further strengthening and deepening our partnership," Kuleba stated.
Since the beginning of the Russian full-scale invasion, Japan has provided Ukraine with $12 billion in humanitarian and financial assistance, including $700 million for joint projects implemented by Ministry of Communities and Territories Development, as per the statement.
Global Witness: Ukraine should focus on building greener future, not fighting with US over resources
Ukraine should be able to focus on building a greener, more resilient future and not exhausting its energy fighting for access to its resources with the US while also having to deal with Russia, Dominik Eagleton, a senior campaigner for international environmental NGO Global Witness, wrote in an op-ed.
Even if Ukraine could fully use its oil, gas, and coal to pay for rebuilding, it would lead to pollution, environmental damage, and climate harm - instead of utilising its green energy sources and moving away from fossil fuels, Eagleton argued.
ECFR: Europe has tools at its disposal to influence Ukraine's future
European leaders may not control what Moscow or Washington do, but they can still use their own tools to influence talks about Ukraine's future and make sure the outcome serves Europe's interests too, Marie Dumoulin, director of the Wider Europe programme at the European Council on Foreign Relations (ECFR), wrote in an op-ed.
Alongside sanctions on Russia, Europe can also use its ongoing military and financial support for Ukraine as leverage in the negotiations, Dumoulin wrote. By promising to help with Ukraine's future security, funding its rebuild, and bringing it closer to the EU, Europeans are taking a clear stand on the outcome of US-Russia talks, according to Dumoulin.
Europe's role in Ukraine's reconstruction hinges on dual-intent integration of displaced Ukrainians, EPC policy brief says
As Ukraine looks ahead to a long-term reconstruction process estimated at over $500 billion, the inclusion and upskilling of displaced Ukrainians across the European Union will be central to the country's recovery, Anastasia Karatzas, a policy analyst in the European Migration and Diversity Programme at the European Policy Centre (EPC), wrote in a recent policy brief.
Karatzas calls for a dual-intent approach - supporting displaced Ukrainians' self-sufficiency in host countries while also facilitating their eventual return to help rebuild Ukraine. This strategy, she argued, will require coordinated action across EU member states and deeper engagement with civil society, diaspora groups, and local authorities.
With approximately 4.2 million Ukrainians currently under temporary protection in the EU, integration efforts have produced mixed results. Employment outcomes vary significantly between countries, and while many displaced individuals have joined the labor market, underemployment and structural barriers persist, as per the paper.
Meanwhile, the policy uncertainty beyond March 2026, when temporary protection is set to expire, adds further complexity. Karatzas warned that without a common EU approach, both Ukraine's reconstruction and displaced persons' futures will be at risk.
Following the initial emergency response, the EU and its member states introduced a series of labor market and integration measures, including early access to jobs, recommendations for fast-tracking the recognition of qualifications, and the EU Talent Pool pilot for job matching.
However, national-level implementation has been inconsistent, according to Karatzas. Germany's focus on language training, for example, has delayed labor market entry for many, while Italy and Poland prioritized quick employment, often at the cost of job quality. The disparities are evident in employment figures: as of 2023, 65% of displaced Ukrainians in Poland were working, compared to just 19% in Italy and 18% in Germany.
Karatzas noted that around 65% of displaced Ukrainians are working-age women, many of whom face care responsibilities and limited access to tailored support. Initiatives like Skills4Recovery, which target women for upskilling in key sectors, are seen as critical models. Women-led diaspora groups have also played a vital role in guiding displaced individuals through labor markets and toward entrepreneurship.
The brief links the success of dual-intent integration to Ukraine's broader recovery prospects. Stable employment abroad provides financial support through remittances, which contributed 8.4% of Ukraine's GDP in 2023. At the same time, building a skilled and mobile workforce will be essential once conditions allow for return.
Social Media Posts
Biosphere Corporation Worker Killed, Warehouse Destroyed
Andriy Zdesenko, CEO of household and hygiene products manufacturer Biosphere Corporation, announced that a direct hit completely destroyed one of the company's warehouses in Dnipro.
"Rescuers, firefighters, and medics are currently there. Sadly, there are injured, and we’ve already been informed of one employee who was killed," he said. "We’ve been building this for years. These are major investments, our work, our team. And even though we anticipated this scenario and relocated part of our production and storage to other facilities in Ukraine in advance — we never expected it to hurt this much."
Ukrainian Railways Boosts Rail Purchases Via Savings
Volodymyr Shemayev, deputy director of corporate finance at Ukrainian Railway, said his company was able to by 20% more rails under the EBRD's "Emergency Support for Ukrainian Railways" program due to a procurement savings.
"Among 7 bidders from Europe and Asia, the Austrian Voestalpine Rail Technology GmbH had the most competitive offer," he said, adding that the company has bought 36 metric tonnes of rails under the program.
Naftogaz Recovers Half of Lost Output
Naftogaz of Ukraine, the Ukrainian national oil and gas company, posted comments from Acting Chairman Roman Chumak that the company has recovered more than half of the gas production lost during a wave of Russian attacks earlier this year.
Chumak made the comments in a briefing at the Ministry of Energy, adding that "This heating season has been the most difficult since the beginning of the full-scale invasion. In the first three months alone, our facilities were hit by more than 100 missiles and drones across eight separate attacks.”
Ukrainian Entrepreneurs Union Opens Brussels Office
Kateryna Glazkova, executive director at the Union of Ukrainian Entrepreneurs, said her union has now opened a representative office in Brussels.
"Over the next five years, key decisions for Ukraine will be made here in Brussels, and it is essential that the voice of Ukrainian business is heard loudly, confidently, and professionally and that the position of our companies from various industries is taken into account."
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