Today's Contents
Just The Facts:
- Ukraine working to sign minerals deal with US 'as fast as we can,' finance minister says
- Ukraine fails to reach deal on GDP warrants restructuring
- Lavrov says peace talks with the US are 'moving in the right direction'
- Poland's Orlen to deliver additional 100 million cubic meters of LNG to Naftogaz
- EBRD approves €10 million in emergency liquidity financing for Lviv municipal utilities
Reporter's Notepad:
- A Week in Infographics
Here's What They Think:
- The Wall Street Journal: Trump mustn't hand over Ukraine to Russia
- ECFR: Europe must prepare for possible war with Russia if peacekeepers are deployed
Sober Second Thought:
- Millions return to Ukraine but struggle with services, income, and sustainability, IOM survey finds
Rebuilder's Social
- Finland's Peikko celebrates factory opening in Ukraine, UkraineInvest updates guide for Polish investors and Ukrainian Railway reports on latest Russian attack on infrastructure.
Ukraine working to sign minerals deal with US 'as fast as we can,' finance minister says
Ukraine's Finance Minister Serhii Marchenko said that government officials are working "as fast as we can" to sign the so-called minerals deal with the US, but that some issues are still under discussion, as quoted by Reuters.
"We are working as fast as we can to sign the deal," Marchenko told Reuters on Thursday in Washington, where he is attending the Spring Meetings of the International Monetary Fund and World Bank.
Last week, the US and Ukraine signed a memorandum of intent on the minerals deal, reaffirming their commitment to conclude the agreement. The memorandum outlines plans to establish a reconstruction fund as part of the broader economic partnership. Both sides aim to finalize the agreement by April 26, as per the memorandum.
US President Donald Trump has said he expected the deal to be signed on Thursday, but Marchenko said he did not expect a signing this week.
"There was progress and now our teams are working very closely together. There are still some questions which we are discussing," Marchenko said after an event hosted by the Ukrainian embassy, as quoted by Reuters.
On Wednesday, Ukraine's Prime Minister Denys Shmyhal met with US Secretary of the Treasury Scott Bessent in Washington to discuss the deal, among other issues.
During the meeting, which was also attended by Marchenko, Bessent "emphasized the need to conclude technical talks and sign the economic partnership between the United States and Ukraine as soon as possible, as per the readout from the meeting by the US Treasury.
Ukraine fails to reach deal on GDP warrants restructuring
Ukraine's government said it has failed to reach an agreement with investors on the restructuring of $3.2 billion worth of debt linked to economic growth or so-called GDP warrants.
"Ukraine indicated that it could not accept the Restricted Holders' Proposal and declined to make any further proposal," the government said in a statement with the Euronext bourse.
Ukraine offered two options to warrant holders: either swap the warrants for bonds, or agree to suspend payments until 2028 in return for additional bonds and an extension of a buyback option until May 2029, as per the statement.
The bondholders proposed Ukraine paying $406 million in cash plus $209 million in the form of new bonds, which the government rejected.
Ukraine has been in talks with holders of GDP warrants to restructure a $500 million payment due on May 31, linked to the economy's performance in 2023.
"The GDP warrants were designed for a world that no longer exists. Ukraine's modest economic growth in 2023 was not a sign of surging prosperity but a fragile rebound from a nearly 30% downturn caused by Russia’s full-scale invasion. These financial instruments must not become an obstacle to our recovery. Our objective is to reach a fair and comprehensive solution to this issue," Finance Minister Sergii Marchenko said in a press release.
Lavrov says peace talks with the US are 'moving in the right direction'
Russian Foreign Minister Sergey Lavrov said in an interview with CBS that negotiations with the US to end the war in Ukraine are "moving in the right direction."
"We continue our contacts with the American side on the situation in Ukraine, there are several signs that we are moving in the right direction," Lavrov told CBS, adding that US President Donald Trump is "probably the only leader on Earth who recognized the need to address the root causes of this situation."
Lavrov also said that the Kremlin is "ready to reach a deal" with the US on Ukraine, noting, however, that some elements need to be "fine-tuned."
Lavrov spoke after at least 12 people were killed and more than 100 injured in a Russian attack late Thursday on various districts of Kyiv.
Asked about the Kyiv strike, Lavrov stated that "we only target military goals or civilian sites used by the military."
In a rebuke of Russian President Vladimir Putin, Trump wrote in a post on Truth Social that he was "not happy with the Russian strikes on KYIV."
"Not necessary, and very bad timing. Vladimir, STOP! 5000 soldiers a week are dying. Lets get the Peace Deal DONE!," Trump wrote.
Trump's envoy Steve Witkoff is expected to meet Putin in Moscow on Friday for talks on Ukraine. That would be their fourth meeting about ending the war in Ukraine.
Poland's Orlen to deliver additional 100 million cubic meters of LNG to Naftogaz
Polish energy firm Orlen will supply an additional 100 million cubic meters (mcm) of liquified natural gas (LNG) to Ukraine's oil and gas company Naftogaz, according to a press release from Orlen.
This is the third agreement signed under the firms' long-term collaboration framework from March, raising the total volume of US-sourced gas contracted for supply to Ukraine to 300 million cubic metres, the release said.
"This supply further strengthens the energy partnership between our companies and supports the delivery of a reliable resource to Ukrainian consumers," said Roman Chumak, the acting chairman of Naftogaz board's.
"As we prepare for the next heating season, such contracts remain a key element of our strategy to diversify supply and bolster the country’s energy resilience," he added.
The contract highlights Orlen's increasing role as a key regional supplier of natural gas, according Robert Soszyński, the company's VP for operations. Soszyński noted that the partnership plays a key role in strengthening Ukraine's energy security, supported by the Polish firm's diversified supply portfolio and the effective use of Polish transmission infrastructure.
"We remain committed to further supporting Ukraine by ensuring access to stable and diversified gas sources," he added.
EBRD approves €10 million in emergency liquidity financing for Lviv municipal utilities
The European Bank for Reconstruction and Development (EBRD) has approved a senior loan of up to €10 million in emergency liquidity financing for Lviv's municipal utilities and operators in 2025-2026.
The EBRD noted that, without its support, the ongoing war, forced displacement, and labour market instability pose a significant risk to the continuity of infrastructure services—potentially undermining Lviv's economic stability and disrupting private sector operations across the city.
The expected recipients of the loan include Lvivelectrotrans, Lviv Trolleybus, Zelene Misto, Lviv Solid Waste, and Lvivvodokanal, who are also existing EBRD clients, according to the release.
Due to war-related risks, the loan will benefit from a partial first loss risk cover under the EU Ukraine Investment Framework Municipal Infrastructure and Industrial Resilience Program.
Lviv, the largest city in western Ukraine and the seventh largest nationally, has a population of around 758,000, rising to about 1 million in the greater area due to an influx of internally displaced people, according to the release. Its strategic location, strong industrial base, and status as a key educational and economic hub make it a natural destination for refugees from other parts of Ukraine.
Dear Subscriber,
Normally on Friday, we recap the week's news in this space. We're thinking about spicing things up though. Instead of A Week in News, today you get a sampling of images from social media and various publications in ...
A Week in Infographics
Research and consultancy firm DataDriven this week brought us this infographic highlighting profit of UAV manufacturers in Ukraine:
On a similar note, Ukraine placed fourth in this infographic published this week by Power Geopolitics:
GMK Center illustrates the state of the Ukrainian steel market in Q1 ...
Texty.Org charts the intensity of Russian strikes on Ukraine before and after the inauguration of Donald Trump in the United States ...
And Al Jazeera used UNHCR data this week in this infographic portraying the number of border crossings out of Ukraine since the full-scale invasion of Feb 24. 2022 ...
The Wall Street Journal: Trump mustn't hand over Ukraine to Russia
US President Donald Trump must not allow his legacy to be handing over Ukraine to Russia, as from the latest attack on Kyiv, it is evident that Russian leader Vladimir Putin wants to subsume Ukraine as a free nation, the Wall Street Journal wrote in an editorial.
It is now clear that Putin did not invade Ukraine over security concerns over potential NATO accession, nor was the invasion about Russian ties to Crimea, or about a few bordering provinces, the editorial read.
ECFR: Europe must prepare for possible war with Russia if peacekeepers are deployed
Europe must be ready for the possibility that deploying a peacekeeping force to Ukraine could escalate into direct conflict with Russia, Kirill Shamiev, a policy fellow at the European Council on Foreign Relations (ECFR), wrote in an op-ed.
While building up direct defense capabilities is expensive and slow, European countries can act now by strengthening legal frameworks to meet potential wartime personnel demands. At the same time, the EU should intensify diplomatic efforts to contain the conflict and prevent broader escalation, Shamiev wrote.
Millions return to Ukraine but struggle with services, income, and sustainability, IOM survey finds
More than 4.1 million Ukrainians have returned to their primary residences since the start of Russia's full-scale invasion in February 2022, but many face serious issues reintegrating into daily life, including poor access to essential services and sustainable livelihoods, according to a survey conducted by the International Organization for Migration (IOM).
Nearly three-quarters of returnees (75%) reported insufficient access to at least one basic good or service, most frequently citing income-earning opportunities, power generators, and medicines. Many are also relying on unsustainable coping strategies, such as reducing health expenditures, spending savings, or depending on humanitarian aid, the IOM said.
One in three returnees (1.55 million people) has returned to frontline regions. These returnees are more likely to be elderly and to settle in major urban centers like Kharkiv, Mykolaiv, and Chernihiv. Returns to frontline zones have accounted for around 40% of all returns over the past nine months, a share that has steadily grown since 2022.
Kyiv City remains the top destination for returnees, hosting 23% of the total, followed by Kharkivska and Kyivska oblasts. While over half of returnees (52%) had come back more than two years ago, new returns continue, with 9% reporting they returned in the three months prior to the survey (February–April 2025). Nearly half (48%) of all returnees came from other oblasts within Ukraine, and 26% returned from abroad, mostly from Poland, Germany, and the Czech Republic.
Despite coming home, some returnees are not staying. About 7%, an estimated 280,000 people, reported they were considering moving again, with nearly a third of them planning to leave the country. Those considering re-displacement were far more likely to report access gaps (90%) and use of extreme coping strategies (92%).
Returnees frequently face steeper challenges than the non-displaced population. Although both groups reported similar levels of need, returnees were more likely to rely on humanitarian assistance (29% versus 19%), move to poorer-quality housing, skip rent, or sell property to make ends meet. Access gaps were particularly pronounced in the country's central, southern, and western regions.
Women, low-income households, and those with chronically ill or disabled members were especially vulnerable. Female returnees were more likely to report access issues related to hygiene, education, and mental health services. Meanwhile, 85% of returnees in low-income households reported access gaps, and nearly one-third said their families had already exhausted emergency coping strategies.
Among those returning from abroad in late 2024, only 6% intended to stay long-term. Most were coming back temporarily, often to assess conditions or reconnect with family. Immediate needs upon arrival included financial aid, health services, medicine, and information, according to the survey.
The findings underline the need for sustained support to prevent returns from becoming unsustainable. The IOM notes that challenges in access to services and income sources must be addressed to promote durable solutions for those rebuilding their lives after displacement.
Data for the survey was collected between February 5 and April 4, through nationwide phone interviews with over 40,000 respondents. The findings cover only government-controlled areas and exclude occupied territories, Crimea, and individuals currently residing abroad.
Social Media Posts
New Finnish Factory in Ukraine
The East Office of Finnish Industries Oy, which represents Finnish companies in Ukraine, celebrated building material supplier Peikko Ukraine's opening of a factory in Bila Tserkva, which took place in a ceremony Thursday.
"It was clear from the turnout that Ukrainian partners value both the investment and the long-term commitment behind it. Each investment matters. Each step forward adds up," the post said.
New Guide for Polish Investors
UkraineInvest, the state investment promotion agency, announced that it updated the Polish version of the UkraineInvest Guide: Rebuilding Ukraine with the Private Sector.
Updates include new information on companies that have recently started operations in Ukraine, including 201 from Turkey, 90 from Poland, and 89 from the US. It also includes updates on existing investment projects.
Rail Workers Injured
Oleksandr Pertsovskyi, chairman of the management board of Ukrainian Railway, posted about the injuries in the latest Russian attack on his company's infrastructure.
"2 railworkers injured in an overnight attack: train attendant in Zhytomyr is in hospital right now and train driver in Kyiv received first aid right on the spot and continued running the train."
URN Daily: Sense Bank and Ukrgasbank for sale? And US seeks to cancel $4.7 billion of Ukraine's debt
