Bloomberg: EU to provide Ukraine only 600,000 shells out of the promised million
Category
Ukraine
Publication date

Bloomberg: EU to provide Ukraine only 600,000 shells out of the promised million

Artillery shells
Source:  Bloomberg

The European Union will not be able to provide the promised million shells to Ukraine by March 1, 2024. By this time, only 600,000 ammunition will be collected in the EU countries.

What is known about the transfer of shells from the EU to Ukraine

According to diplomats, "European allies will fall short of the 1 million shells they promised to deliver by March 1," providing only about 600,000 by that deadline amid ongoing production delays and fears of stockpile depletion.

A meeting of defense ministers in Brussels this week may try to count other deliveries to increase the total, but will still fall short of the one million target set last year, the paper quoted diplomats as saying.

If Ukrainian forces do not have the shells to keep up the pressure, Russia can continue to fire artillery while its infantry attack Ukrainian positions.

This is an unfair fight for Ukrainian defenders, said the Rand Corp. researcher and US Army Reserve Officer Ann Marie Daley.

Shells for Ukraine

In March 2023, the ministers of defence and foreign affairs of the EU agreed on a plan for the joint procurement of ammunition. It envisages providing Ukraine with 1 million shells over the next 12 months. In particular, it was about seven countries.

But already in November, the EU informed its members that it is unlikely to be able to transfer the promised 1 million artillery shells to Ukraine. This plan should be completed by March 2024.

At the same time, at the end of November, the European Commissioner for the EU internal market, Thierry Breton, citing statistical data, stated that by the spring of 2024, the production potential of defence enterprises in the EU would amount to more than a million artillery shells. However, the transfer of ammunition to Ukraine requires an appropriate solution, which does not exist yet.

Category
Ukraine
Publication date

The Cabinet of Ministers has expanded booking options — what has changed?

Ministry of Economy of Ukraine
Details of the new Cabinet decision

The Ukrainian government has officially expanded the reservation of military personnel for critical infrastructure and defense sector enterprises. The new rules are aimed at ensuring the stable operation of key sectors of the country's economy and defense.

Points of attention

  • The Defense Procurement Agency (AOP) and the State Logistics Operator (SLO) are now eligible to book employees, with applications for reservation exclusively accepted through the 'Diya' portal.
  • Bookings made after updating critical business status are valid for up to one year, emphasizing the importance of complying with the new requirements for continued booking eligibility.

Details of the new Cabinet decision

According to the government's decision, the reservation quota for enterprises providing water supply, wastewater treatment, waste management, and servicing critical infrastructure has been increased from 50% to 75% .

In addition, requirements for energy companies affected by the war were canceled, primarily regarding an average monthly salary of at least UAH 20,000 and the absence of tax arrears.

The Defense Procurement Agency (AOP) and the State Logistics Operator (SLO) have been added to the list of enterprises that can book employees.

You can submit an application for employee reservation exclusively through the "Diya" portal, the Ministry of Economy notes.

What is important to understand is that the reservation will be displayed in the "Reserve+" application and will be valid for up to one year.

As mentioned earlier, starting April 1, only companies that have already updated their criticality status in accordance with the new requirements will be able to continue booking their specialists.

Category
Economics
Publication date

Rosnano, the state corporation founded by Putin, has declared technical default

Center for Countering Disinformation of Ukraine
Rosnano

The Russian state corporation Rosnano, founded by order of illegitimate Russian President Vladimir Putin, has declared a technical default on the issue of state-guaranteed bonds, the Center for Countering Disinformation under the National Security and Defense Council of Ukraine reports.

Points of attention

  • Rosnano, a state corporation founded by Putin, has declared a technical default on state-guaranteed bonds, signaling financial troubles.
  • The company's ambitious projects failed to materialize, leading to billions in debts and lack of funding, especially worsened by the ongoing war in Ukraine.
  • Initially created to showcase Russia's technological potential, Rosnano struggled with failed projects and lack of profitability despite generous state support.

Rosnano declared technical default despite state support

Russian state corporation Rosnano, which was created to develop nanotechnology, has declared a technical default on a state-guaranteed bond issue. The company was unable to make a planned payment of 1 billion rubles to investors.

As noted in the Central Research Center, from the moment of its creation, Rosnano was exclusively an image project, which aimed to show the world "Russia's high technological potential."

But in fact, the company was unable to realize its ambitions - despite generous state funding, most projects were failures and did not bring profits. In 2021, Rusnano was already on the verge of default, but then the state came to the aid of the company.

The Center also emphasized that with the start of Russia's full-scale war against Ukraine, things at Rosnano got even worse. In 2023, the state corporation found itself on the verge of bankruptcy due to billions in debts.

But the state is now in no hurry to save the company from collapse, because due to the huge costs of the war, there are no longer any extra funds for the propaganda of the false "technological leadership of the Russian Federation."

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