Doing business
For the second year of Russia’s full-scale military aggression to Ukraine, Luxembourg has been providing invaluable humanitarian, financial and military assistance to Ukrainians. The Government of Luxembourg supports the Ukrainian Peace Formula and works together with Ukraine to stop the russian aggression. It also supports all the restrictive measures imposed by the European Union against the country-terrorist russia.
In June 2023, the Chamber of Deputies of Luxembourg adopted a resolution recognising the Holodomor of 1932-1933 as genocide of the Ukrainian people. This step honours the millions of victims and restores historical justice. International recognition of the Holodomor as genocide keeps growing.
The Ukrainian Days were held in Luxembourg. This event allowed everyone to discover the magnificence and diversity of Ukrainian culture and art. A mythological photo exhibition, a concert by the “Ukrainian Paganini”, poetry readings in French, a presentation of delicious Ukrainian dishes and much more were held during the opening of the event.
The Ministry of Culture of Luxembourg has allocated UAH 1.3 million to support Ukrainian artists. This activity is important for supporting Ukrainian identity and culture, as well as freedom of artistic expression as a fundamental European value. These funds will be used to support individual artists under the grant programme “Restoration of cultural and artistic activities”.
Luxembourg continues to impose sanctions against Russia. The Luxembourg court, following a lawsuit filed by former Yukos stakeholders, arrested shares in the portfolio of russian state corporation Rosnano, OCSiAl, which was valued at $2 billion.
The country continues to provide humanitarian aid. Luxembourg has provided Ukraine with 14 armoured ambulances manufactured by the British company Venari. The vehicles have been sent to the frontline where they will carry out their main mission – to save the lives of our defenders who are defending our country, as well as civilians who are constantly falling victim to barbaric russian shelling.
In 2022, a small country by European standards spent 16% of its defence budget on military assistance to Ukraine. Despite its small army, the country has been strongly supporting Ukraine with weapons. The Luxembourg government has also established a company that has signed contracts to supply Ukraine with ammunition for Soviet weapons. These include missiles for Grad multiple rocket launchers and hand-held anti-tank grenade launchers.
The development of mutually beneficial trade and economic cooperation also remains an important priority for both countries. An analysis of export and import operations of Dnipropetrovsk region with Luxembourg demonstrates a high level of partnership, as this country is an important trade partner of the region.
According to the results of 2022, the volume of goods exported from Dnipropetrovsk region amounted to $5.2 million. The goods that are in demand among Luxembourg consumers are ferrous metals, machinery and equipment, plastics, polymers, parts of railway locomotives, etc.
Export operations were carried out by 9 companies from Dnipropetrovsk region. The main exporters are companies from the metallurgical complex, the processing industry and machine-building enterprises.
TOP-5 exporters (ranked by volume of exported products):
Imports of goods from Luxembourg to Dnipropetrovsk region totalled $1.4 million and decreased by 58% compared to 2021. Traditionally, Dnipropetrovsk region purchased tools, cutlery, furniture, paper and cardboard, machinery and equipment, etc.
Import operations were carried out by 19 importers.
TOP-5 importers (ranked by volume of imported products):
Import operations were mainly carried out by metallurgical, trade, processing and construction companies.
Source: information for the article was taken from open online sources