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Ukraine

Ukraine is a country in Eastern Europe bordered by Russia to the east and north-east, Belarus to the north, Poland, Slovakia and Hungary to the west, Romania and Moldova to the south-west, and the Black Sea and Sea of Azov to the south. The capital and largest city is Kyiv. Ukraine has a population of about 41-million and covers an area of more than 600 000 square kilometres, making it the second-largest country entirely within Europe after Russia. The economy is diverse, with significant agricultural output including wheat, maize and sunflower oil, earning Ukraine the designation of a major global breadbasket. The country also has substantial heavy industry, including steel production, machinery manufacturing and a historically important aerospace and defence sector. Ukraine possesses considerable mineral resources, including iron ore, coal, manganese and titanium, and has been a key transit route for natural gas from Russia to Europe. Since gaining independence from the Soviet Union in 1991, Ukraine has pursued closer integration with European institutions, signing an association agreement with the European Union in 2014. The annexation of Crimea by Russia in 2014 and the outbreak of conflict in the eastern Donbas region marked the beginning of prolonged geopolitical tension. Russia's full-scale invasion in February 2022 has caused widespread destruction, displaced millions and severely disrupted Ukraine's economy and global supply chains, particularly in grain and fertiliser exports. The currency is the hryvnia.

Ukraine News


LNG tanker
LNG prices could go higher in significant volatility, Uniper executive says
4th June 2026 By: Reuters

Liquefied natural gas (LNG) prices could rise further in significant volatility than experienced so far during the Iran war if supply disruptions coalesce with hot weather in Asia and European... 


LNG vessel at sea
Canada inks first LNG supply agreement with Germany's SEFE for British Columbia project
28th May 2026 By: Reuters

Canada and Germany’s State-owned energy firm SEFE said on Wednesday they had reached what Canada described as its first liquefied natural gas (LNG) supply deal with a European buyer, underscoring... 


Aluminium bars
Warning lights flash as aluminium reels from Gulf shock
25th May 2026 By: Reuters

The Iran war is shaping up to be one of the biggest supply shocks in the history of the aluminium market. Gulf production of the metal, which is used across sectors as diverse as transport,... 


Photo of Terence Creamer
Don’t waste the crisis
15th May 2026 By: Terence Creamer

South Africa is experiencing its third energy crisis of this decade. While electricity loadshedding has been a threat for far longer, the most extreme phase was definitely during 2022 and 2023,... 


An image of a automotive assembly line
Structural constraints leave OEMs’ supply chain exposed
15th May 2026 By: Nadine Ramdass

Despite experiencing frequent supply chain disruptions over the last six years, suppliers remain reactive rather than proactive, owing to structural constraints within the value chain, leaving... 


Aluminium blocks
CRU sees aluminium prices above $4 000/t due to Iran war
12th May 2026 By: Reuters

Aluminium prices are expected to be above $4 000 per metric ton between the third quarter of 2026 and the second quarter of 2027 due to a market deficit caused mainly by the Iran war, an analyst... 


Indonesia coal heaps
Iran war gives small boost to thermal coal, further gains possible - columnist
5th May 2026 By: Reuters

Seaborne thermal coal prices in Asia rallied in the wake of the US and Israeli war against Iran, but the gains are modest and nowhere near the size seen during the crisis created by Russia's... 


Photo of Terence Creamer
Supply lines
1st May 2026 By: Terence Creamer

South Africa has not escaped the fuel price shocks associated with disruptions to shipping in the Strait of Hormuz energy corridor and the damage to refinery and other infrastructure in the Gulf.... 


World Bank warns largest energy price surge in four years will drive inflation
28th April 2026 By: Schalk Burger

Energy prices are projected to surge by 24% this year to their highest level since Russia’s invasion of Ukraine in 2022, as the war in the Middle East sends a severe shock through global commodity... 


Alcoa aluminium smelter
Aluminium market headed for 'unprecedented crisis' warns WoodMac
16th April 2026 By: Reuters

The Iran war is triggering an unprecedented crisis in the global aluminium market with potentially devastating knock-on effects across sectors as diverse as construction, packaging, transport and... 


Rail cars with coal
Glencore poised to benefit from Newcastle coal price surge and some gas-to-coal switching
1st April 2026 By: Marleny Arnoldi

Diversified miner Glencore is set to benefit from Newcastle coal prices trending above $165/t since the US and Israel’s conflict started with Iran on February 28. The coal price currently exceeds... 


Cobalt stone
Mineral supply security advocate warns of Europe’s impending critical minerals crisis
1st April 2026 By: Marleny Arnoldi

London-based mining services provider Norge Mineraler says the closure of the Strait of Hormuz will have a direct impact on Europe’s ability to boost military capabilities, particularly if the... 


Finance Minister Enoch Godongwana
South Africa considers lowering fuel levy due to Iran war, official says
31st March 2026 By: Reuters

South Africa's Finance Minister Enoch Godongwana is considering lowering the fuel levy to cushion the impact of the Iran war on domestic fuel prices, a senior government official told Reuters.... 


Diesel disruptions and early hikes point to possible gap in pricing framework
Diesel disruptions and early hikes point to possible gap in pricing framework
25th March 2026 By: Terence Creamer

Government and the liquid fuels industry insist that recent disruptions to diesel supply in parts of South Africa are not related to a physical shortage of the fuel in the country. However, the... 


Prolonged Iran war may push copper price below $10 000/t, disrupt sulphuric acid supply
Prolonged Iran war may push copper price below $10 000/t, disrupt sulphuric acid supply
25th March 2026 By: Sabrina Jardim

As war in the Middle East continues, a prolonged Iran war would squeeze the big-three copper miners' earnings before interest, taxes, depreciation and amortisation (Ebitda) more than consensus... 


IEA executive director Fatih Birol
IEA discussing further oil stock releases, Birol says
23rd March 2026 By: Reuters

The International Energy Agency is consulting with governments in Asia and Europe on the release of more stockpiled oil "if necessary" due to the Iran war, executive director Fatih Birol said on... 


Kazatomprom says geopolitical tensions yet to disrupt uranium exports
Kazatomprom says geopolitical tensions yet to disrupt uranium exports
20th March 2026 By: Mariaan Webb

Kazakhstan-based uranium major Kazatomprom says ongoing geopolitical developments, including conflicts in Ukraine and the Middle East, have not affected its operations or financial position,... 


Photo of Terence Creamer
Fundamentally disrupted
20th March 2026 By: Terence Creamer

Peace is not merely the absence of war. Yet when conflicts rage, the foremost priority is always to find ways to stop the killing and the destruction of infrastructure. Only then is there any... 


Gold cubes
Gold, silver prices lower as concerns over Middle East conflict ease
10th March 2026 By: Marleny Arnoldi

Precious metals refiner Heraeus says the initial safe haven boost to gold has faded, with the gold price still suffering from the fallout of the rapid rally to its record high. Safe-haven... 


Ferrexpo flags risk from collapsed Swiss bank; shares tank
9th March 2026 By: Reuters

Iron-ore pellet producer Ferrexpo on Monday warned of "material negative consequences" unless it secures alternative banking arrangements after its Swiss banking partner MBaer collapsed, sending... 


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