Contact:
Gennadi Silbermann
Phone: +49(0)30 81003246
E-Mail: g.silbermann@silvercomm.eu
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Berlin (pts031/27.10.2010/15:00) - EU experts have expressed growing concerns about the current situation in the Ukrainian energy market, particularly in the oil and fuel sector that might undermine the chances of Ukraine signing the EU Association Agreement. The question of the potential of Ukraine as an economic actor depends on its ability to progress in the reforms in order to increase transparency. According to information from the American Chamber in Ukraine, in August and September 2010 alone around 330 thousand tons of motor fuels and crude oil have been imported questionably, and in some cases illegally.
A new energy strategy 2011-2020 is expected from the European Commission on November 17th which will focus on how to improve competitiveness, security of supply, sustainability, the energy market and also the relations with third countries. In his speech about the "Europeanisation of Energy Policy" at the Dinner Debate with the European Energy Forum in Strasbourg on 19th October, EU Commissioner for Energy, Günther Oettinger stressed that there is still no common external approach towards suppliers or transit countries and that it is time for the EU to strengthen the external dimension of the internal market.
Currently the non-transparent business environment in Ukraine leaves international investors in the energy sector noticeably disturbed. Western businesses involved in the export and sales of crude and fuel say that the system of preferences and 'fraud schemes' currently in place allows certain Ukrainian companies to import crude and fuel without paying any excise and VAT. The situation creates an unlevel playing field and severely distorts competition, not to mention sizable underpayments of taxes and fees to Ukraine's state budget. More alarmingly, the volumes of illegally imported goods seem to be growing on a weekly basis and are already not limited to solely energy products. Such a situation puts the law-abiding international investors operating in Ukrainian oil and fuel sector on the edge of survival.
Under the Draft EU Association Agreement and future EU-Ukraine Free Trade Area agreement, Ukraine pledges to undertake efforts to ensure effective customs control, which would support the development of legal trade and commerce while combating fraud "shadow" schemes. This question was raised during the meeting of Ukraine's Prime Minister Mykola Azarov with EU socialists' leader at the European Parliament on 13th of October, but remains yet unanswered.
Only few days ago the European Parliament decided to postpone the vote on a controversial resolution on Ukraine after the local elections. The text of the resolution will be redrafted and adopted during the next plenary session on November 10th and 11th. The new version of the resolution will also be based on the next EP delegation in Kiev on the first week of November (3rd to 5th).
More information: http://www.usubc.org/site/recent-news/ukraine-business-news-five-articles
Contact:
Silvercomm
Gennadi Silbermann
Tel: +49(0)30 81003246
g.silbermann@silvercomm.eu
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