Ukraine News Updates - October 2, 2025
Polish BGK Bank to Operate in Ukraine
Ukraine's Minister of Economy Oleksiy Sobolev and Poland's Minister of Finance Andrzej Domański signed an agreement enabling Bank Gospodarstwa Krajowego (BGK) to operate in Ukraine. The agreement allows BGK to provide financial and technical assistance to government, state, and private institutions through loans, grants, guarantees, and other financial instruments supporting reconstruction and development projects. BGK can establish representative offices in Ukraine, hire staff, and conduct negotiations. The ministers also discussed EU integration, export duties, affordable mortgage lending, investment projects support, industrial parks development, and public investment management reform.
Read more
Azortech Industrial Park Under Construction
Ukraine's Cabinet of Ministers registered the Azortech industrial park in Andrushivka, Zhytomyr region, as the country's 106th industrial park. Total investment in the park is estimated at 838.8 million hryvnias (approximately $20.5 million). The park will be established on 21.8 hectares for 30 years, focusing on bioethanol, feed, starch, flour, and other processing industries. The project is expected to create over 520 new jobs. Initiator company AZOR-LTD plans to invest $6.1 million of its own funds and attract additional external investments. Ukraine registered 31 industrial parks in 2024.
Read more
EU Allocates €4 Billion to Ukraine
European Commission President Ursula von der Leyen announced on October 1 that the EU expects Ukraine to invest €2 billion out of €4 billion transferred that day into drone production. Von der Leyen stated this before an informal European Council summit in Copenhagen, emphasizing Ukraine as Europe's first line of defense. The funds are part of the G7 Extraordinary Revenue Acceleration (ERA) initiative, a mechanism providing up to $50 billion in loans repaid using profits from immobilized Russian sovereign assets. G7 countries and the EU have provided Ukraine nearly $28 billion through ERA in 2024-2025.
Read more
Ukraine Receives €300M for Gas Reserves
The European Investment Bank will provide Ukraine with a €300 million loan to purchase strategic gas reserves ahead of the heating season. The agreement was signed between Naftogaz Group and the European Investment Bank under European Commission guarantees. Ukraine's official Svitlana Hrynchuk expressed gratitude for the timely support, noting daily Russian attacks targeting Ukraine's energy system. The European financial support will help Ukraine accumulate sufficient gas reserves to navigate the heating season more confidently and strengthen energy resilience against wartime challenges.
Read more
PACE Backs Ukraine Compensation Commission
The Parliamentary Assembly of the Council of Europe (PACE) unanimously supported a draft convention establishing an international claims commission for Ukraine to examine compensation claims for damages caused by Russian aggression. The commission will become the second element of the compensation mechanism after the Damage Register, which has received over 60,000 claims. The new instrument will allow Ukraine as a state, as well as individuals and legal entities, to file claims for damages. Commission decisions will be final and serve as legal grounds for compensation. PACE emphasized the need to expand timeframes to cover crimes since 2014.
Read more
Chornobyl Nuclear Plant Lost Power
Chornobyl Nuclear Power Plant experienced a blackout lasting over three hours on October 1 following Russian strikes on energy infrastructure in Slavutych. The attack caused power outages at the New Safe Confinement structure isolating the destroyed fourth reactor unit and the spent fuel storage facility containing over 3,250 tons of material. President Volodymyr Zelensky stated Russia could not have been unaware of the consequences for Chornobyl when striking Slavutych. Energy Minister Svitlana Hrynchuk confirmed electricity was restored by 23:00, with radiation levels remaining within control limits. The attack left 307,000 consumers without power across several districts.
Read more
Odesa Storm Claims Ten Lives
Rescue operations concluded in Odesa following severe weather that killed ten people and required for over 380 individuals. Emergency services completed water removal from more than 60 facilities and continue working at approximately 30 additional sites. Nearly 130 pumps removed over 15,000 cubic meters of water from underground parking facilities, which experienced the most severe flooding. Of 42 flooded shelters, 40 have been restored to operational status. On September 30, Odesa and surrounding areas received nearly two months' worth of rainfall in one day, causing street flooding, infrastructure damage, and power outages.