Ukraine launched a new effort to restructure certain sovereign debt obligations as the nation vies to improve its financial health and defend itself against Russia, WSJ Pro Bankruptcy reported. The finance ministry on Monday announced an offer for investors holding $3.2 billion of growth-linked warrants to swap them into a mix of cash and new bonds. Ukraine defaulted on the warrants over the summer after failing to make payments due in June. The warrants entitle holders to payments if the nation’s gross domestic product growth surpasses 3%.

Two Ukrainian oligarchs have been told to pay $3bn (£2.3bn) in damages to the country’s largest bank following an eight-year fraud battle at London’s High Court, the Telegraph reported. On Monday, Ihor Kolomoisky and Gennadiy Bogolyubov were ordered to repay the funds to state-owned lender PrivatBank after a judge ruled they took part in a “fraud of Byzantine complexity”. The case saw the two former billionaires extract $1.8bn from PrivatBank through a series of fraudulent loans between 2013 and 2014 while they controlled the lender as the bank’s two largest shareholders.

For three years, a crack team of detectives gathered each weekday morning around a whiteboard at the German Federal Police headquarters in Potsdam, near Berlin. Now their investigation into who was behind the greatest act of sabotage in modern history—the bombing of the Nord Stream pipelines—is threatening to splinter support for Ukraine, the country they hold responsible, the Wall Street Journal reported. Poland already has refused to extradite one of the suspects to stand trial in Germany.

The Management Board of the National Bank of Ukraine has decided to classify JSC “RVS Bank” as insolvent, Mezha.net reported. According to the regulator’s press service, the corresponding decision was published on 4 November 2025 under No. 398-rsh/BT. It noted that previously the bank had been in the troubled category, but continued risky activities and violated prudential norms, in particular capital adequacy norms. At the same time, the management and owners of a significant stake did not take measures to prevent insolvency.

State-owned Ukrainian Railways has prepared a recovery plan that includes raising freight tariffs to help control its debt amid intensified Russian attacks and falling cargo deliveries, CEO Oleksandr Pertsovskyi said in an interview, Reuters reported. The company, which employs 170,000 people and dominates freight and passenger transport in Ukraine, has seen cargo traffic almost halved since early 2022, while operation costs are rising because of war damage.

The International Monetary Fund said on Monday it has completed its eighth review of Ukraine's $15.5 billion four-year support program, paving the way for a disbursement of an additional $500 million to the war-torn country, Reuters reported. That will bring total disbursements to $10.6 billion, the IMF said in a statement, following its board's approval of the review of Ukraine's Extended Fund Facility. It warned of ongoing and "exceptionally high" risks to the country's outlook. “Russia’s war continues to take a devastating social and economic toll on Ukraine.

Ukraine has incurred a sovereign credit default after electing not to make payments owed Monday to holders of $2.6 billion of its debt securities, WSJ Pro Bankruptcy reported.

Ukraine is starting to consider a shift away from the U.S. dollar, possibly linking its currency more closely to the euro amid the splintering of global trade and its growing ties to Europe, Central Bank Governor Andriy Pyshnyi told Reuters.

Ukraine said Thursday that it failed to strike a deal to restructure $2.6 billion of debt securities, heightening its risk of default, WSJ Pro Bankruptcy reported. Ukraine’s finance ministry said it didn’t accept a proposal from a group of investors holding warrants linked to the country’s gross domestic product ahead of a payment due around the end of May. Ukraine intends to continue to engage with warrant holders and consider all available restructuring options, the finance ministry said.