KIEV, Dec. 22 - Ukraine on Tuesday launched in commercial operation the first hydropower unit at Dnister Hydroelectric Pumped Storage Power Plant, which is designed to be the biggest such plant in Europe, the government said.

KIEV, Dec. 22 – Ukraine’s cash-strapped government appears to have looted some 6.2 billion hryvnias ($780 million) out of state-controlled accounts in its scramble to stay financially afloat, President Viktor Yushchenko said in a filing asking prosecutors to investigate the case.

KIEV, Dec. 21 – President Viktor Yushchenko is not going to nominate a new candidate for the post of National Bank of Ukraine governor for the time being, presidential secretariat First Deputy Chairman Oleksandr Shlapak said.

KIEV, Dec. 21 – Ukraine in February 2010 could be again included on the FATF blacklist (the Financial Action Task Force), if it does not approve a new basic profile law by December 31, according to a statement posted on the Web site of the State Committee for Financial Monitoring of Ukraine.

BRUSSELS, Dec. 21 – European Parliament President Jerzy Buzek believes that the results of the January presidential election in Ukraine will not affect relations between Kiev and Brussels.

"I believe that Ukraine is in need of the EU's support and assistance, especially during times of crisis. Therefore, I do not think that we can afford in this difficult economic period to slow down our cooperation.

KIEV, Dec. 22 – President Viktor Yushchenko has sharply criticized Prime Minister Yulia Tymoshenko's natural gas policy in interviews with European newspapers, saying her government has been treating financial problems of Naftogaz Ukrayiny irresponsibly.

KIEV, Dec. 22 – Regions Party MP Rinat Akhmetov, owner of Donetsk-based System Capital Management , Ukraine's largest private company, believes that the Ukrainian authorities should invite experts and consultants and make use take advantage of their advice to overcome the economic crisis in Ukraine as soon as possible.

KIEV, Dec. 22 - Dmytro Firtash, the owner of Nadra Bank, will file a suit with a British court against Prime Minister Yulia Tymoshenko, a news anchor on Inter TV channel said before the businessman's interview was broadcast.

"No official in this country has ever answered for his deeds in the last 16 years. I want this to be a showcase and a clear answer to everyone," Firtash said.

KIEV, Dec. 22 – Prime Minister Yulia Tymoshenko said Monday her government will submit to Parliament a draft 2009 budget that contains a 2% deficit, rejecting calls for President Viktor Yushchenko for a deficit-free budget.

KIEV, Dec. 22 – The National Bank of Ukraine on Monday purchased $130 million on the forex market, a move to prop up the hyryvnia and a sign of the extent to which the supply of hard currency has been exceeding demand.