The Jackson-Viehl Amendment for Russia and bail for Vladislava Molchanova – Business Week

New gambling licenses, the case of Vladislav Molchanov through the Stolychny market, money from the USA, and freedom of speech on Turkish TV channels. Read the news about these topics and much more in the new business review from LIGA.net

New licenses for gambling

The Cabinet of Ministers adopted a resolution on licensing conditions in the gambling industry, allowing PlayCity to begin issuing new licenses to gambling organizers. The licensing conditions define the procedure and a complete list of documents required to obtain licenses, as well as mandatory requirements for conducting business in the industry. This was reported by the press service of the Ministry of Digital Transformation.

As a result, this will generate almost 50 million UAH in additional revenue to the state budget from license fees in the near future, the agency assures.

To obtain a license, an impeccable business reputation, the absence of ties with the aggressor state, and the implementation of all necessary responsible gaming mechanisms are mandatory.

Vladislava Molchanova was assigned a bail of 100 million hryvnias.

On Thursday, September 11, the High Anti-Corruption Court chose a preventive measure for the founder of Stolitsa Group, Vladislava Molchanova, in the form of bail in the amount of 100 million hryvnias.

"Apply to the suspect Molchanova Vladislava Borisivna a preventive measure in the form of bail in the amount of 100 million hryvnias," Judge Andriy Bitsyuk announced his decision during the hearing, which was broadcast on the court's YouTube channel.

The case against Molchanova concerns the land of the "Stolichny" agricultural market, located on the outskirts of Kyiv near the "Teresmky" metro station.

The investigation believes that in 2021, in the process of settling a corporate conflict with former pro-Russian MP Yuriy Ivanyushchenko, companies associated with Molchanova gained control over 18 hectares of land that had been leased for the operation of the market.

EU allocates 40 million euros to Ukraine for winter preparations.

The European Commission has announced an additional €40 million in humanitarian aid to help Ukrainians survive their fourth winter of full-scale war. The new financial support is aimed at strengthening the country's preparedness for the winter period and protecting the civilian population from extreme cold, according to a statement on the European Commission's website.

The funds will be directed to EU humanitarian partners who will provide materials for repairing damaged houses and centers for displaced persons, improve access to water, sanitation, and heating. The aid will also include cash assistance, solid fuel, heaters, thermal insulation, and the establishment of emergency heating points. Particular attention will be paid to vulnerable groups: the elderly, children, people with disabilities, and families living in temporary collective centers.

Ukraine needs to find another $20 billion by 2027.

The International Monetary Fund (IMF) estimates that Ukraine's external financing needs during 2026-2027 may exceed the government's previous estimates by $10-20 billion. This is according to Bloomberg, citing sources familiar with the matter.

According to the agency's sources, the Cabinet of Ministers and the Ministry of Finance of Ukraine insist that about $37.5 billion is needed for two years, while the IMF believes that this amount will be significantly larger, given the increase in military spending and other budget needs.

The final figures are expected to be agreed upon next week. After that, Ukraine and the IMF will approach their allies to discuss ways to secure additional funding.

Metinvest sells loss-making coal assets in the USA

Metinvest Group announced its intention to sell the American coal company United Coal due to declining profitability, difficult market conditions, and depletion of reserves. This is stated in its report for the first half of the year, in which it incurred a loss of $58 million.

Metinvest acquired United Coal in April 2009.

"The American coking coal mining asset, United Coal, played a key role in our operations. Our American colleagues resumed coal supplies to Ukraine in the same way as before the invasion. However, for some time, United Coal has been demonstrating low operational and financial results. Given the current situation, we have decided to divest this asset," said Yuriy Ryzhenkov, CEO of Metinvest.

The US Congress has approved a $900 billion defense budget, including $400 million in aid to Ukraine.

The US Congress has approved the defense budget for fiscal year 2026, which begins on October 1. The total spending will amount to approximately $900 billion, reports The New York Times.

The document was supported by 231 lawmakers, while 196 voted against it. 17 lawmakers from the Democratic Party of the United States, which currently holds a minority in the House of Representatives, supported the bill, and only four Republicans (the majority faction) voted against it.

The document allocates $400 million in military aid to Ukraine under the Ukraine Security Assistance Initiative (USAI). This mechanism involves contracts between the Pentagon and arms manufacturers, rather than transferring equipment from US stockpiles.

The law requires the Pentagon to report to Congress if it intends to cancel or suspend already approved aid to Ukraine.

Ukraine has received the eighth tranche from the European Union, secured by revenues from Russian assets.

On Wednesday, September 10, Ukraine received the eighth tranche from the European Union as part of the G7 Extraordinary Revenue Acceleration for Ukraine (ERA) initiative. The amount is €1 billion, the Ministry of Finance announced.

"This is more than just aid – it's a clear signal: Europe is resolutely strengthening Ukraine's defense and resilience in the face of massive missile attacks and attempts at destabilization," commented Prime Minister Yulia Svyrydenko on the new tranche.

The funds received will allow for the financing of priority budget expenditures, such as social benefits, the restoration of critical infrastructure, and support for the economy.

The ERA mechanism provides for the allocation of $50 billion to Ukraine, secured by revenues from frozen Russian assets. The EU contribution amounts to €18.1 billion, of which €10 billion has already been transferred to the state budget.

US Congressman introduces bill to reinstate the Jackson-Viehl Amendment regarding Russia.

Following the Russian drone attack on Poland, US Republican Congressman Joe Wilson introduced a bill to the US Congress to reinstate the Jackson-Vanik Amendment against Russia. He announced this on the social media platform X (Twitter).

Thus, the reinstatement of the Jackson-Viehl amendment means a complete cessation of trade with Russia, which Wilson called a "terrorist dictatorship."

The politician recalled that the law was repealed on the initiative of Barack Obama and John Kerry as part of the so-called reset of relations with Russia.

According to Wilson, this move was "wrong" and "reckless" and actually encouraged Russian dictator Vladimir Putin to occupy Crimea.

Britain will start producing interceptor drones for Ukraine.

The UK Ministry of Defence has announced its intention to sign an agreement with Ukraine to exchange technological know-how in the field of military drone production. British companies are expected to produce them in the thousands.

"The first joint project will be presented at the DSEI defense exhibition in London on Thursday. It's a new high-tech air defense interceptor drone called Project Octopus. It is planned to be mass-produced in the UK with the aim of producing thousands per month for Ukraine to support its fight for freedom against Putin's illegal full-scale invasion," – reads a statement on the ministry's website.

The new interceptor was designed by Ukrainians with the support of British scientists and technicians, and it has already proven its effectiveness on the battlefield.

It successfully counteracts the Shahed strike drone variants used by Russia and costs less than 10% of the value of the drones it intercepts, according to the statement.

In Turkey, a conglomerate with three major television channels has been taken under state control.

A Turkish court has seized the assets of Can Holding, a large conglomerate with over 120 companies that has owned three prominent television channels (Habertürk TV, Show TV, Bloomberg HT) since last year. Ten of its executives have also been detained on suspicion of money laundering, fraud, and tax evasion. This was reported on the website of the Deposit Insurance Fund (TMSF), which has been appointed as the temporary administrator of the companies.

Habertürk TV is one of Turkey's leading news channels, while Show TV is one of the largest entertainment channels; Bloomberg HT is the main Turkish-language channel specializing in business and economics.

The holding also includes Istanbul Bilgi University, one of the most prestigious higher education institutions in Turkey, and the Doğa Koleji school network.

According to the investigation, hundreds of millions of Turkish lira were laundered through the holding's companies, and some of the operations were financed with "criminal proceeds."