ECB raises rates, Ukraine updates EU plan, and US becomes top oil exporter

The European Central Bank increased its key interest rate by 0.25 percentage points to 2.25% on June 11, marking its first hike since September 2023, in response to an energy shock. Concurrently, Ukraine's Cabinet of Ministers approved an updated Ukraine Facility plan, introducing 26 new steps primarily focused on European Union integration to secure an additional €8.35 billion in EU support. In related news, the Ukrainian government is launching a new program from July 1, offering preferential loans at 0.1% for small and medium-sized businesses to restore property damaged by shelling, with a maximum financing of 150 million UAH. These developments occur as the United States has become the world's largest oil exporter, surpassing Saudi Arabia and Russia, indicating a notable shift in the global energy market.

Sources: Forbes Ukraine