Over this period, Ukraine received $1.075bn in investments from the United States, $779.2m – from Cyprus and $686.1m – from the UK. As for UK and Cypriot investments, experts say most of them is Russian and Ukrainian capital going through Cypriot and British offshore centers.

Last year, Ukraine received $1.186bn in direct foreign investments, or $140 per person, up from $111 as of January 1, 2003. In 2003, foreign companies invested $1.32bn in Ukraine’s corporate sector, while they withdrew about $340m. Total investments in Ukraine increased by more than $200m due to exchange rate differences and a rise in direct investments. Ukraine has received a total of $6.658bn in investments since 1991.

Of foreign direct investments in Ukraine, 15 percent was invested in trade companies, 14.8 percent – in the food industry, 9 percent – in mechanical engineering and 7.9 percent – in transport and communications.