Energy

EU, Germany boost Ukraine's energy efficiency fund with 18 million euros

The EU provided 13 million euros ($15 million) of the new funding, while Germany's International Climate Initiative (IKI) provided 5 million euros ($5.7 million).

Key to Russia’s defeat lies in its economy

As the war in Ukraine grinds on, attention remains fixed on the battlefield. But Russia’s most vulnerable flank is not in the trenches — it’s in the treasury. The West, and especially the United States, holds economic levers that could push Vladimir Putin toward serious negotiations or even collapse

Ukrainian attack causes blackouts in Russian-occupied territories, Moscow's proxies claim

Yevhen Balytskyi, the Kremlin-appointed head of the occupied part of Zaporizhzhia Oblast, claimed that 457 settlements in the region were left without power, affecting more than 600,000 homes.

DTEK to build one of Europe's largest energy storage facilities, company announces

Ukraine's largest private energy company DTEK secured a $72-million loan to build one of the largest battery energy storage complexes in Eastern Europe, the company said on June 3.

Russia's budget deficit triples amid sanctions and low oil prices, Ukrainian official says

Ukrainian commissioner for sanctions policy Vladyslav Vlasiuk said international sanctions remain a key driver behind the decline in Russia's energy revenues.

Fire breaks out at thermal power plant in Kyiv Oblast, 2 dead

Rescuers continue to work at the scene, while the consequences of the accident are still being determined.

US, Russia discuss potential revival of Russian gas exports to Europe, Reuters reports

Washington’s involvement may also help mitigate political opposition in Europe, while giving the U.S. strategic visibility over future Russian energy flows, sources told Reuters.

Putin, Xi to discuss delayed 'Power of Siberia 2' pipeline during Victory Day celebrations, Bloomberg reports

Construction of the pipeline was scheduled to begin in 2024, but has been plagued with construction issues and diplomatic tussles.

After 3 years of full-scale war in Ukraine, Europe announces plan to ban all Russian gas imports

BRUSSELS — After years of reducing its reliance on Russian gas, the European Union is moving to turn off the taps completely within the next two years. The European Commission (EC) on May 6 presented a detailed roadmap to fully sever the European Union’s energy dependence on Russia by 2027.

Naftogaz profits grow 64% in 2024 despite Russian attacks on energy infrastructure

Naftogaz Group, Ukraine's state-owned oil and gas giant, reported a net profit of Hr 38 billion ($913 million) for 2024, marking a 64% increase from the previous year, the company announced on May 1.

Ukraine Business Roundup — How Russia steals Ukrainian coal

The following is the April 29, 2025 edition of our Ukraine Business Roundup weekly newsletter. To get the biggest news in business and tech from Ukraine directly in your inbox, subscribe here. The following is an excerpt from our latest investigation by investigative reporter Alisa Yurchenko. On March 29, the

Ukraine Reforms Tracker Weekly — Issue 23

Editor’s note: This is issue 23 of Ukrainian lawmaker Yaroslav Zhelezniak’s weekly "Ukraine Reforms Tracker" covering events from April 21–27, 2025. The digest highlights steps taken in the Ukrainian parliament related to business, economics, and international financial programs. The Kyiv Independent is republishing with permission. Benchmarks and

Rubio, Witkoff reportedly clash over easing Russia sanctions; Trump admin denies

Special Envoy Steve Witkoff, who is set to meet Russian President Vladimir Putin in Moscow for their fourth meeting on April 25, has reportedly promoted the idea. It has "not found much traction in the White House," and U.S. Secretary of State Marco Rubio has opposed it, Politico reported.

‘There was no ceasefire’ — US-brokered energy truce fails to secure lasting results in Ukraine

China's Russian coal imports increase slightly after long decline

Russia’s coal exports to China were reported to have dropped by almost 7% in 2024 compared to 2023.

Czechia independent of Russian oil for first time in history

Prague cast off its dependence on Russia's Druzhba oil pipeline for the first time in over 60 years, securing alternative supplies thanks to the expansion of the western Transalpine Pipeline (TAL).

Ukraine seeks US support in regaining control of Zaporizhzhia nuclear plant, joint energy projects

"We have a common interest with the United States to bring Zaporizhzhia NPP under Ukrainian control and start the operation of this nuclear power plant," Energy Minister Herman Halushchenko said.

Russia has violated ‘energy ceasefire’ more than 30 times, Ukraine says

Russia has violated a partial ceasefire covering energy infrastructure more than 30 times since it was agreed in March, targeting critical infrastructure across Ukraine, a Ukrainian Foreign Ministry spokesperson said on April 16.

Italy transfers $28 million to restore Ukraine's energy infrastructure

The funds are part of a broader 200 million euros (around $227 million) initiative co-financed by the European Bank for Reconstruction and Development (EBRD).

Bulgaria backpedals on nuclear reactor sale to Ukraine

Bulgaria's deputy prime minister and chairman of the co-ruling Bulgarian Socialist Party (BSP), Atanas Zafirov, announced the news, arguing that Sofia needs to develop its nuclear energy capacities.

Explosion rocks thermal plant in Russia

A fire broke out at a substation in the morning after an explosion occurred at a thermal power plant in the Russian city of Orenburg, leaving many local residents without power.

Ukraine informs US about Russia's energy ceasefire violations, Ukrainian official says

Presidential Office Deputy Head Pavlo Palisa clarified that Ukraine had not provided Washington with a list of specific infrastructure targets that would constitute a ceasefire breach if attacked by Russia.

Vance suggests energy ceasefire in effect while Ukraine accuses Russia of violations

"We've obviously got this energy infrastructure ceasefire. We've got a Black Sea commercial ceasefire that I think is almost done," U.S. Vice President JD Vance told reporters during a visit to Greenland.

Ukraine, Russia haven't attacked energy facilities since March 25 ceasefire, Foreign Ministry confirms

"I can confirm that since this date, March 25... There have been no attacks on energy objects. Neither Russian attacks on our energy objects, or our attacks on Russian energy objects," Foreign Ministry spokesperson Heorhii Tykhyi told the Kyiv Independent at a press briefing.

As Ukraine-Russia ceasefire progress inches forward, here’s where things stand

After three days of separate intensive discussions with the United States, Russia and Ukraine left the latest round of ceasefire talks in Saudi Arabia with agreements to declare a limited ceasefire in the Black Sea and to halt strikes against energy facilities. While lauded by the White House as progress

Ukraine Business Roundup — More wartime M&A deals

The following is the March 25, 2025 edition of our Ukraine Business Roundup weekly newsletter. To get the biggest news in business and tech from Ukraine directly in your inbox, subscribe here. Ukraine’s largest telecom operator, Kyivstar, signed an agreement to acquire Uklon, a leading ride-hailing and delivery platform

Russia has struck Ukraine's energy sites 8 times since March 18, Zelensky's advisor says

Ukraine has recorded eight confirmed hits against its energy facilities by Russian forces since March 18, when the Kremlin claimed to have ordered a pause on such attacks, presidential advisor Dmytro Lytvyn said on March 25.

Netherlands allocates over $70 million towards Ukrainian energy security

"A stable energy supply is a condition for the functioning of the economy, critical infrastructure, social and other spheres of life in Ukraine," Deputy Energy Minister Roman Andarak said on March 22.

Ukraine Reforms Tracker Weekly — Issue 18

Editor’s note: This is issue 18 of Ukrainian lawmaker Yaroslav Zhelezniak’s weekly "Ukraine Reforms Tracker" covering events from March 10–16, 2025. The digest highlights steps taken in the Ukrainian parliament related to business, economics, and international financial programs. The Kyiv Independent is republishing with permission. Benchmarks and

Canada contributes additional $35 million toward restoring energy infrastructure in Ukraine

"As Russia continues its ruthless attacks on Ukrainian infrastructure, leaving millions without electricity, water, and heat, Canada is proud... to continue the important work it is doing to help Ukraine repair its critical infrastructure," Canadian Foreign Minister Melanie Joly said in a statement.

‘Painful for Russia:’ What new U.S. sanctions on Russian energy mean for Moscow

The Trump administration dealt a blow to Russia's energy sector last week after it let lapse an exemption allowing Russian banks to use U.S. payment systems for energy transactions. The move closed an important financial channel for Russian oil and gas exports and comes as Washington looks for ways

US toughens sanctions on Russian energy payments

The Trump administration toughened sanctions on Russia's oil and gas industry on March 13 by not renewing an exemption that allows Russian banks to access U.S. payment systems to conduct energy transactions.