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.
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
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.
Russia’s coal exports to China were reported to have dropped by almost 7% in 2024 compared to 2023.
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).
"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 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.
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'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.
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.
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.
"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.
"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.
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
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
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.
"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.
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
"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.
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
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.
Iceland will allocate over 2 million euros ($2.17 million) to Ukraine's Energy Support Fund, the Ministry of Energy reported on March 11.
Oil and gas revenues last month amounted to 771.3 billion rubles ($8.6 billion), a significant drop from 945.6 billion rubles ($10.5 billion) in February 2024 and a moderate decrease in comparison to 789.1 billion rubles ($8.8 billion) in January.
Ukraine plans to import about 3.5 billion cubic meters of gas for the upcoming heating season due to ongoing Russian attacks on its energy infrastructure, Bloomberg reported on March 4.
Key developments on Feb. 28: * Zelensky, Trump get into heated argument while speaking with journalists in Oval Office * US terminates support for Ukraine's energy grid restoration, NBC reports * Trump may halt all military aid to Ukraine following Oval Office clash, WP reports * Kremlin officials tout Zelensky-Trump clash as 'historic' * Italy
Within weeks of U.S. President Donald Trump saying he wanted to do a deal with Kyiv on its “rare earths and other things,” it became clear the U.S. wasn’t just interested in Ukraine’s critical minerals and rare earth elements. U.S. Treasury Secretary Scott Bessent visited
"The purpose of these criminal attacks is to stop the production of gas needed to meet the household needs of citizens and centralized heating," Energy Minister Herman Halushchenko said.
The Russian government has allowed several companies to abandon the modernization of over a dozen power plants across the country, the Russian news agency Interfax reported.
Editor’s note: This is issue 13 of Ukrainian lawmaker Yaroslav Zhelezniak’s weekly "Ukraine Reforms Tracker" covering events from Feb. 3–Feb. 9, 2025. This newsletter was until recently titled “Ukrainian Economy in Brief." The digest highlights steps taken in the Ukrainian parliament related to business, economics, and international
Ukraine's parliament voted in favor of buying two Russian-made reactors from Bulgaria for the Khmelnytskyi Nuclear Power Plant, lawmaker Yaroslav Zhelezniak said on Feb. 11.
The European Union and NATO must strengthen cooperation to protect critical energy infrastructure from attacks, which pose a growing threat to European stability. The Kremlin, with its history of weaponizing energy, remains a prime suspect. NATO must properly secure the Baltic Sea — the so-called NATO lake. The Baltic states achieved
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