Ukraine, EBRD discuss funding additional gas imports amid rising Russian strikes on energy sector
Ukraine's finance minister met with Matteo Patrone, vice president of the European Bank for Reconstruction and Development, on Oct. 8 to discuss financial support for Ukraine's energy system, as Russian attacks on its energy infrastructure surge ahead of winter.
Last week, on Oct. 3, Russia launched mass missile and drone strikes at gas production facilities in Ukraine's Kharkiv and Poltava oblasts.
State-owned oil and gas giant Naftogaz called the attack the "most massive" to date against its gas production since the start of the full-scale war, saying Russia had launched 35 missiles and 60 drones at its facilities. Ukraine's largest private energy company, DTEK, said it was forced to halt production at its Poltava Oblast gas facilities following the attack.
Just two days later, Russia carried out another large-scale attack on gas infrastructure critical to residential heating, causing significant damage and destruction, according to Naftogaz.
As a result of the strikes, Energy Minister Svitlana Hrynchuk announced on Oct. 7 that Ukraine plans to increase natural gas imports by 30%.
Representatives of the Ukrainian government and the EBRD discussed ongoing and future projects in both the public and private sectors, Ukraine’s 2026 budgetary needs, and funding priorities, including support for the country’s energy system.
"We discussed with the EBRD the possibility of securing additional financing for gas purchases to ensure the stable passage of the 2025–2026 heating season," Ukraine's Finance Minister Serhii Marchenko said.
"This is an urgent priority in light of Russia’s intensified attacks on Naftogaz facilities and Ukraine’s energy infrastructure as a whole," the minister added.
The parties also explored options for covering gas procurement needs with the involvement of other donors, as well as the potential to attract funding backed by EU guarantees.
Between 2022 and 2025, the EBRD has provided nearly 1 billion euros ($1.2 billion) for emergency gas purchases covering the 2022–2026 heating seasons, according to the ministry’s statement.
Since the start of Russia’s full-scale invasion, the EBRD has invested over 8 billion euros ($9.3 billion) in projects aimed at restoring Ukraine’s critical infrastructure.
Over the past month, Russian forces have targeted energy infrastructure across Ukraine, with a recent strike on Chernihiv triggering rolling blackouts.
Bloomberg reported on Sept. 20, citing sources close to the Kremlin, that Russian President Vladimir Putin intends to continue targeting Ukraine's energy network this winter as part of a broader escalation meant to pressure Kyiv into peace talks.
