Politics & Economics

Due to price restrictions and administrative interventions, the Ukrainian electricity market does not stimulate investment in the development of any generation. Volodymyr Omelchenko, Director of Energy and Infrastructure Programs at the Razumkov Center, said this in a commentary for Ukrinform. “The model of our electricity market does not stimulate investment in distribution generation (or in any generation at all), and without investment, no state budget can cope with such a load, let alone ours. The model is limited by various price caps (a price cap is the highest or lowest price of electricity set by the National Energy and Utilities…

Ukraine has already commissioned 100 MW of gas generation, with a further 200 MW expected to be connected by the end of 2024. Volodymyr Omelchenko, Director of Energy and Infrastructure Programs at Razumkov Center, said this in a commentary for Ukrinform. “The process is underway. About 100 MW have been built and put into operation, with an additional 200 MW to be added by the end of the year. In 2025, 1 GW is expected to be commissioned by the next heating season,” the expert said. Additionally, he highlighted the necessity for the safeguarding of energy facilities, underscoring the contributions…

Minister for Foreign Affairs Andrii Sybiha called for Ukraine to be invited to the G20 summit in Rio de Janeiro on November 19. This was announced by the Ministry of Foreign Affairs of Ukraine following the G20 ministerial meeting in New York, Ukrinform reports. He emphasized that November 19 is a symbolic day, marking 1,000 days since Russia launched its full-scale aggression against Ukraine. “We believe that it will be most appropriate if the topic of Russian aggression against Ukraine is presented at the G20 summit in Rio de Janeiro, and the President of Ukraine could take part in it.…

The Bundestag Budget Committee approved on Wednesday, September 25, an assistance package for Ukraine in the amount of 70 million intended to support the nation’s heat and electricity supply sector. This is reported by Ukrinform with reference to DW. The Federal Ministry of Economic Cooperation and Development explained that the money would be utilized to provide Ukrainian cities and communities with small thermal power plants, boilers, generators, and solar panels. This is aimed to contribute to create a decentralized energy supply using small thermal power plants or solar systems. Read also: Germany will remain Europe's leader in providing aid to…

Oleksiy Chernyshov, Chairman of the Board of NJSC Naftogaz of Ukraine, discussed possible financing of sustainable energy projects with Jean-Erik de Zagon, Head of the European Investment Bank (EIB) Regional Hub for Eastern Europe, and his successor, Kristina Mikulova. That’s according to Naftogaz Group, Ukrinform reports. The meeting took place in Kyiv on September 25, 2024. “We highly appreciate the support we have received from the EIB during the full-scale invasion. In particular, the provision of a technical assistance grant to develop a decarbonization strategy,” said Chernyshov. Read also: Naftogaz Group increases profit almost fourfold in H1 2024 He emphasized…

Vladimir Putin’s move to expand the existing conditions for Russia's use of nuclear weapons is aims to discourage the West from allowing Ukraine to use Western-donated weapons to hit military targets in Russia. That’s according to a report by the U.S.-based Institute for the Study of War (ISW) think tank, seen by Ukrinform. "Russian President Vladimir Putin continues to threaten the possibility of a nuclear confrontation between Russia and the West in order to exert further control over Western decision-making and discourage the West from allowing Ukraine to use Western-provided weapons to strike military objects in Russia.," analysts believe. Read…

The United States is deeply concerned by the latest report of Russia’s secret project to manufacture war drones in China, which may be a case of a Chinese company providing lethal aid to a sanctioned Russian company. This was reported by Reuters with reference to the spokesperson for the White House National Security Council, Ukrinform saw. The U.S. has not seen anything so far to suggest that the Chinese authorities were aware of these transactions or that there has been any government involvement in providing lethal assistance to Russia, said the spokesperson. Read also: Ukraine downs four Russian missiles, 66…

In January-June 2024, Naftogaz Group earned a consolidated net profit of UAH 24.4 billion, nearly four times more than in the first half of 2023.   Oleksiy Chernyshov, Chairman of the Board of Naftogaz of Ukraine, said this in a post on Facebook, Ukrinform reports. "The consolidated net profit of Naftogaz Group in the first half of this year amounted to UAH 24.4 billion, almost four times higher than in the same period of the previous year,” Chernyshov wrote. According to him, such results were achieved primarily due to an increase in revenues from the sale of gas, oil and…

South Korean Foreign Minister Cho Tae-yul, who spoke at the UN Security Council’s open debate Russia is using its veto power as a permanent member of the UNSC to destroy the international non-proliferation regime. That’s according to Yonhap, Ukrinform reports. "Adding to the frustration is the fact that the Russian Federation obtains arms and munitions from North Korea in flagrant violation of multiple council resolutions, while using its veto power to undermine the international non-proliferation regime," Cho said. The top diplomat was referring to Moscow's March veto of a UNSC resolution on what had been a routine annual extension of…

Ukrainian President Volodymyr Zelensky has said that the Joint Declaration of Support for the Recovery and Reconstruction of Ukraine, adopted by the G7+ countries, is an obligation to help the country recover from the war and support its efforts towards European integration. The head of state said this at the G7+ Ukraine meeting in New York, according to an Ukrinform correspondent. "Now, more than 30 countries and the EU have agreed to the declaration, truly strong declaration focused on rebuilding Ukraine after the hostilities," he said, thanking the leaders for such a step. We must not leave behind ruins that…