News

Ukraine has significant oil potential, including shale oil. Opening access for private companies to develop new fields could transform the energy sector.<img src="https://ksf-openukraine.s3.eu-central-1.amazonaws.com/0x0_5_574d3fe92e.jpg" alt="0x0 (5).jpg" srcset="https://ksf-openukraine.s3.eu-central-1.amazonaws.com/thumbnail_0x0_5_574d3fe92e.jpg 226w,https://ksf-openukraine.s3.eu-central-1.amazonaws.com/small_0x0_5_574d3fe92e.jpg 500w,https://ksf-openukraine.s3.eu-central-1.amazonaws.com/medium_0x0_5_574d3fe92e.jpg 750w,https://ksf-openukraine.s3.eu-central-1.amazonaws.com/large_0x0_5_574d3fe92e.jpg 1000w," sizes="100vw" width="1000px">Andriy Kobolyev, former Chairman of the Board of NJSC Naftogaz of Ukraine (2summarizedand founder of the investment company Eney, made this statement during the extraordinary session of the Kyiv Security Forum (KSF) on the situation in Ukraine's energy sector and economy, organized by Arseniy Yatsenyuk "Open Ukraine" Foundation."Western Ukraine has large deposits, but without modern technologies and partnership with private companies, we will not be able to develop them effectively. If we open the market now, grant licenses to private players and create conditions for investment, it will be a breakthrough for the entire energy system," the former Naftogaz executive mentioned."Becoming business partners with the United States makes it much easier to discuss Patriots, Tomahawks, and other military assistance because we are getting closer," he summarizeday, 'Look, under Donald Trump, the American revolution has come to Ukraine,' it would be of great value to him and would strengthen our strategic alliance," Kobolyev explained.He believes that such a scenario would strengthen Ukraine's energy security and simplify future defense support."Becoming business partners with the United States makes it much easier to discuss Patriots, Tomahawks, and other military assistance because we are getting closer," he summarized.

Ukraine has significant oil potential, including shale oil. Opening access for private companies to develop new fields could transform the energy sector.

Entry of US companies into shale oil production can strengthen Ukraine's energy and political security – Andriy Kobolyev

Intense Russian attacks this year have caused Ukraine to lose a significant portion of its gas production. In response, the Government quickly developed a step-by-step program to boost imports and secure additional funding.<img src="https://ksf-openukraine.s3.eu-central-1.amazonaws.com/0x0_2_c442131e01.jpg" alt="0x0 (2).jpg" srcset="https://ksf-openukraine.s3.eu-central-1.amazonaws.com/thumbnail_0x0_2_c442131e01.jpg 234w,https://ksf-openukraine.s3.eu-central-1.amazonaws.com/small_0x0_2_c442131e01.jpg 500w,https://ksf-openukraine.s3.eu-central-1.amazonaws.com/medium_0x0_2_c442131e01.jpg 750w,https://ksf-openukraine.s3.eu-central-1.amazonaws.com/large_0x0_2_c442131e01.jpg 1000w," sizes="100vw" width="1000px">Nataliya Boyko, Deputy Chairwoman of the Supervisory Board of NJSC Naftogaz of Ukraine and Head of the Center of Excellence in Government Relations (GR Center), spoke about the situation in Ukraine's energy sector and economy during the extraordinary session of the Kyiv Security Forum (KSF), organized by Arseniy Yatsenyuk "Open Ukraine" Foundation."We have met our planned production targets, but due to targeted attacks, we have lost large volumes of our own gas. As a result, a program to increase imports has been developed. A new agreement has already been signed for the American liquified natural gas (LNG) supply, and the Government has allocated 8.4 billion hryvnias for the purchase of imported gas volumes," Nataliya Boyko mentioned.&nbsp;According to her, the situation in the gas market is not critical, thanks in large part to the coordinated efforts of the Government, Naftogaz, and international partners. At the same time, the official emphasized that the restoration of Ukrainian gas production continues despite the unprecedented intensity of attacks, which have escalated again since the beginning of October."Our specialists are working around the clock, without exaggeration. They have restored almost all the capacities lost after the previous winter. This is incredible work. However, the current attacks are destroying expensive equipment that must be ordered individually. Despite this, the Ukrgazvydobuvannya and Ukrtransgaz teams are working efficiently and are even ahead of schedule," she emphasized.In conclusion, Nataliya Boyko noted that the key goal is not only to restore capacity but also to develop Ukrainian gas production and attract private investors. "I want us to compete not over restoration deadlines, but over development – over normal conditions for Ukrainian gas production and the emergence of private players in this market," she concluded.

Intense Russian attacks this year have caused Ukraine to lose a significant portion of its gas production. In response, the Government quickly developed a step-by-step program to boost imports and secure additional funding.

Nataliya Boyko: Ukraine Maintains Gas Sector Stability Despite Intensified Attacks

Ukrainian cities and regions need to develop and implement action plans to respond to various emergencies that may arise as a result of Russian attacks on energy infrastructure.<img src="https://ksf-openukraine.s3.eu-central-1.amazonaws.com/0x0_4_8a4592044d.jpg" alt="0x0 (4).jpg" srcset="https://ksf-openukraine.s3.eu-central-1.amazonaws.com/thumbnail_0x0_4_8a4592044d.jpg 225w,https://ksf-openukraine.s3.eu-central-1.amazonaws.com/small_0x0_4_8a4592044d.jpg 500w,https://ksf-openukraine.s3.eu-central-1.amazonaws.com/medium_0x0_4_8a4592044d.jpg 750w,https://ksf-openukraine.s3.eu-central-1.amazonaws.com/large_0x0_4_8a4592044d.jpg 1000w," sizes="100vw" width="1000px">Volodymyr Groysman, former Prime Minister of Ukraine (2016–2019), spoke during an extraordinary session on the situation in Ukraine's energy sector and economy of the Kyiv Security Forum, organized by Arseniy Yatsenyuk "Open Ukraine" Foundation."Communities must develop joint plans to respond to power, gas, and water outages. These plans must be long-term. Every city and region should have a clear action plan for such circumstances, outlining how to ensure essential services for both high-rise buildings and the private sector.&nbsp;How to ensure the basic functioning of infrastructure, including transportation. Training must be conducted so that everyone knows how to act in any situation. These may seem like ordinary things, but they are important and must be fully implemented in every community," he said.&nbsp; At the same time, Volodyyr Groysman expressed confidence that Ukraine "will survive this winter, no matter how hard the enemy tries to destroy us.""Ukraine is currently facing unprecedented attacks. This is not just a war – it is outright terror. The enemy's goal is to destroy our country and our nation... Everything our military is doing today to repel these attacks is extraordinary. All the actions of our army deserve immense respect and gratitude," he mentioned.Volodymyr Groysman also drew attention to the tremendous efforts of energy workers in restoring facilities after Russian attacks."No one has ever done this before – no one has restored the power grid under constant bombardment, no one has rebuilt the system after such destruction," the former Prime Minister noted.

Ukrainian cities and regions need to develop and implement action plans to respond to various emergencies that may arise as a result of Russian attacks on energy infrastructure.

Volodymyr Groysman: Every Community to Develop Joint Plans to Respond to Power, Gas, and Water Outages

Ukraine needs to change its approach to energy resources, as many Ukrainians still view electricity, gas, and heat as something that should "exist by default" – preferably for free.Nataliya Boyko, Deputy Chairwoman of the Supervisory Board of NJSC Naftogaz of Ukraine and Head of the Center of Excellence in Government Relations (GR Center), spoke about the situation in Ukraine's energy sector and economy during the extraordinary session of the Kyiv Security Forum (KSF), organized by Arseniy Yatsenyuk "Open Ukraine" Foundation.<img src="https://ksf-openukraine.s3.eu-central-1.amazonaws.com/0x0_6_9c9949e495.jpg" alt="0x0 (6).jpg" srcset="https://ksf-openukraine.s3.eu-central-1.amazonaws.com/thumbnail_0x0_6_9c9949e495.jpg 234w,https://ksf-openukraine.s3.eu-central-1.amazonaws.com/small_0x0_6_9c9949e495.jpg 500w,https://ksf-openukraine.s3.eu-central-1.amazonaws.com/medium_0x0_6_9c9949e495.jpg 750w,https://ksf-openukraine.s3.eu-central-1.amazonaws.com/large_0x0_6_9c9949e495.jpg 1000w," sizes="100vw" width="1000px">"It really bothers me when people talk about launching the heating season immediately just because they want to wear T-shirts at home. It's hard to reconcile morally when you hear morning reports about destroyed buildings and injured colleagues, and then hear that someone simply 'doesn’t want to freeze' in October, when it is still warm outside," Nataliya Boyko noted.She emphasized that energy resources are not unlimited and that Ukrainians should develop a new culture of prudent energy consumption: "I have lived and worked in Germany, Great Britain, and Austria, and nowhere have I seen such an irresponsible attitude toward energy as we have here. Respect for resources must become a new social value – even a kind of 'religion'."She paid particular attention to the role of local communities: "The stronger the community, the more actively citizens take responsibility – from cleaning the streets to organizing heat supply. We need a more engaged society, where everyone is not just a consumer but also an active participant in a shared cause."In conclusion, Nataliya Boyko noted that power outage schedules are manageable if people prepare for them and learn to adapt."I hope we will get through this season without prolonged blackouts. But even under the most difficult conditions, a conscious approach to energy resources will help us endure," she commented.

Ukraine needs to change its approach to energy resources, as many Ukrainians still view electricity, gas, and heat as something that should "exist by default" – preferably for free.Nataliya Boyko, Deputy Chairwoman of the Supervisory Board of NJSC Naftogaz of Ukraine and Head of the Center of Excellence in Government Relations (GR Center), spoke about the situation in Ukraine's energy sector and economy during the extraordinary session of the Kyiv Security Forum (KSF), organized by Arseniy Yatsenyuk "Open Ukraine" Foundation.

Nataliya Boyko: Conscious Consumption Should Become Our New 'Religion'

Ukraine should enhance incentives for energy production and distribution among local communities and ensure they are ready for various situations.Ambassador of the European Union to Ukraine Katarina Mathernova made these remarks during the extraordinary session of the Kyiv Security Forum (KSF) focusing on Ukraine's energy sector and economy, organized by Arseniy Yatsenyuk "Open Ukraine" Foundation.&nbsp;<img src="https://ksf-openukraine.s3.eu-central-1.amazonaws.com/0x0_7_9952556b97.jpg" alt="0x0 (7).jpg" srcset="https://ksf-openukraine.s3.eu-central-1.amazonaws.com/thumbnail_0x0_7_9952556b97.jpg 230w,https://ksf-openukraine.s3.eu-central-1.amazonaws.com/small_0x0_7_9952556b97.jpg 500w,https://ksf-openukraine.s3.eu-central-1.amazonaws.com/medium_0x0_7_9952556b97.jpg 750w,https://ksf-openukraine.s3.eu-central-1.amazonaws.com/large_0x0_7_9952556b97.jpg 1000w," sizes="100vw" width="1000px">This winter is expected to be challenging, and I anticipate difficulties, but I believe everything will be fine," Kateryna Mathernova summarized in this regard. The role of communities and local administrations is also crucial here. It is essential to encourage and stimulate energy production and distribution. Communities must also be prepared for unforeseen situations," she stated.&nbsp;Kateryna Mathernova highlighted the unKateryna Mathernova summarizedattacks on Ukraine's energy infrastructure.&nbsp;"Russia is waging terror against Ukraine's energy system. In this war, Putin will go on until he is stopped. It is impressive that the Ukrainian energy system remains operational despite the numerous attacks. While there arKateryna Mathernova summarizedcities, Ukrainians' resilience and determination are incredible," the diplomat said.&nbsp;She also noted that since russia's full-scale invasion began, the EU has provided approximately EUR 3.2 billion toKateryna Mathernova summarizedor.&nbsp;"The most significant support tool is backing the private sector... there is a clear understanding of the need to support the development of renewable energy sources and to establish a specific EBRD mechanism to mitigate risk for the private sector. We also need to back decentralization and resource allocation. Gas distribution centers require support as well... This winter is expected to be challenging, and I anticipate difficulties, but I believe everything will be fine," Kateryna Mathernova summarized.

Ukraine should enhance incentives for energy production and distribution among local communities and ensure they are ready for various situations.Ambassador of the European Union to Ukraine Katarina Mathernova made these remarks during the extraordinary session of the Kyiv Security Forum (KSF) focusing on Ukraine's energy sector and economy, organized by Arseniy Yatsenyuk "Open Ukraine" Foundation. 

EU Ambassador Mathernova: Ukrainian communities must be fully prepared for the unpredictable

Energy resilience has become the new measure of sovereignty. It is measured not only by megawatts, but also by the ability of the state, citizens, and businesses to maintain resilience under constant threat.<img src="https://ksf-openukraine.s3.eu-central-1.amazonaws.com/0x0_8_bba2b4e063.jpg" alt="0x0 (8).jpg" srcset="https://ksf-openukraine.s3.eu-central-1.amazonaws.com/thumbnail_0x0_8_bba2b4e063.jpg 234w,https://ksf-openukraine.s3.eu-central-1.amazonaws.com/small_0x0_8_bba2b4e063.jpg 500w,https://ksf-openukraine.s3.eu-central-1.amazonaws.com/medium_0x0_8_bba2b4e063.jpg 750w,https://ksf-openukraine.s3.eu-central-1.amazonaws.com/large_0x0_8_bba2b4e063.jpg 1000w," sizes="100vw" width="1000px">Andriy Pyshnyyhe National Bank of Ukraine, spoke during an extraordinary session on the situation in Ukraine's energy sector and economy of the Kyiv Security Forum, organized by Arseniy Yatsenyuk "Open Ukraine" Foundation."Energy resilience today is not just a technical term. It is a condition for the survival not only of individual industries or businesses, but of the entire country. When the enemy targets our thermal power plants, it is attempting to target our resilience. The National Bank takes this reality into account in its decisions," Andriy Pyshnyy noted.He also announced macroeconomic forecasts: real GDP growth is expected to reach 1.9% in 2025 and around 2% in 2026. Inflation is projected at 6.6% for 2025 and 5% by the end of 2027.According to the NBU Governor, success in maintaining financial stability and energy security has been achieved thanks to the unique experience and adaptability of Ukrainian businesses and citizens. As a result, 80% of enterprises are prepared for power outages and have alternative power supplies; electricity imports in October increased 2.5 times compared to September; and banks continue to operate reliably even during blackouts, pooling resources to support customers and critical industries.The head of the National Bank emphasized the role of European integration as a strategic investment in the country's stability, noting that it increases productivity, strengthens the economy, and ensures financial stability through the support of the EU and international partners."Europe is shaped by crises and will reflect the sum of the decisions we make to overcome them. Difficult months lie ahead, but we have three things that keep the country going: people who do not give up, systems that work, and decisions made before the blow, not after it. Energy is not just megawatts – it is faith in life," he concluded.

Energy resilience has become the new measure of sovereignty. It is measured not only by megawatts, but also by the ability of the state, citizens, and businesses to maintain resilience under constant threat.

Andriy Pyshnyy: Ukraine Is Not Just an Example of Endurance — It Is Synonymous with It.

Over the past year and a half, Ukraine has experienced fewer technical and regulatory issues hindering companies' operations. This progress is due to the tax authorities' more selective and targeted approaches, automated systems, and respect for court decisions.&nbsp;Business Ombudsman Roman Vashchuk stated this during the extraordinary session of the Kyiv Security Forum (KSF) on the situation in Ukraine's energy sector and economy, organized by Arseniy Yatsenyuk "Open Ukraine" Foundation.However, he added that there are still issues with the inspection system and law enforcement agencies that have a "desire to open more criminal proceedings".<img src="https://ksf-openukraine.s3.eu-central-1.amazonaws.com/0x0_10_977092de17.jpg" alt="0x0 (10).jpg" srcset="https://ksf-openukraine.s3.eu-central-1.amazonaws.com/thumbnail_0x0_10_977092de17.jpg 234w,https://ksf-openukraine.s3.eu-central-1.amazonaws.com/small_0x0_10_977092de17.jpg 500w,https://ksf-openukraine.s3.eu-central-1.amazonaws.com/medium_0x0_10_977092de17.jpg 750w,https://ksf-openukraine.s3.eu-central-1.amazonaws.com/large_0x0_10_977092de17.jpg 1000w," sizes="100vw" width="1000px">"This legacy of the Soviet system stimulates the wrongful actions of law enforcement officers, despite the moratorium on unjustified inspections," Roman Vashchuk explained. The Business Ombudsman emphasized that in times of war, the state should be more loyal to businesses, and entrepreneurs should be more loyal to the state.We need to address these issues to ensure the proper restoration of critical infrastructure," the Business Ombudsman summarizedgue and guide everyone toward the proper legal framework," Roman Vashchuk said.He drew special attention to the construction sector and state-owned companies, where existing regulations essentially force businesses to underestimate salaries, pay in envelopes, and conceal real funds. This creates risks for businesses and customers while simultaneously fueling corruption schemes."Due to these conditions, two-thirds of the Confederation of Builders members do not want to work with the state. We need to address these issues to ensure the proper restoration of critical infrastructure," the Business Ombudsman summarized.

Over the past year and a half, Ukraine has experienced fewer technical and regulatory issues hindering companies' operations. This progress is due to the tax authorities' more selective and targeted approaches, automated systems, and respect for court decisions. 

Business Ombudsman Vashchuk: The state should be more loyal to businesses in times of war

Every second company representing American business in Ukraine has been affected by russian attacks, yet they continue to operate and even expand.Andy Hunder, President of the American Chamber of Commerce, spoke during an extraordinary session on the situation in Ukraine's energy sector and economy of the Kyiv Security Forum, organized by Arseniy Yatsenyuk "Open Ukraine" Foundation.<img src="https://ksf-openukraine.s3.eu-central-1.amazonaws.com/0x0_11_8b4284c1b8.jpg" alt="0x0 (11).jpg" srcset="https://ksf-openukraine.s3.eu-central-1.amazonaws.com/thumbnail_0x0_11_8b4284c1b8.jpg 234w,https://ksf-openukraine.s3.eu-central-1.amazonaws.com/small_0x0_11_8b4284c1b8.jpg 500w,https://ksf-openukraine.s3.eu-central-1.amazonaws.com/medium_0x0_11_8b4284c1b8.jpg 750w,https://ksf-openukraine.s3.eu-central-1.amazonaws.com/large_0x0_11_8b4284c1b8.jpg 1000w," sizes="100vw" width="1000px">The banking sector is operating flawlessly, which is crucial for the economy," Andy Hunder the McDonald’s in Lukyanivka, Kyiv, has had to be rebuilt seven times after shelling. But it is fully operational now. Last month, I visited Mukachevo, where two russian missiles struck a representative office of an American business. There were 600 people on the night shift. At 4:30 a.m., an air raid siren went off, and at 4:37 a.m., a missile hit the facility. All employees are alive and business keeps running. Nearly half of all companies have been damaged by russian missile strikes over the past almost four years", he said.At the same time, Andy Hunder noted that the American companies still operating in Ukraine today are "the best ambassadors for business.""This resilience inspires others. We were invited by the American Chamber of Commerce in Taiwan, and they asked us to 'describe how businesses operate during a full-scale war,' as they also have a neighboring country that questions their existence. And here, the role of business is essential! The banking sector is operating flawlessly, which is crucial for the economy," Andy Hundered.The President of the American Chamber of Commerce also noted that business is not only continuing to operate but also expanding."McDonald’s recently opened its 50th restaurant in Kyiv – on a day when the city had no electricity. Why does business keep running? Because specific conditions have been created. Looking at the 25 sectors, one of the key targets russia aimed to destroy was the banking sector. Even before the first missile strikes, the banking system was already under attack, but we managed to secure everything and quickly transfer the data to the 'cloud', where russian missiles cannot reach. These are companies such as Microsoft, Google, Amazon, and Oracle. The banking sector is operating flawlessly, which is crucial for the economy," Andy Hunder summed up.

Every second company representing American business in Ukraine has been affected by russian attacks, yet they continue to operate and even expand.Andy Hunder, President of the American Chamber of Commerce, spoke during an extraordinary session on the situation in Ukraine's energy sector and economy of the Kyiv Security Forum, organized by Arseniy Yatsenyuk "Open Ukraine" Foundation.

President of the American Chamber of Commerce Hunder: American Business Has Faith in Ukraine

The energy situation, staff shortages, market contraction, and ongoing changes in the legislative and regulatory environment are the key challenges faced by European and international companies operating in Ukraine.Anna Derevyanko, Executive Director of the European Business Association (EBA), spoke during an extraordinary session on the situation in Ukraine's energy sector and economy of the Kyiv Security Forum, organized by Arseniy Yatsenyuk "Open Ukraine" Foundation.<img src="https://ksf-openukraine.s3.eu-central-1.amazonaws.com/0x0_12_1a69f86ec0.jpg" alt="0x0 (12).jpg" srcset="https://ksf-openukraine.s3.eu-central-1.amazonaws.com/thumbnail_0x0_12_1a69f86ec0.jpg 234w,https://ksf-openukraine.s3.eu-central-1.amazonaws.com/small_0x0_12_1a69f86ec0.jpg 500w,https://ksf-openukraine.s3.eu-central-1.amazonaws.com/medium_0x0_12_1a69f86ec0.jpg 750w,https://ksf-openukraine.s3.eu-central-1.amazonaws.com/large_0x0_12_1a69f86ec0.jpg 1000w," sizes="100vw" width="1000px">"Many companies are under enormous pressure due to the performance of the energy sector. Electricity availability is only part of the problem; the other is its cost, which is currently higher than in neighboring countries and impacts the competitiveness of Ukrainian businesses," Anna Derevyanko explained.She also noted a shortage of personnel, which significantly complicates company operations, as well as a contraction in market size due to the departure of part of the population and ongoing mobilization.In addition, the EBA representative highlighted a decline in domestic demand caused by demographic changes, smuggling, and illegal schemes, which affect business profitability, as well as ongoing changes in legislation and a lack of predictability, which significantly complicate business planning.Despite the challenges, Anna Derevyanko notes that most companies remain cautiously optimistic about 2026. According to the EBA, 99% of the association’s members plan to stay in Ukraine, 77% anticipate revenue growth next year, and 20% of companies intend to make significant capital investments, provided that the security and economic situation is stable.She also emphasized the need to create conditions for attracting new investors who have not yet operated in Ukraine. "The main incentive for investors is the war end. If the conflict continues, additional incentives are required, such as access to financing, a market for products, and stable conditions for doing business," Anna Derevyanko said.According to the EBA's Executive Director, the key factors to successfully attract investors are the rule of law, the fight against corruption, and transparent rules of the game for all companies: "We need to move away from populism and toward mature politics. Zero tolerance for corruption and an effective law enforcement system will be the keys to success and integration into the EU."

The energy situation, staff shortages, market contraction, and ongoing changes in the legislative and regulatory environment are the key challenges faced by European and international companies operating in Ukraine.Anna Derevyanko, Executive Director of the European Business Association (EBA), spoke during an extraordinary session on the situation in Ukraine's energy sector and economy of the Kyiv Security Forum, organized by Arseniy Yatsenyuk "Open Ukraine" Foundation.

Business in Ukraine Faces Energy, Staffing, and Regulatory Challenges – EBA Executive Director

As part of developing a new mechanism to finance Ukraine with frozen russian assets, we are negotiating with Belgium, where the lion's share of these assets are held.Deputy Minister of Finance of Ukraine Oleksandr Kava spoke during an extraordinary session on the situation in Ukraine's energy sector and economy of the Kyiv Security Forum, organized by Arseniy Yatsenyuk "Open Ukraine" Foundation.<img src="https://ksf-openukraine.s3.eu-central-1.amazonaws.com/0x0_9_e48326d5ac.jpg" alt="0x0 (9).jpg" srcset="https://ksf-openukraine.s3.eu-central-1.amazonaws.com/thumbnail_0x0_9_e48326d5ac.jpg 234w,https://ksf-openukraine.s3.eu-central-1.amazonaws.com/small_0x0_9_e48326d5ac.jpg 500w,https://ksf-openukraine.s3.eu-central-1.amazonaws.com/medium_0x0_9_e48326d5ac.jpg 750w,https://ksf-openukraine.s3.eu-central-1.amazonaws.com/large_0x0_9_e48326d5ac.jpg 1000w," sizes="100vw" width="1000px">"We are currently working on creating a new mechanism to finance Ukraine with the help of frozen russian assets. First of all, this is a question for the EU. They are discussing Belgium, which owns the lion's share of frozen russian assets. We need the Belgian government to support this decision. We are also negotiating with other EU countries," he said.Oleksandr Kava also mentioned that the U.S. position on providing financial assistance to Ukraine has changed. However, he added that "our European and G7 partners remain optimistic and are trying to help us solve our problems as much as possible".The Deputy Minister noted that Ukraine has reached a compromise with the European Investment Bank on several programs."These programs support both large state-owned and municipal sectors of the economy. In addition to the war in the East, we are engaged in an economic war. How well the Ukrainian economy and Ukrainian cities function depends on how well we can finance our share of state budget expenditures. It's no secret that half of the state budget expenditures are financed by taxes and fees, which go toward the security and defense sector. The other half is financed by loans and grants from our partners. Therefore, we should not forget about regions that have received a large number of IDPs. These cities are functioning and producing goods, including military supplies, while ensuring tax payments," he explained.

As part of developing a new mechanism to finance Ukraine with frozen russian assets, we are negotiating with Belgium, where the lion's share of these assets are held.Deputy Minister of Finance of Ukraine Oleksandr Kava spoke during an extraordinary session on the situation in Ukraine's energy sector and economy of the Kyiv Security Forum, organized by Arseniy Yatsenyuk "Open Ukraine" Foundation.