Ukraine to create strategic reserve within Ukraine Energy Support Fund – Shmyhal

Ukraine will establish a strategic reserve within the Ukraine Energy Support Fund, which can be used as needed for repairs.

Ukraine's First Deputy Prime Minister and Minister of Energy Denys Shmyhal announced this following a meeting of the Ukraine Energy Coordinating Group ("Energy Ramstein"), Ukrinform reports.

"The current available budget for the reserve is already EUR 197 million. This mechanism will allow Ukrainian companies to stockpile energy equipment ahead of next winter and, if necessary, use these reserves for repairs," Shmyhal wrote on Facebook.

In addition, Ukraine has aligned with partners on its financial needs for preparing for next winter, which total EUR 5.4 billion. Efforts are ongoing to secure this funding.

"In Brussels, we held several meetings with European Commission representatives: Kaja Kallas, Marta Kos, and Dan Joergensen, as well as with colleagues from other countries. We discussed the restoration and protection of energy facilities, equipment for repairs, and sanctions against Russian energy resources," Shmyhal added.

He also noted that partner contributions to the Ukraine Energy Support Fund have already exceeded EUR 1.87 billion.

The second ministerial meeting of the Ukraine Energy Coordinating Group – also known as the "Energy Ramstein" – took place in Brussels on March 16. During the meeting, Shmyhal urged partners to allocate EUR 5.4 billion from the broader EUR 90 billion financial support package to implement Ukraine's urgent and medium-term energy priorities.