Zelenskyy Calls for €5 Billion EU Support for Energy Sector

Zelenskyy made the urgent request during an address at a European Council meeting, emphasizing that the funds are crucial for protecting the energy network and rebuilding infrastructure damaged by Russia. He highlighted the need for swift action, stating, "Time matters.

This work must start now. And so funding is needed now." The €5 billion is part of a broader €90 billion support package aimed at stabilizing Ukraine's energy system amid the protracted conflict.

According to Zelenskyy, investing in Ukraine's energy resilience will also benefit Europe. The president explained that Ukraine would honor its contracts, ultimately contributing to job security and technological advancement across the continent.

He remarked, "This is about your jobs and your technological growth. So this €90 billion package will actually work for Europe, because in today's Europe no one stands alone.

We are all closely connected." Zelenskyy urged that if the funding is delayed or blocked, it could have unforeseen impacts not just on Ukraine, but on European countries as well. His remarks came as Ukraine's Energy Minister, Denys Shmyhal, revealed ongoing inspections of decommissioned facilities in the EU to source necessary equipment for Ukrainian energy companies.

Shmyhal reported that Ukrainian engineering teams are assessing options that could enhance energy delivery and resilience for the forthcoming winter. Additionally, the Ukrainian government has initiated its recovery plans, allocating US$22.6 million from a reserve fund towards energy sector resilience.

However, the total required for complete reconstruction and modernization over the next decade is estimated at US$90.6 billion. Priority projects slated for 2026 alone demand over US$15 billion, yet current confirmations cover only 38% of those needs, indicating a significant funding gap.

With winter approaching, the urgency for financial support from the EU is paramount, as the operational integrity of Ukraine’s energy sector is at stake. The continuing war has compounded existing challenges, making external aid not just beneficial but necessary for the stability of both Ukraine and its European partners.