Memorandum of Ukraine and the USA on Energy Realm Support and Development

by Meifan Honcharuk
Monday, September 26, 2023
1 MIN
Memorandum of Ukraine and the USA on Energy Realm Support and Development

The government allocates $522 mln to strengthen the Ukrainian energy system

This was reported by the US ambassador to Ukraine, Bridget Brink, on her page on X. According to the memorandum, Ukraine and the United States will deepen cooperation in the energy realm and strengthen Ukrainian energy infrastructure. The USA is ready to allocate $522 million. These funds will be used to modernise the Ukrainian energy sector, protect energy carriers and raise the sector's attractiveness internationally.

Brink added that the tranche will be distributed for other needs. In her opinion, this will help Ukraine survive Russian attacks and contribute to the victory over the aggressor.

"Accelerating European integration and improving corporate governance of energy state-owned enterprises," Bridget Brink.

The memorandum includes a further additional $100 million in assistance for:

  • Creation of the Supervisory Board;
  • Raise the indicators in the corporatisation of the national atomic energy enterprise of Energoatom;
  • Establish the order, volume, degree and frequency of submission of information on wholesale trade of energy carriers.

The validity period of the memorandum is 1 year.

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