Ukraine Reaches Agreements with Several Middle Eastern Countries on Energy Supplies - Zelensky

During a recent session of the Congress of Local and Regional Authorities, President of Ukraine Volodymyr Zelensky reported on important agreements reached with several countries in the Middle East. These agreements pertain to a specific volume of energy resources that Ukraine will be able to receive over the course of the year. As the head of state noted, stability in the region could lead to a decrease in energy prices, which is particularly relevant in the context of the global market.

Zelensky emphasized that, at present, there are no alternatives to such volumes of energy resources in the world. He stated: "Stability in the Middle East will definitely lead to a reduction in prices. Currently, there are no alternatives to such a volume globally. We have reached agreements with some countries in the Middle East that we will be able to secure a volume for the year, in case there is a shortage everywhere."

However, the President clarified that the discussions did not revolve around specific prices for oil and petroleum products, but rather the potential volume of supply. According to him, the price of energy resources is determined by a formula, making it impossible to agree on a fixed price for an extended period. "No one will definitely increase the price for us; we will have a normal price, and again, what is a normal price compared to? It’s still a formula; you know that you cannot agree on a price for energy for a year, as the formula is taken into account," Zelensky explained.

The President expressed hope that energy prices might decrease if the situation in the Middle East remains stable. He also highlighted that crucial factors affecting prices include a ceasefire and the unblocking of the Strait of Hormuz. "God willing, the ceasefire will hold, and the Strait of Hormuz will be unblocked. Today, this is the most important factor influencing the price," he added.

Zelensky assured that Ukraine will not run out of fuel, emphasizing, "We will definitely not be left without fuel; we will not be left without diesel. This is the most important thing." This statement is significant in the context of the global challenges facing the world, particularly amid instability in energy markets.

Earlier reports indicated that Volodymyr Zelensky also noted that the decline in global oil prices following the announcement of a ceasefire in the Middle East is a positive signal for the markets. In his view, this could strengthen the sanctions pressure on Russia, which is a vital aspect amid the ongoing conflict.

In this regard, it is essential to monitor further developments in the Middle East, as they may significantly impact Ukraine's energy security and global markets.

For more news and updates, join our channels on Telegram, Instagram, and YouTube.