Serhii Koretskyi, a 48-year-old state-energy company chief, has been approved as Ukraine's new prime minister, tasked with navigating the country through a looming harsh winter and managing its war-torn economy. Koretskyi, who built his career in business and crisis management within the fuel and food industries, is an atypical choice for the premiership, having not risen through traditional political channels.
President Volodymyr Zelenskyy appointed Koretskyi, emphasizing his preparedness for winter challenges. He is Ukraine's third prime minister since Russia's full-scale invasion began. Koretskyi's immediate objectives include safeguarding the nation's energy infrastructure, stabilizing the economy, ensuring the effective use of international aid, and boosting domestic arms production, according to his address to parliament.
Koretskyi's prior roles have seen him manage some of Ukraine's most challenging state-owned energy companies. In 2022, he was appointed to lead oil producer Ukrnafta and refinery operator Ukrtatnafta after their seizure by the government. Under his leadership, Ukrnafta achieved record profits, settled tax debts, and increased production, becoming a significant contributor to the war effort by supplying fuel to the military and funding drone procurement.
More recently, Koretskyi took the helm of Naftogaz, the state energy giant, during a critical period when gas reserves were at historic lows due to insufficient imports and intensified Russian strikes. His tenure there involved a comprehensive audit and restructuring, which included streamlining operations and staffing, though these measures faced internal criticism. Under his direction, Naftogaz replenished its gas reserves to over 13 billion cubic meters and secured nearly $1 billion in funding.
Koretskyi's ascent to prime minister has coincided with public discontent. As lawmakers confirmed his appointment, hundreds of protesters gathered in Kyiv, expressing anger towards President Zelenskyy and alleging the unfair sidelining of popular Defense Minister Mykhailo Fedorov in a recent government reshuffle. This backdrop presents Koretskyi with a significant political challenge alongside his economic and wartime responsibilities.