Cabinet appoints Vitrenko acting energy minister

Ukraine’s Cabinet of Ministers decided on Dec. 21 to
appoint Yuriy Vitrenko as first deputy minister of energy. On top of that, the
cabinet appointed him as acting energy minister. As the position of energy
minister has been vacant in the cabinet of Denys Shmyhal, Vitrenko is the third
acting energy minister after Olha Buslavets (appointed on Apr. 17) and Yuriy
Boyko (appointed on Nov. 20). Recall, last week, parliament failed to collect
enough votes to appoint Vitrenko as a full-fledged energy minister.

A former investment banker, Vitrenko served in the top
positions of Naftogaz of Ukraine between 2014 and July 2020. He is most known
as the leader of a team that defeated Gazprom in court battles, resulting in
its USD 3 bln compensation payment in December 2019.

Alexander Paraschiy: This
appointment is positive for Ukraine’s investment case. Meanwhile, it adds more
risks to Rinat Akhmetov’s DTEK Energy (DTEKUA). Unlike the acting minister
Buslavets, who submitted her resignation the same day and who was known to have
been ready and willing to assist  the energy holding
in resolving its problems, Vitrenko won’t be that cooperative. Moreover, DTEK’s
owner Akhmetov was pulling his strings in parliament to undermine the vote to
appoint Virtenko last week, according to MP Oleksandr Dubinsky.