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Ukraine will create a diversified oil product storage system with two-month reserves

Ukraine will create a diversified oil product storage system with two-month reserves

Ukraine’s Prime Minister Denys Shmyhal announced this. Russia used to target Ukraine’s oil depots early in the war to deprive the country of fuel. This caused a deficit for a few months which was later overcome by joint state and business efforts.

Ukraine started importing additional fuel from the EU in the spring after Russian missile attacks targeted its oil refinery.

Today, the Cabinet approved a draft law on minimum stocks of oil and oil products. In the event of a crisis, there will be reserves for 61 days of domestic consumption stocked in the diversified system, which is not vulnerable to air attacks. This will allow businesses, citizens, and the entire country to face any challenges in the fuel sector calmly.

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