Iceland expands its backing for Ukraine's energy fund
Iceland has transferred an extra €550,000 to the Ukraine Energy Support Fund (UESF), bringing its total donations to the fund to nearly €9 million. This money is earmarked for buying energy equipment that Ukraine needs ahead of the autumn and winter months. The contribution is part of broader international efforts to help the country prepare its energy infrastructure for colder weather.
A closer look at the UESF
The Ukraine Energy Support Fund was established in spring 2022, with the European Commission and Ukraine's Ministry of Energy endorsing the initiative. Since its launch, the fund has collected more than €2 billion in grant contributions. Support has come from 39 foreign donors representing 26 partner countries, along with three international organizations. Fund contributions pay for:
- equipment,
- spare parts,
- technical assets,
- fuel, and services required to restore infrastructure.
Prime Minister Serhiy Koretskyi said Ukraine still needs roughly €650 million more to fully ready its energy system for the next heating season. He called such funding vital for keeping the energy network stable as winter closes in.
Fresh resources flowing into the UESF underline how international partners are standing with Ukraine's energy infrastructure at a time of serious security challenges. With winter approaching and demand for power expected to rise, continued support is increasingly important to ensure the system operates steadily through the cold months.