Kyrylo Budanov to Lead Ukraine's New Wartime Business Support Council

Kyrylo Budanov Appointed as Chairman

According to Главком: Ukrainian President Volodymyr Zelenskyy has appointed Kyrylo Budanov as head of the Council for Entrepreneurship Support under Martial Law, by decree No.268/2026. This move aims to ensure effective backing for business activity during wartime. The council's deputy heads will be Iryna Mudra, Deputy Head of the President's Office, and Oleksiy Sobolev, Minister of Economy, Environment, and Agriculture. Its secretary will be Larysa Yaremchuk, First Deputy Director General of the Directorate for Socio-Economic Policy of the President's Office.

Council's Mandate and Purpose

The council was established following a January 23, 2024 decision by Ukraine's National Security and Defense Council, with the presidential decree 'On the Council for Entrepreneurship Support under Martial Law' signed later that same month. Its primary objectives are:

• To conduct a systematic analysis of the situation regarding the protection of entrepreneurial rights during wartime.
• To analyze the practice of forming and implementing state policy on guaranteeing the right to entrepreneurship.
• To develop and submit proposals to the President of Ukraine on potential solutions and mechanisms for resolving problematic issues.

This new body will play a crucial role for Ukraine's economy, which currently includes 2,997 companies with foreign owners reporting annual revenues exceeding 100 million UAH according to 2025 financial statements. The appointment of Budanov, who heads Ukraine's military intelligence, signals the government's focus on adapting economic policy to the severe challenges of war. Supporting business is now seen as vital for economic recovery and attracting the foreign investment needed for long-term stability, especially as the conflict continues to disrupt normal commercial activity.

As the new council aims to bolster Ukraine's economy amid ongoing conflict, understanding the broader context of the war's impact on energy resources is vital. Recent insights from Budanov regarding Russia's failed energy strategy highlight the interconnectedness of these challenges and the importance of strategic support for businesses during this tumultuous period.