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State weighs insurance fund to cover attack risks for certain businesses

First and foremost, this concerns critical infrastructure. 

State weighs insurance fund to cover attack risks for certain businesses
Denys Shmyhal
Photo: Verkhovna Rada

As a result of Russian attacks in Ukraine over the past six months, more than 300 petrol stations have been damaged or destroyed. These are significant losses for the economy, First Deputy Prime Minister and Energy Minister Denys Shmyhal said during the government question time.

The power sector has also been hit very hard. Therefore, the state is considering the possibility of insurance and creating a separate fund for this purpose.

“A relevant dialogue is underway at the level of the Ministry of Finance and business,” he said. 

No compensation is planned for businesses’ electricity costs. Shmyhal stressed that electricity prices for businesses reflect market conditions. 

  • Russia is deliberately targeting Ukraine’s energy sector, petrol stations and retail. Various retail chains, as well as publishing and other sectors, have suffered major losses as a result of strikes on warehouses. 
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