Ukraine’s government on March 2 appointed a new supervisory board for state-owned energy giant Naftogaz after a delay of more than a month, replacing controversial former official Rostyslav Shurma, who was recently charged with embezzlement. The newly appointed independent board members — from Poland, Denmark, Canada, and Norway — bring extensive international energy-sector experience, while Deputy Economy Minister Anna Artemenko was named as the new state representative on the board, according to the Kyiv Independent.

Sweden has confirmed that a drone jammed near a French aircraft carrier in the Øresund strait this week was Russian, sharpening concerns that Moscow is widening its hybrid tactics against European countries backing Ukraine.

Our latest Ukraine macroeconomic briefing finds an economy operating under severe constraints, yet remaining functional and resilient, supported by external financing, pragmatic policy management, and sustained reconstruction demand.

This is an analysis of the EBRD’s latest communiqué on financing Ukraine and it is, on balance, a surprisingly upbeat document for a continent living in the age of air-raid alerts and emergency procurement.

Sweden’s government on Thursday announced a new SEK 1 billion support package aimed at helping Ukraine’s energy sector recover from what Stockholm described as intensified Russian attacks during the winter.

Total international aid allocated to Ukraine remained broadly stable in 2025 despite a full halt in U.S. support, as European countries and institutions sharply increased their contributions, according to new data from the Kiel Institute for the World Economy.

Sweden’s Prime Minister Ulf Kristersson offers a sober view of Europe’s relationship with Washington: cooperation remains necessary, but trust has been damaged. In an interview with POLITICO, he avoids personal judgments about Donald Trump, yet makes clear that recent U.S. pressure on allies—especially during the Greenland dispute—left a mark across Europe.

Sweden and Denmark are strengthening Ukraine’s air defence through a joint purchase of modern Tridon Mk 2 air defence guns. Deliveries are scheduled to begin within a year, and the initiative is expected to significantly enhance Ukraine’s ability to protect itself against drones, missiles and air attacks.

Ukraine’s economy is projected to continue growing modestly over the next two years, but economists warn that deep structural challenges and external imbalances will remain persistent. The Institute for Economic Research, together with the German Economic Team, forecasts that real GDP will expand by 2.1 % in 2026 and accelerate to 2.6 % in 2027, with private consumption and investment activity driving much of this momentum.

Ukraine’s decision to revoke and retender dozens of long-idle mining and energy licenses held by oligarch-linked companies could unlock billions of dollars in new investment and reshape the country’s strategic resource sector.

Sweden’s Minister for International Development Cooperation and Foreign Trade Benjamin Dousa, attends the opening of ReBuild Ukraine in Warsaw

After enduring the heaviest bombardment of its power grid since the war began, Ukraine is hitting back with growing precision. A sweeping campaign of drone strikes has knocked out nearly 40 percent of Russia’s oil refining capacity, driving exports to historic lows and forcing the Kremlin to ration fuel at home. With U.S. intelligence support and mounting economic pressure, Kyiv’s energy offensive is emerging as a decisive front—one that could bring Vladimir Putin’s war effort to the brink.

In an analysis published in The Economist, Europe’s financial support for Ukraine is reframed as a historic opportunity rather than a budgetary irritant. Wars may be fought with artillery, but they are won through economic endurance. Ukraine is approaching a severe liquidity crisis and could run out of funds by the end of February. Donald Trump’s halt to American aid has deepened the squeeze; prospects of a ceasefire have faded; and Russia’s drones continue to grind down what remains of Ukraine’s energy grid.

EU policymakers are now seriously considering a radical financial mechanism: turning Russia’s future war-reparation payments to Ukraine into immediate cash for Kyiv. The idea centres on the roughly $300bn in Russian state assets frozen after the 2022 invasion. Until now, the EU has only dared to seize the interest generated by the €200bn held in Europe, about €7bn a year, and repackage it into bonds whose proceeds flow to Ukraine. That is no longer enough.

Greece is moving to establish a joint venture, Atlantic, SEE LNG Trade S.A. formed by Depa Commercial and the AKTOR Group. The new entity will purchase LNG on the global market, import it to Greece, and sell it domestically and to regional partners, including Ukraine.

A Russian missile attack on October 25 destroyed the central warehouse and headquarters of one of Ukraine’s two largest pharmaceutical distributors, wiping out an estimated 20 percent of the country’s monthly stock of medicines and dealing one of the most severe blows to Ukraine’s business sector since the start of the full-scale war.

Sweden and Ukraine have taken a major step in their military-cooperation efforts, as Swedish Prime Minister Ulf Kristersson and Ukrainian President Volodymyr Zelenskyy signed a Letter of Intent on cooperation in air capabilities.

A massive wave of Russian missile and drone strikes battered Ukraine’s energy and port infrastructure on Oct. 22, as Moscow intensified its campaign to plunge Ukrainians into darkness ahead of winter.

Delegates to the Swedish Pavilion are warmly invited to a special conversation with Alex Voronov – one of Sweden’s most experienced and insightful journalists covering Ukraine. For more than two decades, Voronov has followed Ukraine’s political and social transformation, from its early democratic struggles to the full-scale Russian invasion that now defines Europe’s security landscape.

The Baltic Sea, once a quiet trade route, has become one of Europe’s most volatile flashpoints — with Sweden at its center. Russian submarines patrol its depths, GPS signals are jammed, and undersea cables sabotaged.

“This is no coincidence,” says Swedish Defense Minister Pål Jonson. “Russia’s war against Ukraine — and the West — has turned the Baltic into a frontline of hybrid warfare.”