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Naftogaz fiasco risks undermining Ukraine UkraineAlert by Alan Riley and Suriya Jayanti
The Ukrainian government has sparked controversy by suspending the Naftogaz Supervisory Board in order to dismiss CEO Andriy Kobolyev. (REUTERS/Valentyn Ogirenko)
The sacking of Andriy Kobolyev as Naftogaz CEO on April 28 is not just another Kyiv squabble. In order to remove Kobolyev, Prime Minister Shmyhal suspended the Naftogaz Supervisory Board for two days. By doing so, he rode roughshod over Naftogaz’s corporate governance system and the commitments Kyiv had entered into with the international community.
The consequences of this decision are far worse than just a grievous breach of corporate governance rules. By his actions, Ukraine’s Prime Minister has set off a train of events that are likely to severely damage Naftogaz. These developments could undermine Naftogaz’s status as the country’s largest taxpayer, while also threatening Ukraine with
Energoatom And Ukrhydroenergo Transferred To Cabinet’s Management Даша Зубкова
The Energoatom national nuclear energy generating company and the Ukrhydroenergo state energy generating company were transferred to the management of the Cabinet of Ministers.
This is indicated in the statement of Prime Minister Denys Shmyhal in his Telegram channel, Ukrainian News Agency reports. On behalf of the President of Ukraine, the management of Energoatom, Ukrhydroenergo, the Nyzhniodnistrovska hydroelectric power plant (HPP) and three combined heat and power plants (CHPPs) is transferred directly to the Cabinet of Ministers, Shmyhal wrote.
He stressed that this decision concerns the implementation of the Third Energy Package of the European Union in terms of delimiting transmission system operators, producers and suppliers of electricity.