Ukraine continues to receive the necessary volumes of fuel for its domestic needs, despite the challenging situation in global energy markets. President Volodymyr Zelensky, in his evening address, emphasized that the country has agreements for fuel supply with European partners and Middle Eastern states. According to him, fuel imports for March and April meet the country’s needs for both defense and the economy and social sector.
This is reported by Kyiv24
“Virtually all markets in the world are destabilized, and the economic consequences can be significant. We need our internal solutions to ensure that Ukraine is supplied with what it needs at this time and that in the long term we can support our defense, our economy, and social needs. It is important that we have agreements for fuel supply to Ukraine, and now – for March and April – the necessary volumes are being imported. I thank all companies – both state-owned and from the private sector. We are working on supply with European partners as well as with countries in the Middle East,” said the head of state.
Situation in Global Energy Markets
The start of the joint military operation by the USA and Israel on February 28 led to Iran’s blockade of the Hormuz Strait, which is strategically important for the global oil market. The Hormuz Strait is a key route for transporting oil from the Persian Gulf countries. Its blockade has significantly restricted the movement of vessels, causing a sharp increase in energy prices worldwide.
Adaptation to New Conditions for Energy Transportation
Since the beginning of the conflict in the Middle East, only a small portion of vessels has passed through the Hormuz Strait, mainly from countries that Iran considers friendly. A system is now being established whereby the transit of vessels through the strait is only possible with prior approval from Tehran, and only via a route that passes near the Iranian coast. In particular, Pakistan has reached an agreement for the safe passage of its vessels, and several other Asian countries have also secured transit through this strategic waterway.