Romania may direct part of energy companies' profits to restoration of Ukraine's infrastructure

Romania is considering the possibility of directing part of energy companies' profits to restore the energy infrastructure of Ukraine.

Source: The Ministry of Energy of Ukraine following a meeting between Herman Halushchenko, Minister of Energy of Ukraine, and Luminița Odobescu, Romania’s Foreign Minister, during the Ukraine Recovery Conference in London

Quote: "The parties discussed measures to strengthen energy security in the region, as well as assistance to the Ukrainian energy sector in the restoration and reconstruction of infrastructure facilities destroyed in Russian attacks.

At the meeting, the ministers paid special attention to the call by the Ministry of Energy of Ukraine to foreign partners to share the additional profits that energy companies have received as a result of the war in Ukraine unleashed by Russia, which led to significant price hikes on the energy markets, and as a result, unplanned incomes for the parties involved," the message stated.

It was reported that Romania’s Energy Minister, Virgil-Daniel Popescu, had announced his readiness to consider this initiative.

During the meeting in London, Halushchenko and Odobescu discussed the ways and directions of implementing the respective plans.

The Ministry of Energy reiterated that the first decision to allocate 10%, or EUR 12 million, of excess profits to the restoration of Ukraine was made by the international energy company Ignitis Group which has its headquarters in Vilnius (Lithuania).

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