Ukraine gets a new prime minister. Who is Serhii Koretskyi?
The Verkhovna Rada (Ukrainian parliament) has approved the appointment of Serhii Koretskyi as prime minister. Koretskyi previously served as CEO of Naftogaz of Ukraine, the country's largest oil and gas company, and Ukrnafta, Ukraine's largest oil producer.
Source: voting in the Verkhovna Rada
Details: Ukrainian MPs have just supported the decision, with 289 voting in favour.
The key priorities President Volodymyr Zelenskyy set out ahead of Koretskyi's appointment are preparing the country for winter, protecting energy and fuel infrastructure, stabilising the economic situation and effectively managing international aid. Officials expect the coming winter to be the toughest of the entire war.
Speaking in the Verkhovna Rada ahead of his appointment, Koretskyi outlined the government's key priorities going forward.
Quote: "This means fully supplying the defence forces, building up the capacity of Ukraine's defence industry and supporting the population and social protection, specifically for residents of frontline communities."
More details: Koretskyi separately pointed out that preparing the country for the next heating season is one of the government's key tasks.
Among his other priorities, he named supporting businesses to ensure economic stability, deepening cooperation with Kyiv's international partners, effectively using international aid and implementing housing programmes for Ukrainians.
Koretskyi's professional path is unusual by Ukrainian political standards. He did not rise through party structures or state institutions, but came from the business world, where he spent more than 20 years building companies, streamlining processes and managing large teams.
Ekonomichna Pravda sources in government circles say his reputation as an effective crisis manager was the key reason the president considered him for the post of prime minister.
In November 2022, he agreed to take charge of two strategic companies at once, Ukrnafta and Ukrtatnafta, after the state took control of them from Ihor Kolomoiskyi.
Within a relatively short period, Ukrnafta moved from years of losses to record profits. The company increased production, actively expanded its petrol station network, began modernising its assets and became one of the largest taxpayers among state-owned companies.
In spring 2025, Koretskyi became CEO of Naftogaz of Ukraine after winning the selection process for the position. He took over the company at a time when its gas reserves were at historic lows, after the previous management had failed to secure the necessary imports.
During his tenure, Naftogaz increased its reserves to more than 13 billion cubic metres, raising almost US$1 billion from its own resources and securing €1.57 billion in financing from the European Bank for Reconstruction and Development (EBRD), the European Investment Bank and state-owned banks.
However, the government's target of fully ramping up domestic production was not met because of regular large-scale Russian strikes on gas production infrastructure.
One of the first decisions taken by the new leadership was a sweeping restructuring of Naftogaz. Following an audit, overlapping functions were eliminated and staffing levels reviewed. The move drew a mixed response within the company, although Koretskyi's supporters say the decisions were necessary to improve efficiency.
Having moved from big business into state-owned companies, Koretskyi has already shown he can operate in crisis conditions. He now faces a much tougher challenge: applying a business-style approach to management at the level of the state.
His supporters see his ability to make quick decisions, his focus on efficiency and his readiness to take unpopular steps as his main strengths.
However, the government is not a corporation. In this role, results will depend not only on the prime minister's managerial skills, but also on political support, cooperation with parliament and international partners and the ability to balance the interests of competing centres of influence.
That is why Koretskyi's biggest test will be less about managing the economy or the energy sector and more about whether he can combine the efficiency of a private-sector manager with the logic of high-level state policy. The results will become clear in the near future.
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