Zelenskiy to Meet Energy Firms at BofA Over Ukraine Power Crisis
(Bloomberg) -- Volodymyr Zelenskiy will meet executives from major energy companies at Bank of America’s New York headquarters on Monday to discuss Ukraine’s urgent need for power after the war with Russia plunged its energy sector into crisis.
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Bank of America’s Bernard Mensah, the lender’s president of international operations, will be among the executives attending the meeting with the Ukraine President this afternoon, according to a person briefed on the plans.
A representative for the bank declined to comment. Zelenskiy has met Bank of America’s Mensah previously, when the executive went to Kyiv earlier this year, the person familiar said.
Russia has been stepping up efforts to knock out Ukraine’s civilian infrastructure, including power, heating and water supplies, before the winter season. In the biggest aerial attack to date, Russia launched a combined strike of more than 230 drones and missiles that targeted power substations in late August, causing blackouts.
More than two years after the invasion, Russian natural gas continues to be fed through Ukrainian pipelines to supply customers in central Europe. Ukraine is in talks about swapping out Russian gas for supplies from Azerbaijan, but hasn’t yet reached an agreement.
Earlier this month, Ukraine’s top energy official warned that further Russian airstrikes against the country’s energy grid could trigger an emergency at one of the three operating nuclear power plants still under Kyiv’s control.
At a meeting in New York on Monday regarding Ukraine’s energy sector support, Secretary of State Antony Blinken said Group of Seven countries and other allies have mobilized more than $4 billion for Ukraine energy supplies since Russia’s invasion in February 2022.
“We have once again not just the prospect but the reality of Putin weaponizing winter, weaponizing the weather, to use energy as a weapon in his efforts to subjugate Ukraine,” Blinken said. The group will discuss how to repair and protect the country’s power networks, and make sure companies are doing their part, he added.
During his US visit, Zelenskiy will also speak at the UN General Assembly and is planning to present his “victory plan” to force Russia to end the war to US President Joe Biden, as well as to presidential candidates Kamala Harris and Donald Trump.
--With assistance from Simon Casey, Piotr Skolimowski, Ramsey Al-Rikabi and Daryna Krasnolutska.
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