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Reuters
Reuters
Business

Ukraine eyes billions in euros from Europe electricity exports

FILE PHOTO: Building cranes and power lines connecting pylons of high-tension electricity are seen next to a construction site of new apartment blocks in Kyiv, Ukraine July 10, 2020. REUTERS/Valentyn Ogirenko

Ukraine hopes to make 1.5 billion euros from electricity exports to the European Union by the end of the year and earn to more in the future after obtaining the right to export its energy there, a Ukrainian energy ministry adviser said on Wednesday.

Former Soviet Ukraine's electricity grid began planning to decoupling itself from the Russian and Belarusian grid in 2014 after Russia annexed Crimea. It was testing the system's autonomy in February when Russia invaded, which prompted Kyiv to fully disconnected 2.5 years earlier than planned.

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