Back Ukraine Or Suffer Energy Price Spikes, Europe Is Warned

A dramatic rise in European energy prices is inevitable if the Russian destruction of Ukrainian energy infrastructure continues unabated, the former chief executive of Ukraine's state-owned oil company has warned.

- Patrick Wintour

Andriy Kobolyev, a former head of Naftogaz, said in an interview with the Guardian: "Russia is trying to wage a global energy war and Ukraine is part of that war and if the markets perceive that Russia is winning that war the consequences will be very serious. You will see a spike in prices."

He said there would be no point holding any more Ukraine reconstruction conferences until Ukraine is supplied with weapons to save its energy infrastructure from the attacks by drones and guided bombs.

"There will be no Ukrainian economy to reconstruct," he said.

Last week a massive missile and drone attack destroyed one of Ukraine's largest power plants and damaged others, as part of a renewed Russian campaign targeting energy infrastructure.

The Trypilska plant, which was the biggest energy supplier for the Kyiv, Cherkasy and Zhytomyr regions, was struck numerous times, destroying the transformer, turbines and generators and leaving the plant ablaze.