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Transparency strengthens Ukraine’s energy security

Olga Bielkova's picture

 

Gas pipeline, Ukraine. Photo: Dmytro Glazkov / World Bank

“If we hope to strengthen our security and control our own foreign policy, we can offer no less of a commitment to energy independence” – declared then U.S. Senator and now President of the United States, Barack Obama, more than 10 years ago in a speech titled Energy Security is National Security. If this is true for the strongest economy in the world backed by unsurpassed military might, this is doubly so for my own country, Ukraine, which has paid dearly for failed energy policies in the last 25 years.

Energy independence is within Ukraine’s reach. But we can only achieve it with enlightened policymaking, support from the international community, and, most importantly, unwavering political will from all three branches of our government to combat corruption. We must keep the momentum and our immediate priority should be to leverage a ready-made mechanism known as the Extractive Industries Transparency Initiative (EITI).