Editing Economy of Ukraine (section)

====Fuel and energy complex====
{{See also|Natural gas in Ukraine|Energy in Ukraine}}Due to Ukraine's large population and its significant energy consumption, it is one of the largest energy markets on the [[Europe|European continent]]. Ukraine's location at the intersection of Europe, Russia, the Black Sea, and the Caspian Sea provides its ample natural resources such as coal, oil, natural gas, as well as significant potential for hydro and biomass energy.<ref name=":0">{{Cite web |last=[[International Energy Agency]] |date=April 2022 |title=Ukraine energy profile |url=https://www.iea.org/reports/ukraine-energy-profile |access-date=16 May 2022 |publisher=IEA}}</ref>

Ukraine relies heavily on imports for natural gas and oil products. It is a key transit site for European imports of Russian gas.<ref name=":0" /><ref name=":1">{{Cite web |last=[[International Energy Agency]] |date=19 Jan 2020 |title=Ukraine – Countries & Regions |url=https://www.iea.org/countries/ukraine |access-date=16 May 2022 |publisher=IEA}}</ref> Ukraine transits more natural gas than any other country.<ref name=":0" /> Prior to the full-scale Russian invasion of Ukraine in 2022, economic crises, Russia's closure of its market, and the Russo-Ukrainian War in eastern Ukraine since 2014 had stymied some of the country's growth. Ukraine's energy policy has created incentives for investment in renewable energy sources, but these remain uncertain. Since 2015, Ukrainian energy policy has favoured reducing natural gas subsidies alongside diversifying energy supply. Ukraine participates in the European Union's EU4Energy Programme, an effort to promote evidence-based policy making in national energy sectors.<ref name=":1" />

=====Fuel industry=====
Ukraine remains heavily reliant on oil product and gas imports.<ref name=":0" /> Russia ranks as Ukraine's principal supplier of oil, and Russian firms own and/or operate the majority of Ukraine's refining capacity. Natural gas imports come from Russia – which delivers its own gas, as well as the gas from Turkmenistan.{{Citation needed|date=May 2022}}

Ukraine has been a key transit point for [[Russia in the European energy sector|EU imports of Russian gas]],<ref name=":1" /> and its pipeline system has been a crucial player in European energy supply, despite recent diversification of transit routes by Russian oil companies such as [[Gazprom]].<ref name=":0" /> Since the [[Russia–Ukraine gas disputes|2014 Russia–Ukraine gas disputes]], the latter's dependence on Russian gas supplies has dramatically affected its economics and foreign policy.{{Citation needed|date=May 2022}}

Ukraine was independent in its electricity supply, and exported electricity to Russia and other countries of Eastern Europe. This was achieved through a wide use of nuclear power and hydroelectricity. Its energy strategy intended a gradual decreasing of gas- and oil-based generation in favour of nuclear power, as well as [[Energy conservation|energy saving]] measures including lower industrial gas consumption. Reform of the still inefficient and opaque energy sector was a major objective of the International Monetary Fund (IMF) and World Bank programs with Ukraine.{{Citation needed|date=May 2022}}

Ukraine was a partner country of the European Union's [[INOGATE]] energy programme, which had four key topics: enhancing energy security, convergence of member state energy markets on the basis of [[Energy policy of the European Union|EU internal energy market]] principles, supporting sustainable energy development, and attracting investment for energy projects of common and regional interest. INOGATE was discontinued in 2016.<ref>{{Cite web|url=http://www.inogate.org/|title=INOGATE|website=www.inogate.org}}</ref>