Ukrainian Parliament Receives Zelensky’s Proposal for New Prime Minister Sergey Koretsky

Ukraine’s President Volodymyr Zelensky has formally submitted the nomination of Sergey Koretsky for the post of Prime Minister to the Verkhovna Rada, the country’s parliament, signaling a significant reshuffle in the government ahead of key fiscal and policy decisions.

The parliamentary speaker, Ruslan Stefanchuk, announced on July 16 that the Verkhovna Rada is expected to vote on and approve Koretsky’s appointment along with the new Cabinet composition on the same day. This move follows the parliament’s approval on July 14 of the resignation of the previous Prime Minister, Yulia Svyrydenko, which led to the dissolution of the entire Cabinet. Svyrydenko had helmed the government since July 17, 2025.

Government Restructuring and Financial Implications

According to parliamentary deputy Yaroslav Zheleznyak, four primary candidates were initially considered for the premiership: Sergey Koretsky, the chairman of Naftogaz; Denys Shmyhal, Minister of Energy; Mykhailo Fedorov, Minister of Defense; and Ihor Terekhov, Mayor of Kharkiv.

After consultations, President Zelensky endorsed Koretsky as the most suitable candidate for the prime ministerial role, emphasizing his experience in managing Naftogaz, Ukraine’s largest national energy company. This appointment is viewed by analysts as a strategic step to stabilize the country’s energy sector and strengthen fiscal governance amid ongoing economic challenges.

"The choice of Sergey Koretsky reflects a prioritization of energy sector expertise and financial stewardship at the highest level of government," said an economic analyst familiar with the Ukrainian market.

The Verkhovna Rada’s planned vote on July 16 will not only confirm Koretsky as prime minister but also approve the new Cabinet lineup. Notably, the defense ministry is expected to see a leadership change, with Ihor Klymenko replacing Mykhailo Fedorov. Klymenko, currently head of the Ministry of Internal Affairs, would be succeeded by Ivan Vyhovskyi. Meanwhile, Andriy Sybyha will retain his position as Minister of Foreign Affairs.

These reshuffles come at a critical juncture as Ukraine navigates complex security concerns and seeks to maintain investor confidence amid geopolitical tensions. The new Cabinet’s financial policies and budget management will be closely scrutinized by investors and international partners.

Observers anticipate that Koretsky’s government will focus on improving fiscal discipline, energy sector reforms, and enhancing transparency to attract foreign investment and support Ukraine’s economic recovery.