Pinchuk Foundation

The prolongation of the war is now a challenge not only for Ukraine, but also for Russia’s economy and for the entire world. Take the example of the Black Sea blockade. Today, we have a blocked food corridor. It is almost blocked for the Ukrainian side and blocked for the Russian side. And this is a challenge for everyone. I have spoken with Egypt, India, Türkiye, Saudi Arabia, and the Emirates. Ukrainians will not be left without food. Grain prices will fall because exports will be expensive, the infrastructure needed to sell it will be difficult to operate, and logistics will be a nightmare. This will be very difficult for us. But apart from Ukraine, other countries will be in a much worse situation because they simply won’t have food. Many nations will have nothing to eat, even if they have the money to buy it. That is the truth. This will be like Hormuz, only agricultural. And that is a serious problem. It shouldn’t be up to Ukraine alone to solve this. Because it is a challenge for many. Agriculture and energy are the two challenges the entire world is facing today. And if peace is impossible today because one person does not want it, we can resolve the issue of an energy ceasefire and food security. These are decisions that can be made. We’ve been raising these issues for a long time, but they are especially relevant now. From my conversation with Fareed Zakaria during the Yalta European Strategy – 2026 meeting. (3/3)

Ukraine has learned to find ways of responding to Russian strikes appropriately. I’m not comparing it with the humanitarian disasters they are causing today. Ukraine does not do that. Nevertheless, Ukraine is capable of responding to any operation Russia may carry out. Russia knows that if they strike – and they are preparing to strike our energy system this winter – Russia will receive the same in return. If they cause blackouts for us, we will try to respond in fitting fashion. But there is an alternative that Ukraine has always supported. That is negotiations. The negotiating process must focus on ending the war. And if Russia does not want to end it, then our partners need to find a way to get through to Russia. If that is difficult, then at least today we need to move step by step. Unblock the Black Sea and find a way to establish an energy truce, with the energy systems of both countries protected. And, of course, continuing the track of exchanging prisoners of war and returning our civilians, journalists, and other citizens who were captured and imprisoned in the Russian Federation, as well as bringing our Ukrainian children home. This humanitarian track is very important. We need to move toward a trilateral meeting. From my conversation with Fareed Zakaria during the Yalta European Strategy – 2026 meeting. (2/3)

Sanctions need to be imposed now. Sanctions must be strong. This is a tool the United States has to deprive Russia of its ability to finance the war against Ukraine every day. And honestly, sometimes I don’t understand why decisions can’t be made quickly. Because during a war, it is sometimes better to make a not-so-perfect decision than to do nothing. Decisions on sanctions, economic and energy restrictions against the Russian Federation, and curbs on the production of ballistic missiles and related weapons have to be made right away. What are we waiting for? Why do we all talk about sanctions only when commenting on whether the U.S. Congress will support Lindsey Graham’s sanctions bill or not? Of course, the bill needs to be passed, with all due respect, first and foremost to Lindsey. He has devoted his life to defending American, European, and Ukrainian values. And this is a very important historical moment for the United States. The bill must be passed, voted on, and supported. Beyond that, strong decisions from the U.S. Administration are important. Personal decisions by President Trump. I very much hope we will see that. From my conversation with Fareed Zakaria during the Yalta European Strategy – 2026 meeting. (1/3)